Inflation rose to 5.9% in January, the highest rate in seven months, mainly driven by an increase in the price of food crops, according to the Uganda National Bureau of Statistics. Headline inflation in December 2016 came in at 5.7%.
Dfcu became a commercial bank in 2000 after taking over and renaming Gold Trust Bank. But it had operated in Uganda since 1964, when it was set up by the Uganda government and the UK’s Commonwealth Development Corporation (CDC).
Uganda Post Limited almost doubled its profit from Shs528 million to Shs1.1 billion in the financial year ended June 2016 but full recovery is still stuck in the post, bogged down by inadequate cash flows.
The National Social Security Fund (NSSF) has unveiled a web-based whistleblower platform for aggrieved employees to report employers who fail to remit their contributions to the Fund, as required by the law.
Uganda, Tanzania and the three Joint Venture (JV) partners, Tullow Oil Uganda, Total E&P and Cnooc, will later this month issue a request for proposals for a consultant to offer transaction advice on the proposed $3.55 billion oil pipeline.