The Rwanda border is open but distrust could close it again
Rwanda has now fully reopened the Gatuna border with Uganda, ending a three-year impasse. But the issue is not yet a settled matter
Uganda Business News
MTN boosted by data and mobile money
Uganda’s largest telecom company MTN Uganda reported a gain in full-year profit on the back of a jump in data revenue and moderated growth in operating expenses
Trade deficit in goods widens in January
Uganda’s merchandise trade deficit increased at the fastest rate in seven months in January as goods exports fell while inbound shipments rose for the first time since July 2021
Inflationary pressures persist as business activity hits 9-month high in February
Private sector activity expanded in February, accelerating the most in nine months after the phased removal of pandemic restrictions, but a rise in input and labour costs saw companies raise output prices yet again
Bank lending slows in January
Lending growth slowed in January after rising to a seven-month high the previous month, according to data from the Bank of Uganda
BATU profit drops for first time in five years
British American Tobacco Uganda, the cigarette distributor, reported a drop in after-tax profit last year amid “an exceptionally challenging operating environment” as weak consumer spending and “illicit trade” hit its sales
Petroleum Authority, Stanbic Incubator sign contract to train 200 SMEs along oil pipeline route
The Petroleum Authority of Uganda signed a contract with the Stanbic Business Incubator and other partners to increase the competitiveness of over 200 Ugandan enterprises should they apply for contracts in the oil and gas sector
New Vision’s shares resume trading
Shares in New Vision resumed trading on Tuesday after the Uganda Securities Exchange said it had concluded a probe into suspicious trades that led to a “sporadic” drop in the stock’s price
Uganda’s prolonged closure of schools: the impact is deep and uneven
To understand how the prolonged closure of schools affected the lives of adolescents in Uganda we conducted interviews with 36 young people and predominantly from a low socio-economic status
Contingent consideration received following final investment decision in Uganda
The final investment decision for Uganda’s oil projects as reported on 1 February 2022 has triggered a contingent consideration of $75 million in relation to Tullow’s sale of its assets in Uganda to TotalEnergies in 2020