Category «Business»

Economist pokes holes in Uganda’s growth projections

By Samuel Ssebuliba Economists have predicted a slow economic growth for Uganda despite a promising recovery this financial year. The February macroeconomic economic update from bank of Uganda showed that Uganda’s economy will grow by 5.5% compared to the 3.9% growth registered in the year 2016-2017. According to Ramadan Goobi a renowned economist, even though …

BOU dismisses Bank of India take over reports

By Ritah Kemigisa Bank of Uganda has refuted as “false”, reports that it has taken over the management of Bank Of India. Social media reports had indicated that the Bank’s top management met with officials from the Central Bank led by the deputy Governor Louis Kasekende and reportedly requested for its closure on 31st March. …

Egyptian investors promised 3 square mile industrial site

By Benjamin Jumbe President Yoweri Museveni has promised to offer a 3 square mile industrial site to Egyptian investors. The president was on Thursday meeting a delegation of prospective Egyptian investors interested in establishing a new electricity distribution company and factory that manufactures wires, meters and transformers. During the meeting held at Statehouse Entebbe, President Museveni …

Uganda gears up for regional energy infrastructure summit

By Samuel Ssebuliba Uganda is gearing up for the East Africa Energy and Infrastructure Summit slated for February 6-8 in Kampala. The Summit will bring together regional governments, leading utility and regulatory companies from across the region, as well as international financiers and power developers, to discuss the most significant energy and infrastructure projects being …