The Ministry of Energy and Mineral Development today announced the appointment of Mr. Ernest Rubondo as the first Executive Director of the Petroleum Authority of Uganda (PAU).
The charges and rates are published by Bank of Uganda to “promote transparency and enhance competition in the provision of banking services.”
Stanbic Bank Uganda has released unaudited half year results showing net profit up 56.9%, while total operating income rose 28%.
Bank of Uganda on Monday cut its benchmark lending rate by 100 basis points to 14%, citing an improved near-term inflation outlook and the need to stimulate private sector credit growth.
Uganda will finally award three oil production licences, bringing to an end a drawn out process that industry watchers blame for pushing forward the date for first oil production and reduced investment by oil companies.
Fitch Ratings on Wednesday affirmed its B+ rating on Uganda, citing the country’s high levels of infrastructure spending and its sound macroeconomic policy framework
This brief is a roundup of the relevant and important political and economic developments that happened in July 2016.
Wim Vanhelleputte was appointed MTN Uganda’s Chief Executive Officer at the end of July 2016, replacing Brian Gouldie who left after only two years on the job.
MTN Uganda, the country’s biggest company by revenue, has appointed Wim Vanhelleputte as its new CEO, company sources told Uganda Business News. A formal announcement is expected to be made soon. The Belgian is expected to start work on August 1.
A year after government increased the single entry visa fee to $100 from $50, it reversed the decision. The new rate, $50, became effective on 22 July. Tourism operators and other stakeholders welcomed the announcement enthusiastically, saying it made Uganda more competitive in the region. But will the reduction in the fee increase the number of tourist arrivals?