By Mumba Kalifungwa As Uganda approaches the long-anticipated milestone of first oil, it does so at a moment of contradiction in the global energy narrative. On one hand, the world is accelerating towards a low-carbon future, with growing consensus on the need to scale up renewable energy. On the other hand, recent geopolitical shocks, including…
The chief executive officer of Equity Group Holdings, Dr James Mwangi, has called for bold and purposeful leadership to shape Africa’s future, saying the continent must take a more active role in the global economy. Speaking at the Rotary District 9214 Conference and Assembly 2026 held at Speke Resort Munyonyo, Mwangi said the current global…
Horticultural farmers in the Bunyoro region have entered a joint venture with local exporter KK Foods to supply fresh produce to Western Europe, including the United Kingdom, in a move aimed at boosting incomes and expanding into international markets. The farmers, operating under the Albertine Farmers Association (AFA), signed a memorandum of understanding with KK…
The Bank of Uganda has urged the public to use their resources sparingly as fears grow over a possible fuel crisis in the country. The warning comes amid rising pump prices, with some petrol stations reportedly closing due to shortages, while others have increased prices in response to limited supply. Speaking on the situation, Wasswa…
The Uganda Alcohol Policy Alliance (UAPA) has thrown its support behind the government’s proposed increase in excise duty on undenatured spirits below 80% alcoholic content, welcoming a move that would see the rate rise from Shs1,700 to Shs3,500 per litre. Juliet Namukasa, the chairperson of the alliance, said the measure was both timely and necessary….
The executive director of the Federation of Small and Medium Enterprises (FSME), John Walugembe, has called on local authorities to immediately suspend all demolition operations targeting small businesses until clear guidelines and alternative trading spaces are provided for affected vendors. Walugembe made the call in response to a nationwide crackdown on informal trade that began…
A cross-section of business groups has opposed the proposed tax amendment bills 2026, arguing that the measures are unfair and could disrupt their operations. The entities included the Uganda Hotel Owners Association (UHOA), Uganda Bankers Association (UBA), Institute of Certified Public Accountants of Uganda (ICPAU), Kampala Casino, the Uganda Alcohol Policy Alliance (UAPA), the Uganda…
Diamond Trust Bank has opened a new branch in Tororo, in a move aimed at expanding access to banking services in eastern Uganda and supporting local businesses. The Tororo branch, launched on April 10, is part of the bank’s wider strategy to strengthen its presence across the country and improve service delivery. Speaking at the…
Equity Bank Uganda has reaffirmed its commitment to the fight against HIV/AIDS by supporting the 2026 Kabaka Birthday Run held in honour of Kabaka Ronald Muwenda Mutebi II’s 71st birthday. Speaking ahead of the run, the bank’s executive director, Claver Sserumaga, said the institution was honoured to take part in the 13th edition of the…
By Mathias Jumba For years, Ntinda was largely seen as a residential suburb where people returned at the end of the workday. That description is now outdated. The area is evolving into a self-sustaining commercial hub within Kampala, with growing implications for how financial institutions position themselves to serve customers. At dfcu Bank, the purpose…
Equity Bank Uganda has launched a new digital platform aimed at transforming how businesses manage their finances, with regulators praising the move as a step towards a more efficient and inclusive banking system. The platform, dubbed Equity Online for Business, was unveiled at Protea Hotel in Kampala, marking a major upgrade from the bank’s previous…
Furaha Finserve Uganda has partnered with SurePay to expand access to affordable school fees financing for families across Uganda. The partnership will enable parents paying fees through the SurePay platform to access purpose-based school fees loans. The loans will be paid directly to schools to ensure continuity in children’s education. Furaha said it has already…
The five-year tenure of Robert Mukiza as director general of the Uganda Investment Authority (UIA) is set to expire this month, raising fresh questions about the agency’s leadership and future direction. It remains unclear whether Mukiza will seek reappointment. However, sources within the authority say discussions about succession and institutional restructuring are already under way….
Uganda Development Bank (UDB) has launched a regional office in Mbale City to expand its footprint and improve access to development financing in eastern Uganda. The new office, located on Masaba Road, will serve as a coordination and service centre for the Elgon, Teso, Bukedi, Busoga and Karamoja sub-regions. UDB said the facility will strengthen…
UN Women and Equity Bank Uganda have signed a partnership to advance women’s economic empowerment and financial inclusion in Uganda. The agreement was signed at Equity Bank’s boardroom at Church House on Kampala Road. The two-year partnership, running from April 2026 to March 2028, will focus on supporting women, including those in refugee-hosting communities, to…
A pair of surgical gloves, a cultural celebration, and a multi-trillion national plan converged at Bulange on 31 March 2026, highlighting how industry, tradition, and public policy are increasingly aligned in Uganda’s development agenda. At the seat of the Buganda government, East African Medical Vitals (EAMV) managing director Brian Kavuya handed a Shs 10m cheque…
Diamond Trust Bank Uganda has relaunched its flagship children’s savings product, the Kids’ Winner Savings Account, adding a life assurance component aimed at protecting families against unexpected shocks. The upgraded account, developed in partnership with Jubilee Life Insurance, combines long-term savings with insurance benefits to support children’s education and financial security. The product allows parents…
The 2024 Housing and Population Census paints a troubling picture for Uganda: youth unemployment stands at 16.1% among those aged 18 to 30, more than 10 million young people are outside work or training, and about 700,000 new job seekers enter the labour market each year. It was against this backdrop that Allen Kagina, a…
SBG Securities Uganda has introduced a US dollar fixed income unit trust fund, expanding its investment options beyond the Uganda shilling offering. The new product is aimed at giving investors more flexibility to diversify their portfolios across currencies amid global economic uncertainty. The firm said the move comes at a time of continued instability in…
Airtel Africa has announced the successful testing of satellite-powered mobile data and messaging services in Kenya, marking a major step toward expanding connectivity in remote areas. The tests were conducted in locations without conventional network coverage. In these areas, Starlink Mobile technology was activated, allowing 4G-enabled smartphones to connect directly to a network of more…
Transporters and traders have raised concern over rising fuel prices in Uganda, calling on the government to intervene. A litre of petrol currently goes for between Shs 5100 and Shs 5300 wile that of diesel costs between Shs 4700 and Shs 4900 at various fuel stations. This is an increment of about Shs 200 over…
Stanbic Uganda made an average of about Shs 1.62 billion in profit every day in 2025, underlining the scale of earnings at the country’s largest bank at a time when many businesses and households are struggling to stay afloat. This figure is derived from the group’s annual net profit of Shs 591 billion for the…
The government has expressed readiness to present a paper about the minimum wage, saying it is a key step toward improving workers’ pay in Uganda. The minister of State for Labour, Esther Anyakun, said the move follows a directive by President Museveni during last year’s International Labour Day celebrations, urging Parliament to recall and reconsider…
Stanbic Bank has launched a new campaign dubbed “Kikole Ku Speedii” aimed at making banking faster, simpler, and more convenient for its customers. Speaking at the launch, Head of Personal Banking Israel Arinaitwe said the initiative signals a shift from traditional banking processes to a more efficient and affordable digital experience. “We are moving from…
Uganda has launched a joint government roadmap aimed at turning growing internet connectivity into tangible economic gains, with a focus on jobs, innovation, and retaining value within the country. The plan, agreed between the Ministry of ICT and National Guidance and the Ministry of Science, Technology, and Innovation Secretariat, brings together two of the country’s…
Global unrest triggered by escalating tensions in the Middle East could unsettle financial markets, but Stanbic analysts say it may also create opportunities for disciplined investors willing to take a long-term view. That was the key message from analysts and investment advisers during a webinar hosted by SBG Securities Uganda. Grace Semakula, the chief executive…
Across Uganda, thousands of small businesses are operating under names their owners believe they fully control. But according to the Uganda Registration Services Bureau (URSB), many of those entrepreneurs have no legal claim to the brands they are building. Salons in Kampala, small shops, and online traders running businesses through WhatsApp and Instagram are investing…
Prime Minister Robinah Nabbanja has praised electric mobility company Spiro for its contribution to Uganda’s economy, saying the firm has invested more than $25 million in the country within 18 months of operation. Nabbanja made the remarks during a visit to the company’s assembly facility at Namanve Industrial Park, where she toured the plant and…
Government has pledged to support businesses investing in high-risk sectors by enabling them to access affordable loans through commercial banks. Dr Ramathan Ggoobi, the Permanent Secretary in thhe Ministry of Finance, made the assurance while appearing before the Public Accounts Committee (PAC). The committee, chaired by Mawogola South MP Goretti Namugga, was scrutinising issues raised…
Dr. Victoria Ssekitoleko, the former minister of Agriculture, has urged women entrepreneurs to build strong networks and sisterhood with female leaders in order to grow their businesses and influence policy reforms. Ssekitoleko, a renowned leadership mentor, made the call during a women in business symposium held at Gudiee Leisure Farm. The symposium, organised with support…
Airtel Uganda earned about Shs 1.2 billion in profit per day in 2025, underlining the scale of its growth as more Ugandans shift to digital services. The telecom firm reported a 41.1% rise in profit after tax to Shs 446.9 billion for the year ended December 31, 2025. When you break this down, it translates…
The French Development Agency (AFD) has signed a €40 million (about Shs 170 billion) financing agreement with the Uganda Development Bank (UDB) to support priority sectors of the economy. The funding package includes an additional €800,000 (about Shs3.38 billion) in technical assistance. The agreement was signed on Monday at UDB Tower in Kampala by Marc…
The Airtel Africa Foundation has committed Shs3.85 billion to support Uganda’s digital workforce through the Tech Fellowship targeting high-achieving students from low-income households pursuing higher education in science, technology, engineering and mathematics. The four-year initiative commenced after a rigorous selection process conducted between December 2025 and January 2026. It will provide a full scholarship to…
Peter Mukuru has joined the Uganda Development Bank (UDB) as director of business technology. In a statement, the bank said Mukuru brings “more than two decades of experience in business technology and digital transformation across development finance institutions, regulatory bodies, government agencies, utilities and the private sector.” Until recently, Mukuru served as IT project manager…
Stanbic Bank Uganda and the Buganda have launched Ssemaduuka, a one-stop agricultural business centre designed to expand access to structured credit for farmer-owned savings and credit co-operative organisations, strengthen governance and formalise coffee value chains. The initiative was launched at Mayors Gardens in Mubende Municipality. For more than a decade, Frank Nyanzi, a 57-year-old coffee…
Airtel Uganda has announced plans to equip 30 Muslim schools in Buganda with internet and information communication technology facilities to strengthen digital learning and bridge gaps in internet and social media use among students. The announcement was made during a breaking of the fast event organised by the Buganda Kingdom at Bulange in Mengo. Ali…
A joint British and Indian business delegation is in Uganda to explore investment opportunities across key sectors of the economy. The delegation comprises members of the Westminster Africa Business Association (WABA) and the South Asian Chamber of Commerce and Industry. The team has conducted site visits in Kapeeka and Jinja as part of efforts to…
Uganda’s public debt has risen sharply, largely driven by heavy spending in preparation for the country’s first oil production, the ministry of Finance has said. According to the Debt Sustainability Analysis Report for the 2024/25 financial year, total public debt increased from $25.59 billion in the 2023/24 financial year to $32.24 billion as of June…
The 2026 Stanbic Match Play Challenge qualifiers at Entebbe Golf Club produced a historic moment for Ugandan golf after Berna Musanabera won the tournament’s first-ever hole-in-one car prize. Musanabera delivered a hole-in-one on the par-three 12th hole to claim a Toyota Corolla Cross Hybrid insured by Afrisafe Uganda. She becomes the first golfer, and the…
Stanbic Bank Uganda’s chief executive, Mumba Kalifungwa, has urged leaders across government, business and finance to turn Uganda’s macroeconomic gains into inclusive and long-term prosperity as the country approaches commercial oil production. Speaking at the fifth Stanbic Economic Forum in Kampala, Kalifungwa said Uganda’s future “is not something to be observed from a distance, but…
Traders operating in various buildings in Kampala have called on President Museveni to personally intervene in their longstanding disputes with their landlords, whom they accuse of irregularly hiking rent, thus affecting their businesses. The appeal follows a meeting at the Office of the Prime Minister in Kampala, which brought together commercial landlords and traders to…
The 2026 Stanbic Economic Forum will focus on how Uganda can strengthen its competitiveness and position itself in a rapidly changing global economy as the country approaches the start of commercial oil production. The forum, themed: “Uganda’s Inflection Point: Competing in a Rewired Global Economy”, will be streamed live on Stanbic Bank’s YouTube channel on…
The last traces of businessman Apollo Nyegamehe’s vast wealth are up for sale, three years after he tragically died in an accident in Itojo, Ntungamo. In a notice published in the Daily Monitor today, law firm AF Mpanga gave Aponye’s estate 30 days to clear outstanding debts, or else some of the residential houses, warehouses,…
Jenifer Bamuturaki’s job at Uganda Airlines hangs by a thread after the board resolved to readvertise the position of chief executive officer, sources have told Bbeg Media. Positions of other directors are also likely to be re-advertised. The move could mean the end of Bamuturaki’s time at the national carrier, which has been characterized by…
Prime Minister Robinah Nabbanja has reaffirmed the government’s commitment to strengthening Uganda Development Bank’s (UDB) capital base to enable it to fully deliver on its mandate of accelerating Uganda’s socio- economic transformation. Nabbanja made the remarks on Friday while officiating at a ceremony where staff of UDB were passed out after completing a refresher training…
Stanbic Bank has urged Ugandans to embrace a saving culture as a foundation for achieving long-term financial stability and economic growth. The call was made by Israel Arinaitwe, Head of Personal Banking at Stanbic Bank Uganda, as January draws to a close, a period often marked by financial strain following festive season spending. Arinaitwe said…
The ministry of Finance has said Uganda’s economy has remained stable and has not experienced the inflationary spikes that have traditionally characterised past election cycles. Dr Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury, attributed this stability to long-term economic reforms that have strengthened fiscal discipline, monetary policy, and macroeconomic management. Speaking on…
Africa PR Week, the continent’s leading platform for public relations and strategic communications professionals, has named Stanbic Bank Uganda’s Kenneth Agutamba among the Top 100 Corporate Communication Leaders in Africa. The recognition, announced during Africa PR Week in Nairobi, places Agutamba among a select group of practitioners shaping how African organisations manage reputation, navigate complexity,…
John Fred Kiyimba Freeman’s appointment as chairperson of the Mengo Chamber of Commerce has been largely welcomed within Buganda’s business community. For many, the decision reflects a preference for steady, experienced leadership at a time when economic pressures are weighing heavily on traders and producers. Kiyimba is a long-established Kampala businessman known for his involvement…
Uganda has been racing to bring its oil and gas fields into commercial production, a long-awaited milestone that could propel it onto a path of double-digit economic growth from 2026. Oil and gas development is one of four strategic pillars underpinning Uganda’s long-term development plan to expand the economy tenfold — from about $ 50…
