Debbra Mugaga Muyinza Uganda’s gold industry has reached a defining moment. The question is no longer whether the country has gold or whether the mineral can earn foreign exchange. The real question is whether Uganda can turn this natural resource into a broader engine of economic growth. This question is central to the government’s Tenfold…
Uganda’s economy can grow faster if government tackles corruption, supports local investors and reduces the cost of doing business, according to research by Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury at the Ministry of Finance. Ggoobi’s research examines the factors affecting industrial growth in Uganda and highlights the need for government to…
Sesaco, a Ugandan food-processing company, is working to strengthen its operations and expand its range of value-added products as it continues to recover from the economic challenges caused by the Covid-19 pandemic. Charles Nsubuga, the company’s chief executive officer, said Sesaco is focusing on improving the quality of its products to compete more effectively in…
Uganda’s hospitality industry should invest in renewable energy and energy-efficient technologies to cut operating costs, attract investment and improve the country’s competitiveness as a tourism destination, Minister of State for Energy Phiona Nyamutoro has said. Nyamutoro made the call during the launch of the National Green Hospitality Initiative at Serena Hotel Kampala. The programme aims…
Obongi Health Centre IV, which conducts nearly 1,400 deliveries annually despite severe staffing and resource shortages, has received maternal healthcare equipment and supplies worth Shs40 million from Stanbic Bank Uganda. The donation includes 20 hospital beds, 30 mattresses, two patient monitors and 200 Mama Kits to improve care for pregnant women, mothers and newborns at…
Kampala traders affected by flooding in the city centre have asked the government to suspend plans to compensate them until concerns over missing names, disputed registration figures and suspected ghost beneficiaries are addressed. The traders, operating under the Uganda National Traders Association (UNATA) Kampala and the Nakivubo Agro Dealers Association, say genuine business owners who…
Equity Bank Uganda has committed Sh37.6 billion in green loans to support climate-friendly investments, as financial institutions and development partners step up efforts to accelerate Uganda’s transition to a green economy. The bank’s managing director, Gift Shoko, announced the figures during the third CEOs’ Breakfast Meeting and High-Level Dialogue on Green Economy, Sustainable Development Goals…
Mavid Pharmacy proprietor Suleiman Bukenya has appealed to President Museveni to intervene in a dispute over nearly Shs500 million that he says was agreed upon during court-supervised mediation but has not been paid. Bukenya says the money was part of a settlement reached between Mavid Pharmacy and Royal Group, a Pakistani company, following a long-running…
The government is considering introducing taxes on the estimated 1.2 million boda boda operators as part of efforts to increase local government revenue and improve service delivery. Isaac Isanga Musumba, chairperson of the Local Government Finance Commission (LGFC), said the proposal is among the measures being considered to widen the local revenue base and help…
The First Deputy Prime Minister and Minister for East African Community Affairs, Rebecca Kadaga, has urged South Sudan to protect the interests of Ugandan traders operating in the neighbouring country following reports that some small businesses had been stopped from operating. Kadaga said Uganda was concerned about reports that Ugandan-owned small and medium-sized enterprises had…
Stanbic Bank Uganda has donated information and communication technology (ICT) equipment worth Shs30 million to Ikafe Police Training School in Yumbe District to strengthen digital skills training for police recruits. The equipment is expected to help recruits develop skills in using digital systems, managing information and applying technology in policing as security agencies adapt to…
The Uganda National Oil Company (UNOC) is seeking $2.6 billion in additional funding from the government to finance its planned investments over the next four years, including refinery development, petroleum storage facilities and regional pipeline infrastructure. Emmanuel Mugagga, UNOC’s chief financial officer, told Bbeg Media at Parliament that the company had started engaging the Ministry…
The government will prioritise expanding Uganda’s tax base rather than introducing new taxes, Deputy Speaker Thomas Tayebwa has said, as the country seeks to improve tax compliance and raise more domestic revenue to finance its development plans. Tayebwa said the government had agreed with the Ministry of Finance to strengthen the Uganda Revenue Authority (URA)…
Equity Bank Uganda has recognised 80 customers for their loyalty, business growth and contributions to their communities as the bank marked Customer Service Week 2026 under the theme “Going the Extra Mile”. The customers were honoured at an appreciation breakfast held at Protea Hotel Kampala. Similar events were held in the bank’s northern, eastern and…
By Kaziro Kyambadde Uganda’s next phase of economic transformation will depend not simply on how much capital the country can mobilise, but on where that money goes, what it finances and what it ultimately enables. The economy has given us reason to be confident. Uganda’s economic growth accelerated from 6.3% in the 2024/25 financial year…
Col. Edith Nakalema, the head of the State House Investors Protection Unit (SHIPU), has commended the Netherlands for its contribution to Uganda’s economy, particularly in agriculture, agribusiness and other investment sectors. Nakalema said the Netherlands was one of Uganda’s leading sources of foreign direct investment, with more than 200 Dutch-affiliated companies operating in the country….
The Uganda Development Bank (UDB) has commissioned a new 14-storey headquarters in Kampala, marking a major step in the bank’s efforts to strengthen its operations and expand its contribution to Uganda’s economic transformation. The new UDB Tower is located at Plot 22, Hannington Road and brings the bank’s head-office operations together under one purpose-built facility….
Uganda’s private sector continued to expand in September, supported by sustained consumer demand and an increase in new orders, although rising fuel, transport and other operating costs put businesses under growing pressure. The Stanbic Bank Uganda Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 53.0 in September from 55.0 in August. Despite the…
Equity Bank Uganda has urged Ugandans living abroad to move beyond using remittances mainly to meet immediate family needs and invest part of the money in businesses, property and other assets that can generate income. For years, money sent home by Ugandans in the diaspora has helped families pay school fees, medical bills, build homes…
Equity Bank Uganda has renewed its commitment to Uganda’s mining and extractive sector, with a particular focus on helping artisanal and small-scale miners access formal financial services, equipment and markets. The bank says the move is aimed at addressing one of the biggest challenges facing Uganda’s mining industry: the limited access to finance among thousands…
CINAT Group has launched GRIND, an enterprise resource planning (ERP) solution designed to help businesses bring their key operations, people and information together on one digital platform. The platform was launched on October 1, 2026, by Cinat Technologies, the Systems & Software subsidiary of CINAT Group. In a statement, the company said GRIND is intended…
Uganda’s tourism sector has recorded strong growth, with international tourist arrivals reaching 1,642,215 in 2025 and tourism receipts rising to $1.62 billion, according to the Ministry of Tourism, Wildlife and Antiquities. The latest tourism statistics show that international arrivals increased by 19.7 per cent from 1,371,895 visitors in 2024. Tourism receipts also increased by 21.3…
Makerere University students have been urged to start small income-generating ventures, develop a culture of saving, and acquire practical skills as they prepare for life after university. The call was made during a financial literacy fireside chat organised by the Emerging Leaders Programme (ELP) in partnership with Stanbic Bank Uganda at Makerere University. The session…
The National Identification Number (NIN) will become the tax identification number for individual taxpayers under a new government system aimed at improving taxpayer identification, service delivery, and domestic revenue collection. The transition follows a Cabinet decision announced on September 1, 2026, approving the use of NINs issued by the National Identification and Registration Authority (NIRA)…
CINAT Group has launched GRIND, an enterprise resource planning (ERP) system designed to help businesses connect their operations, people and information on one digital platform. The system was launched on October 1, 2026, by CINAT Technologies, the Systems & Software subsidiary of CINAT Group. The company said GRIND was designed to simplify daily business operations,…
Uganda and Italy are set to strengthen their trade and investment ties as the two countries prepare to hold the first Uganda-Italy Business and Investment Forum in Rome on October 13, 2026. The forum, organised by the Embassy of Uganda in Italy with support from the United Nations Industrial Development Organization Investment and Technology Promotion…
The National Planning Authority (NPA) executive director Dr Joseph Muvawala has urged insurance companies to become more innovative and develop products that respond to the changing needs of Ugandans. Muvawala said the insurance industry has an important role to play in Uganda’s economic transformation by helping households and businesses prepare for future financial needs. He…
Airtel Africa and Starlink have launched a satellite-to-mobile service in Uganda, allowing Airtel customers with compatible smartphones to stay connected in areas where conventional mobile network coverage is unavailable. The launch makes Uganda the second African market where Airtel has commercially introduced the service, following the Democratic Republic of the Congo, where it was launched…
Glovo Uganda has renewed its focus on the safety and welfare of riders, with the company stepping up training, technology and other support programmes aimed at helping riders stay safe on the roads. The commitment was highlighted during a recent Rider Safety Event in Kampala, where riders received practical guidance on road safety and safer…
Uganda earned Shs663.28 billion from the extractive sector in the financial year 2023/24, but the industry contributed only 2.39% of the country’s total government revenue, raising concerns about whether the country is getting enough value from its mineral, oil and gas resources. The figures are contained in the fifth Uganda Extractive Industries Transparency Initiative (UGEITI)…
Prudential Uganda has launched three financial protection and savings products aimed at helping Ugandans plan for their children’s education, build wealth and provide financial security for their families. The products, Pru Edusave Plus, Pru Wealth and Pru Legacy, are designed around three common financial needs: saving for future education, building long-term wealth and creating a…
Uganda’s push to add value to agricultural and manufactured products has come under the spotlight as more than 150 investors, entrepreneurs and business leaders from 10 nationalities toured local enterprises during Equity Group’s 2026 Uganda and Rwanda Trade and Investment Roadshow. The delegation visited Zigoti Coffee Works Limited, Roofings Limited and RZ Innovations Limited. The…
Agriculture Minister Frank Tumwebaze has urged coffee and cocoa farmers not to panic over the recent fall in prices, saying the decline is largely linked to changes in global supply and market expectations rather than a collapse in demand. In a statement issued on September 20, Tumwebaze said coffee and cocoa are internationally traded commodities…
Goldstar Insurance Company has marked 30 years of operations in Uganda, with its leadership calling on the insurance industry to play a bigger role in supporting the country’s economic transformation and the 10-fold growth strategy towards 2040. The anniversary celebrations were held at Kabira Country Club in Kampala, bringing together the company’s clients, staff, business…
Delegates taking part in the 2026 Uganda Trade and Investment Roadshow visited Zigoti Coffee Works in Zigoti, Mityana District, to learn how Ugandan coffee moves from the farm to local and international markets. The visit gave investors, business leaders and other participants an opportunity to see the different stages of the coffee value chain, including…
The government has assured investors that Uganda offers a favourable and stable environment for businesses, citing reliable electricity, a stable currency, abundant natural resources and access to regional and international markets. The Minister of Trade and Industry, Sanjay Tanna, made the remarks during the third Trade and Investment Roadshow organised by Equity Bank Group at…
For David Balironda Mukasa, walking through his oil palm plantation in Kalangala is a reminder of how access to financial services has changed the lives of farmers on the islands. Mukasa, who has served in the leadership of the Kalangala Oil Palm Growers Trust (KOPGT) for more than two decades, says many farmers once struggled…
Stanbic Bank Uganda has donated 35 solar-powered street lights worth about Shs100 million to Kabale University to improve security and visibility on the campus. The donation is part of activities marking 35 years of Stanbic Bank’s operations in Uganda under the Standard Bank Group. The bank said the project is intended to make it safer…
Uganda’s insurance industry expects significant growth as increased government spending on infrastructure projects creates new opportunities for insurers, the Insurance Regulatory Authority (IRA) has said. Dr Protaszio Sande, the acting chief executive officer of the IRA, said government-funded infrastructure projects already underway are expected to generate more business for insurers as contractors, investors, and other…
Businesses supported by the Uganda Development Bank (UDB) created and sustained 69,202 jobs in 2025, a 24.6% increase from the 55,553 jobs recorded in 2024, according to a new report. The bank’s 2025 Development Impact Report, launched in Kampala on Wednesday, also shows that the enterprises increased their output, profitability, tax contribution and foreign exchange…
Uganda has opened talks with the United Arab Emirates (UAE) to have travel restrictions eased, Prime Minister Robinah Nabbanja has said, as more investors in Dubai express interest in doing business in Uganda. Nabbanja said the restrictions are affecting trade and investment between Uganda and the UAE because they are making it difficult for business…
Stanbic Bank Uganda has launched a new sustainability programme aimed at helping local businesses improve their environmental, social and governance practices and become better positioned to attract investment. The bank unveiled the Sustainability Academy and the ESG Client Readiness series in Kampala as part of activities to mark its 35 years of operations in Uganda….
Kampala businessman Drake Lubega has warned tenants in his commercial buildings against urinating in shops and common areas, with anyone caught breaking the rule facing a Shs1 million fine or possible eviction. The warning is contained in a notice issued by Tesco Industries Limited to tenants and building staff. The notice lists several rules that…
Stanbic Bank Uganda has launched a new campaign aimed at helping customers recognise and avoid the growing number of digital and cyber-enabled fraud schemes targeting bank users. The campaign, called ‘Stay Switched On’, seeks to give customers practical information on how to protect their money, personal information and banking credentials as more Ugandans turn to…
The Insurance Regulatory Authority of Uganda (IRA) has highlighted the growing contribution of the insurance sector to Uganda’s economic development and efforts to expand financial inclusion. An IRA team led by the acting chief executive officer, Dr Protazio Sande, briefed the State Minister for Finance ( General Duties), Cissy Mulondo, on the performance of the…
Madi-West Nile Diocese of the Church of Uganda and Equity Bank Uganda are working towards a formal partnership aimed at using church-owned land, institutions, and other assets to support economic development in the West Nile region. The proposed partnership is expected to go beyond ordinary banking services and focus on agriculture, education, healthcare, enterprise development,…
KCB Bank Uganda has taken its savings and financial inclusion campaign to communities across the country as it seeks to encourage more Ugandans to adopt regular saving and use formal financial services. The bank’s “Kyaddala ne KCB, Season 2” campaign, which runs from July 1 to October 31, 2026, has already moved through parts of…
A section of local businesses in Kansanga, Makindye Division, say rising rents, taxes and growing competition from businesses owned by refugees are making it increasingly difficult for them to survive. The traders told Bbeg Media during an interaction on the challenges affecting their businesses that some landlords had sharply increased rents as demand for commercial…
For owning a 2.5% stake in Bank of Baroda, business mogul Sudhir Ruparelia is set to receive a dividend of Shs2.25 billion for the financial year ended December 31, 2025. A dummy cheque was presented to Sudhir after the bank declared a dividend of Shs6 for 2025. Sudhir owns 375,163,500 shares in the bank. At…
Public procuring entities have been urged to make local content a central part of Uganda’s economic growth strategy so that government spending creates more opportunities for local businesses, workers and communities. The executive director of the Public Procurement and Disposal of Public Assets Authority (PPDA), Benson Turamye, said public procurement should go beyond compliance with…
