ALTX East Africa, a new securities exchange that launched on 13 July this year, has not yet started trading as it “finalises one or two things,” Joseph Kitamirike, the exchange’s Chief Executive Officer told Uganda Business News.
When Brexit finally takes effect, Britain will have no valid agreements with either African trade blocs or individual countries. New agreements with Britain will need to be negotiated. For African countries, negotiating as regional blocs will bring advantages.
Annual headline inflation fell to its lowest level in 16 months, coming in at 4.8% for August, data from the Uganda Bureau of Statistics showed on Wednesday
This brief is a roundup of most important political and economic developments that happened in August 2016.
Roofing tiles maker Uganda Clays Limited (UCL) returned to profitability in the first half of 2016, posting a Shs1.3 billion ($0.38 million) profit reversing a similar loss from the same period in 2015, according to unaudited financials released by the firm.
The Ministry of Energy and Mineral Development has granted eight oil production licences to Tullow Uganda Operations Pty Limited and Total E&P Uganda B.V., according to a statement released by the ministry.
A letter circulating on social media shows that Stanbic Bank apologised to the minister. Signed by the bank’s CEO, the letter conveys “my sincere apologies for inconvenience and embarrassment this incident might have caused you.”
Coffee exports in July 2016 rose 0.81% month-on-month, but fell 33.33% year-on-year. The value of the exports, on the other hand, gained 1.98% month-on-month and fell 37.02% year-on-year.
The Uganda government is not planning to cap interest rates like neighbouring Kenya, according to the State Minister of Finance for Planning, David Bahati.
A coalition of several groups and non-profit organisations on Tuesday protested outside the London headquarters of two British banks they say do business with Bidco Africa, which they accuse of cutting down forests and “human rights and tax violations.”