Vitol Group
Foreign exchange
Museveni rejects selling dollar reserves to prop up the shilling
Uganda’s reserves stood at $6.52bn in August, nearly double February 2024, as Museveni urges fewer imports instead of dollar sales to support the shilling.
Parliament passes law giving government exclusive right to import fuel
MPs said the law will break Uganda's dependence on Kenyan dealers who charge extra fees, leading to higher fuel prices
Uganda refused use of Kenya’s pipeline in Vitol deal
Unoc failed to meet licensing requirements for certain annual petroleum sales in Kenya, operation of five service stations and a depot in Kenya
Vitol deal long overdue response to high Kenyan fuel prices – Museveni
President says Uganda's decision to give Vitol exclusive rights to supply fuel was to eliminate exorbitant fees charged by Kenyan middlemen