Moody’s acquisition of a leading African rating agency could be bad news for African countries
Moody’s entrance into the domestic ratings market ushers in the challenge of negative analyst biases against African countries
Uganda Business News
USE halts trading in New Vision securities
The Uganda Securities Exchange has halted trading in the securities of New Vision, the media group, so it can investigate recent trading of the stock that led to a fall in its price
Trade deficit narrows in December
The Uganda merchandise trade deficit narrowed for the second consecutive month in December as gold imports and exports recorded steep declines
Australia’s Worley, France’s Schneider, Bolloré tipped for $3bn pipeline tenders
Australia’s WorleyParsons Ltd is the frontrunner for the engineering, procurement, and construction management tender for the Uganda-Tanzania East African Crude Oil Pipeline
Bank lending growth signals gradual recovery
Lending growth climbed to its highest level in seven months in December, an indicator that economic activity is gradually recovering from the impact of the coronavirus pandemic, according to Bank of Uganda statistics
What next for Uganda’s oil and gas sector after final investment decision?
The projects’ technical schedule indicates that first oil will be achieved 36 to 45 months after the final investment decisions. Those months will be characterised by intensive activity as FID unlocks the detailed engineering, procurement, and construction phase of the projects, where the bulk of opportunities lie
Business activity rises to 8-month high as economy reopens
A gauge of Uganda private sector activity rose to its highest level in eight months, a sign that the economy is regaining momentum following the relaxation of Covid-19 restrictions
URA revenue collections increase
Uganda’s revenue collection increased 7.3 per cent in the last six months of 2021 – rising by Shs690.6bn compared to the same period a year earlier
Oil companies take final investment decision on Uganda projects
TotalEnergies, the French energy group, and the China National Offshore Oil Corporation have announced the long-awaited final investment decision for Uganda’s oil projects, collectively referred to as the Lake Albert Development Project
Inflation slows in January as transport costs drop
Declines in transport costs, resulting from the relaxation of Covid-19 lockdown measures, and the prices of alcohol, tobacco, and narcotics led to a fall in Uganda’s inflation in January