Trade deficit narrows in December
The Uganda merchandise trade deficit narrowed for the second consecutive month in December as gold imports and exports recorded steep declines
Uganda Business News
Australia’s Worley, France’s Schneider, Bolloré tipped for $3bn pipeline tenders
Australia’s WorleyParsons Ltd is the frontrunner for the engineering, procurement, and construction management tender for the Uganda-Tanzania East African Crude Oil Pipeline
Bank lending growth signals gradual recovery
Lending growth climbed to its highest level in seven months in December, an indicator that economic activity is gradually recovering from the impact of the coronavirus pandemic, according to Bank of Uganda statistics
What next for Uganda’s oil and gas sector after final investment decision?
The projects’ technical schedule indicates that first oil will be achieved 36 to 45 months after the final investment decisions. Those months will be characterised by intensive activity as FID unlocks the detailed engineering, procurement, and construction phase of the projects, where the bulk of opportunities lie
Business activity rises to 8-month high as economy reopens
A gauge of Uganda private sector activity rose to its highest level in eight months, a sign that the economy is regaining momentum following the relaxation of Covid-19 restrictions
URA revenue collections increase
Uganda’s revenue collection increased 7.3 per cent in the last six months of 2021 – rising by Shs690.6bn compared to the same period a year earlier
Oil companies take final investment decision on Uganda projects
TotalEnergies, the French energy group, and the China National Offshore Oil Corporation have announced the long-awaited final investment decision for Uganda’s oil projects, collectively referred to as the Lake Albert Development Project
Inflation slows in January as transport costs drop
Declines in transport costs, resulting from the relaxation of Covid-19 lockdown measures, and the prices of alcohol, tobacco, and narcotics led to a fall in Uganda’s inflation in January
Dfcu warns profit will be hit by loan provisions
Dfcu Group warned Friday its full-year earnings for 2021 will fall by as much as 25 per cent on an increase in loan-loss provisions and the impairment of some assets acquired from Crane Bank
Announcement of the death of the governor, Bank of Uganda
Mr Tumusiime-Mutebile passed away at the Nairobi Hospital on Sunday, 23 January 2022 at about 05:00