Fitch Ratings Inc

CompaniesPolitics & Policy

Fitch holds Uganda Development Bank at ‘B’, citing sovereign ceiling

Fitch keeps Uganda Development Bank at 'B' as falling bad loans and robust profits are offset by sovereign credit constraints
The Uganda Development Bank Headquarters in Kampala, undergoing renovation by Arch Forum Media
CommoditiesEconomyEnergy, Oil & Gas

Uganda faces higher fuel costs as US-Iran war roils oil markets

Uganda faces dearer fuel imports and currency pressure as the US-Iran war pushes oil prices higher, but first oil in H2 2026 offers a longer-term upside
Rise in gasoline prices concept with double exposure of digital screen with financial chart graphs and oil pumps on a field. Stock photo.
Economy

Credit rating agencies and Africa: lack of people on the ground fuels bias against continent

The big three rating agencies have a thin presence in Africa, raising questions about analysts' workloads and the accuracy of their ratings — not to mention a bias towards their home regions
The headquarters of Fitch Ratings in the financial district of lower Manhattan, New York
Economy

Fitch affirms Uganda B+ rating

Ratings supported by favourable medium-term growth prospects and macroeconomic stability, but constrained by weak governance and budget and current account deficits
The World Bank Group headquaters in Washington D.C.
BankingEconomy

Strong economy to boost bank lending, deposits in 2024, says BMI

Improved economic conditions and lower lending rates are expected to increase demand for bank credit, in contrast to last year when loan growth slowed
BMI predicts that loan growth in 2024 will be driven by personal and household loans, borrowing from the agriculture sector, and the construction sector.
Economy

Fitch cuts GDP forecast on lower government spending, fall in net exports

Economy to grow slower in 2023 than previously expected, as government spending slows and net exports fall, according to global research firm BMI
Street scene outside a luggage shop in downtown Kampala
Economy

Fitch holds Uganda’s credit rating at B+, expects little impact from anti-gay law fallout

Ratings company says impact of the anti-homosexuality law on government budget is manageable
The offices of the ministry of finance and economic development in Kampala