Bank of Uganda’s Monetary Policy Statement for February 2024 — Full text
The Bank of Uganda’s Monetary Policy Committee kept its benchmark interest rate unchanged at 9.5 per cent at its meeting on 6 February
Uganda Business News
Private sector credit growth drops in December
Lending to the private sector slowed in December due to a decline in microfinance loans and stagnant growth in commercial bank loans
BoU keeps rates on hold, raises inflation forecast
Bank of Uganda said that economic activity continues to strengthen, although the weakening shilling could lead to a modest increase in inflationary pressures
Global sector correction leads to sharp drop in start-up funding
Funding for tech start-ups dried up last year, mirroring a phenomenon seen across the continent and beyond as international funders pulled out in the worst year for venture capital in nine years
Economy shows signs of slowing as mining activity pulls back
Business activity slowed in January, according to a survey of private sector purchasing managers
NIC Holdings warns on 2023 profits
Insurance company says it will report significant decline in earnings for the year to December 2023, blaming economy and costs of implementing new accounting standard
Fixes for Africa’s exploding debt and collapsing currencies
Highly indebted African countries face stark trade-offs between servicing expensive debt, supporting growing development needs, and stabilising domestic currencies
Vision Group issues yet another profit warning blaming Covid-19 pandemic
New Vision Printing and Publishing Company issued a profit warning Wednesday, saying it would post a loss for the half year to the end of December
Carrefour to reward customers with up to Shs57mn in prizes as it celebrates four years in business
To celebrate four years in Uganda, Carrefour is giving away Shs1mn to four lucky MyCLUB members every day for 14 days until 13 February, as well as offering discounts on various products
Consumer prices jump, closing door on interest rate cuts
Consumer prices rose in January on higher transport and other service costs, pushing up the core inflation gauge preferred by policymakers