Debt capital markets across Africa have remained robust despite macroeconomic and political challenges presented, indicating their growing maturity and depth – along with their ability to develop solutions in the face of volatility and change.
Inflation for the year ended November 2016 rose to 4.6% from 4.1% the previous month, the first increase since July, while core inflation – a key measure targeted by the Bank of Uganda – rose for the second consecutive month to 5.2%.
Ziria Tibalwa Waako has been appointed as acting chief executive officer of the Electricity Regulatory Authority, replacing Benon Mutambi who was recently moved to the Ministry of Internal Affairs as permanent secretary.
MultiChoice Uganda’s leading Pay television provider DStv has once again extended a generous hand to underprivileged schools by launching the MRC in Northern Uganda. Fifteen schools in the region have had digital learning equipment installed in their classrooms and turned into MultiChoice Resource Centers.
Banks will have to set aside higher levels of capital in 2017, with an additional surcharge for the three domestically systemically important banks, to protect against possible shocks, Emmanuel Tumusiime-Mutebile, the governor Bank of Uganda said on Friday.
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Uganda expects to have identified a lead investor in its proposed oil refinery by February next year, according to energy and minerals minister Irene Muloni.
MultiChoice subscribers with accounts in Stanbic bank, the largest bank in Uganda, can now pay charges through the bank’s mobile and online platforms at no extra charge.
Ratings agency Moody’s has cut Uganda’s long-term issuer bond rating by one notch to B2 from B1, but changed the outlook from ‘negative’ to ‘stable.’ Moody’s said the key driver of its downgrade is Uganda’s “sustained erosion of fiscal strength.”
A report tabled by the Nandala Mafabi, an FDC MP and former leader of opposition in parliament, said that in the last four years the telecom company “has continuously been on a freefall that has now reached alarming levels.”