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Stock Market / Finance in Uganda

  • Uganda: Investment Opportunities in the Uganda Energy Sector

    UGANDA, 2017/03/12 1. It is my pleasure and honor to participate at this high level keynote address as part of the 3rd Annual Powering Africa Summit 2017. I will use this opportunity to highlight the efforts made by my country and the region; and the investment and business Opportunities in the energy sector. 2. Allow me thank the organizers of this Summit that is showcasing power, trade and infrastructure opportunities across the African continent, engaging principal decision makers from the American and African public and private sectors to explore how project bankability can be increased. 3. Africa’s economies have registered remarkable increase and expansion in the completed decade. As a result, the continent’s energy needs have as well grown and continue to grow substantially. However, lack of access to adequate and sustainable energy services remains one of the major constraints to economic development on the continent. Solid biomass is still a dominant source of energy in a lot of nations, supplying up to additional than 80% of their energy mix. Only about 32% of the people of Sub-Saharan Africa has access to electricity, with only 15% having access in rural areas. The per capita energy consumption for Africa is the lowest in the world. With limited generation capacity, low energy efficiency and nascent governance institutions in the energy sector, energy security is presently widely recognized as a critical concern that must be addressed instantly across the continent.
  • Uganda: We Are Not Exposed to Crane Bank Toxic Loans

    UGANDA, 2017/02/05 According to Bank of Uganda (BoU), one of the reasons Crane Bank became undercapitalised in a space of a year was because of the failure by borrowers to honour their deficit obligations. BoU reveals that by the time they took over management and operations of Crane Bank in October 2016, at least 20 % (about Shs300b) of total loans were non-performing loans (NPLs). dfcu, last week agreed with BoU, to acquire some of the assets and liabilities of Crane Bank, which includes some of the loans. The concern has been that dfcu may have acquired some of those toxic assets and have its capital eroded. However, dfcu Bank says they are not exposed to those toxic Crane Bank debts.
  • Uganda: Museveni Blames High Power Prices On AfDB Loan

    UGANDA, 2017/02/05 President Museveni has said that the high cost of electricity is not about to reduce until Uganda clears the outstanding loan from the African Development Bank (AfDB). The President was on Monday conference the President of the bank Mr Akinwumi Adesina at the sidelines of the 28th Ordinary African Union Summit of Heads of States and Governments in Addis Ababa, Ethiopia. The President's stand follow complaints by Ugandan manufacturers and other businesses about the high cost of electricity in the country, which they say makes their products uncompetitive in the region.
  • Uganda: Interest On External Debt Rises to Shs250b

    UGANDA, 2016/04/30 Uganda is projected to pay Shs250b in the next financial year in interest payment for the country's external deficit. The all, according to the Parliament Finance Committee, will rise from the Shs170b government paid this financial year. This means that each of the 34 million Ugandans - a lot of of whom earn less than Shs300,000 monthly - would have to, figuratively pay Shs440,000 to repay Uganda's Shs14.915 trillion external deficit.
  • Uganda Market expects stable rate as inflation eases

    UGANDA, 2013/11/05 Bank of Uganda is expected to keep the rate of its key monetary instrument steady next the of rate inflation eased in the month of October. BOU will make an announcement on the Central Bank Rate for the month of November, with some experts in the market expecting an unchanged rate, but most importantly with a wider section of the traders and public hoping the rate will boost credit increase as the festive season begins. "Considering the fact that there was a marginal decline in inflation, an indication that inflationary pressures are tapering off, one could take a view that BOU is almost at the edge, ready to lower the CBR," said Stephen Kaboyo, managing director at Alpha Capital.
  • Ugandan Shilling Stable

    UGANDA, 2013/06/03  The Ugandan shilling was stable on Tuesday ahead of Treasury bill and bond auctions this and next week at which interest from foreign buyers could offer the currency support, traders said. Commercial banks quoted the shilling at 2,600/2,610, unchanged from Monday's close. "End-month conversions are providing some relief to the shilling amidst a lull in customer appetite," said Thaib Lubega, trader at Stanbic Bank.
  • International Monetary Fund (IMF) for Uganda

    UGANDA, 2013/01/15 The Executive Board of the International Monetary Fund (IMF) today completed the fifth review under the Policy Support Instrument (PSI) for Uganda. The PSI for Uganda was approved on May 12, 2010and aims at maintaining macroeconomic stability and alleviating constraints to increase. The IMF’s framework for PSIs is designed for low-gain nations that may not need, or want, IMF financial assistance, but still seek IMF advice, monitoring and endorsement of their policies. PSIs are voluntary and request driven