Uganda Economy: Latest news, analysis and data

Goods imports, exports fall to record lows

May 18, 2020 Uganda Business News

Uganda’s goods imports dropped at the sharpest rate since May 1999 in March, leading to the narrowest merchandise trade deficit in 12 months, according to data released by the central bank

A retail shopping centre in downtown Kampala, Uganda

Bank lending growth falls to four-month low in March, but still strong

May 17, 2020 Uganda Business News

Bank lending to businesses grew at a robust pace in March, measured by the indicators’ trend growth over the past two years, according to figures from the Bank of Uganda

The offices of the Ministry of Finance in Kampala.

Uganda receives IMF loan to stave off coronavirus impact

May 7, 2020 Uganda Business News

The International Monetary Fund said on Wednesday that it had approved a $419.5m (Shs1.6 trillion) loan to Uganda to help combat the economic fallout of the Covid-19 coronavirus pandemic

A largely empty street on Namirembe Road, Kampala

Business activity shrinks at fastest rate on record in April

May 6, 2020 Uganda Business News

Business activity in Uganda’s private sector shrunk at the fastest pace on record in April, according to a survey, playing up the economic impact of the lockdown instituted to check the spread of the coronavirus and the global Covid-19 pandemic

Consumer inflation rises moderately in April as prices of food staples increase

April 30, 2020 Uganda Business News

Uganda consumer prices rose moderately in April due to an increase in the prices of food staples, as measures implemented to check the spread of the coronavirus disrupted supply chains and drove up demand

Coffee export growth continues apace

April 24, 2020 Uganda Business News

Uganda’s coffee exports grew strongly in March compared to a year earlier, figures from the regulator showed, but declined from the previous month due to a fall in prices

Central bank details key debt relief measures to ease coronavirus hit

April 17, 2020 Uganda Business News

The measures include the opportunity to pause loan repayments, the chance to extend maturity dates of loans, and other forms of debt restructuring set out by the law. The central bank has also suspended the prepayment of loan arrears as a condition for debt restructuring

Private sector lending slows in February

April 8, 2020 Uganda Business News

Annual growth in bank lending to the private sector rose at its slowest pace in three months in February on a decline in loans to the transport and communication sector

Emmanuel Tumusiime-Mutebi, the governor of the Bank of Uganda

Coronavirus: BoU cuts interest rates, lowers growth forecasts, offers flexibility on bad loans

April 6, 2020 Uganda Business News

The Bank of Uganda cut its benchmark interest rate by a percentage point as part of measures to mitigate the economic crisis caused by the coronavirus pandemic, and also announced actions to support the financial institutions it supervises, including a moratorium on dividends and bonus payments

Private sector contracts for the first time in over three years in Covid-19 fallout

April 3, 2020 Uganda Business News

The first indicator showing the economic impact of the Covid-19 coronavirus outbreak is out, and it shows that private sector activity in Uganda shrunk for the first time in over three years