Uganda

Diageo Sells Off Third African Brewery in Less Than a Year: What's Next?

22 hours ago

In a significant shift in its business strategy, British alcoholic beverage giant Diageo has finalized the sale of its third brewery in Africa within the span of just a few months. This latest divestment involves its interest in the Uganda Breweries, a notable player in the East African market. The decision has sparked discussions around the company's future plans and its strategic focus moving forward.

Urgent Appeal for Funds to Combat Ebola Outbreak in Uganda

30 days ago

The United Nations has urgently called for financial support to address the ongoing Ebola outbreak in Uganda, which has raised significant health concerns in the region. With the deadly virus spreading and the risk of further outbreaks increasing, the global community is being urged to step in to aid the affected areas.

Uganda Central Bank Keeps Interest Rates Steady Amid Inflation Concerns

2 months ago

The Bank of Uganda has decided to maintain its benchmark interest rate at 10.0%, a decision that reflects the central bank's cautious stance as it navigates various inflationary risks. This strategic hold marks a critical point for the country's economic policy as it strives to balance stimulating growth while combatting rising inflation pressures.

Kenya and UAE in Strategic Talks to Expand Railway Network to Uganda and South Sudan

3 months ago

In a significant move aimed at enhancing regional connectivity and trade, Kenya and the United Arab Emirates (UAE) have initiated discussions to extend their railway network to neighboring Uganda and South Sudan. This proposed railway line is seen as a crucial development that could strengthen economic ties and facilitate smoother transportation of goods and services across East Africa.

Standard Chartered Considers Divesting Operations in Africa: Focus on Zambia, Uganda, and Botswana

4 months ago

In a significant development within the banking sector, Standard Chartered Bank (StanChart) has revealed it is contemplating the sale of its banking subsidiaries located in Zambia, Uganda, and Botswana. This potential divestiture marks a strategic reassessment for the institution as it seeks to streamline operations and refocus its growth strategies in certain markets across the African continent.

Economic Impact of Anti-LGBTQ Laws: Uganda Faces a $1.6 Billion Loss

6 months ago

A recent study has revealed that Uganda's stringent anti-LGBTQ laws have had devastating financial repercussions for the country, costing an estimated $1.6 billion over the past year. The report highlights that government policies targeting the LGBTQ community not only raise serious human rights concerns but also significantly hinder the nation’s economic growth and international standing.

Uganda Slashes Key Interest Rate Again in Bold Economic Move

6 months ago

In a decisive move to bolster its economic landscape, Uganda has reduced its key interest rate for the second consecutive time. This decision comes amidst rising concerns regarding the country's economic growth trajectory and the impact of external factors on its financial stability. The central bank's action reflects a strategic attempt to spur borrowing, investment, and consumer spending.

China-Built Dam Commissioned in Uganda After Six-Year Delay

6 months ago

What will go down in the annals of infrastructural development in Uganda is the commissioning of a big dam built by the Chinese after putting up with a six-year delay. The Isimba Hydroelectric Power Station, likely to increase the nation's energy supply, was inaugurated on September 26th, marking a vital milestone in Uganda's pursuit of energy independence and economic growth.