Uganda Business News | Uganda Business News 31

Business activity rebounds after March decline

Downtown Kampala, where wholesale and retail trade are the dominant economic activities, close to the Old Taxi Park and St Balikuddembe Market

Business activity picked up in April after a month of falls in output and new orders, as demand firmed, a closely watched survey showed Monday

Rising core inflation highlights persistent price pressures

An agricultural market in downtown Kampala

Core inflation rose last month, bolstering the central bank’s recent contractionary policy in the face of what it says are strong inflationary pressures

The liquidity crisis in developing countries is not over

Globe weighed down by a chain and labelled 'debt': global debt crisis, economic burden, financial instability, liquidity crisis

External debt ratios of low-income and lower-middle-income countries are lower than before, but liquidity pressures have increased due to various shifts in the global economy

Rwanda genocide: why Tutsis remain at the centre of eastern DRC conflict 30 years on

Six Banyamulenge women in the Democratic Republic of Congo being interviewed by a media house

Governments in both Kigali and Kinshasa continue to play their part in subverting reconciliation to end tensions and conflicts in the east of the DRC triggered by the 1994 Rwandan genocide

Bank of Uganda raises rates to highest levels in nearly 7 years, nods to strong inflation pressures

The Bank of Uganda's headquarters in Kampala

The Bank of Uganda raised interest rates for the second time in as many months on Monday, citing the risk of increased inflationary pressures due to a weak shilling

Business activity slows in March

Activity in Uganda’s economy contracted for the first time in 20 months in March, according to an official survey, as a drop in money supply suppressed consumer demand

Regulator raises Umeme electricity tariffs

Umeme Limited employees and officials from the Electricity Regulatory Authority of Uganda inspect a power station

The electricity sector regulator said it had increased domestic tariffs for electricity supplied by Umeme Limited by 2.7 per cent in the second quarter, and overall tariffs by an average of 2.5 per cent

Stanbic Bank names Samuel Mwogeza as interim chief executive, appoints acting executive director

Stanbic Bank Uganda has announced Samuel Mwogeza as the lender’s interim chief executive, following the departure of Anne Juuko

Stanbic Uganda’s annual net profit rose

Crested Towers in Kampala, with the shorter tower housing offices of Stanbic Bank

Stanbic Uganda Holdings Limited said its annual net profit rose by 15.2 per cent and was mainly driven by its anchor subsidiary, Stanbic Bank Uganda

Umeme writes off Sh432.9bn as end of service concession nears

Electricity infrastructure in Pemba, Tanzania. In May 2010, a submarine cable brought electricity from Tanga to Pemba (and on to the mainland). The cable was buried in the picturesque surroundings of Mkumbuu; three metres into the ground before rising to a mast about 120 metres from the water's edge. The cable continues to the Wesha substation, where "feeders" distribute the power to the island's grid. Norway paid NOK 475 million (out of a total cost of NOK 575 million). Norway also provided technical assistance to the project. The cable is now operated and maintained by the Zanzibar Electricity Corporation (ZECO).

Umeme wrote down Shs432.9bn in assets, an increase of Shs272.9bn from the previous year, to reflect the shorter remaining life of its power distribution concession, resulting in a sharp fall in profits