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…
Equity Group Holdings has reported a 32% increase in profit after tax for the first half of 2026, helped by stronger income, growth in its regional businesses and increased use of digital financial services. The Kenyan-based financial services group said profit after tax rose to KSh45.5 billion, (UGX 1.31 trillion), from KSh34.6 billion, (UGX 995…
Uganda’s investment outlook is strengthening as economic growth, rising foreign exchange reserves and the expected start of commercial oil production create new opportunities in agriculture, manufacturing, extractives, tourism and other sectors. Economist Stella Otieno said Uganda had maintained strong economic growth while inflation remained relatively low, giving investors a more predictable economic environment. Otieno was…
The Private Sector Foundation Uganda (PSFU) has urged East African Community member states to remove non-tariff barriers and protectionist policies that continue to make it difficult for businesses to trade across the region. PSFU chairman Humphrey Nzeyi said inconsistent policies, differences in bank interest rates and restrictions on the movement of workers are among the…
The growth of the Sino-Uganda Mbale Industrial Park is opening up new financing opportunities for manufacturers, suppliers and other businesses connected to the industrial hub following a partnership between Equity Bank Uganda and Tian Tang Group. The partnership is aimed at helping businesses within the industrial ecosystem access financing while improving their financial management skills…
Several local companies and institutions are seeking tax waivers running into billions of shillings, citing financial difficulties, declining revenues, loss of major contracts and growing debts. The requests are being considered as Parliament examines the government’s proposed framework for deciding which taxpayers facing financial difficulties should qualify for tax relief. Among the applicants is the…
By Darlington Mabonga Women coffee farmers under the International Women in Coffee Alliance (IWCA) Uganda chapter have asked the government to increase financial and technical support to help them raise production, improve household incomes and compete in local and international markets. The women, who took part in the three-day Uganda Coffee and Cocoa Expo 2026…
Ugandan manufacturers expanding into regional markets are increasingly looking for faster and more reliable ways to move money across borders as they seek to grow their businesses beyond the domestic market. For Mbale-based manufacturer, importer and exporter UKI Uganda Limited, delays in cross-border payments have been a challenge as the company expands its operations across…
By Darlington Mabonga Coffee farmers have called on the government to strengthen technical support for the agricultural sector to help producers access quality seedlings, genuine pesticides, affordable financial services, storage facilities, irrigation and reliable markets. The farmers said these interventions are important if Uganda is to increase coffee production, improve household incomes and maintain its…
By Santo Wani Stephen South Sudan’s economic challenges are often blamed on inflation, the high cost of living, unemployment, exchange rate instability and declining purchasing power. While these are genuine concerns, there is another crisis that receives far less attention but affects nearly every household: the lack of financial literacy. Financial literacy is not simply…
Equity Bank Uganda and Modern Group of Companies are strengthening their business relationship as the diversified Ugandan company looks to expand its operations and position itself for further growth in Uganda and the wider East African market. The partnership comes at a time when Uganda’s industrial sector is expanding and businesses are seeking financial institutions…
Government has increased the authorised share capital of the Uganda Development Bank (UDB) from Shs2 trillion to Shs5 trillion as it seeks to expand access to affordable long-term financing for businesses and other productive sectors of the economy. The decision is part of government’s efforts to use UDB to support economic transformation under the National…
Equity Bank Uganda has committed more than $50 million to Microhaem Scientifics to support the company’s expansion of medical manufacturing, including a new production facility at Namanve Industrial Park. The scale of the investment was highlighted on August 7 when Equity Bank Uganda board chairman Henry Rugamba, managing director Gift Shoko and other senior executives…
Diamond Trust Bank (DTB) has instructed its lawyers, K&K Advocates, to initiate the process of selling two properties in Soroti linked to firms associated with Capt Mike Mukula, a businessman and prominent politician, over an unpaid loan of Shs 3.4 billion. The properties were pledged as security for loans given to businesses associated with Mukula,…
When Master Grain Milling produced its first bag of wheat flour in 2013, the Jinja-based company was operating with a single production line. Thirteen years later, the company says it has grown into a structured agro-processing business with an annual turnover of more than Shs60 billion in the 2025/26 financial year. The company attributes part…
Stanbic Bank Uganda has become the first bank in Uganda to connect to China’s Cross-Border Interbank Payment System (CIPS), a move expected to make trade between Uganda and China faster, cheaper and more efficient. The new platform allows Ugandan businesses to make direct payments in Chinese Yuan (RMB), reducing the need to convert money through…
The Uganda National Bureau of Standards (UNBS) has defended cement manufacturers following concerns raised on social media about alleged underweight cement bags. UNBS executive director, James Nkamwesiga Kasigwa, said the bureau launched investigations after a video circulating on social media claimed that some cement bags being sold on the market did not meet the required…
Equity Bank Uganda has reaffirmed its commitment to women’s economic empowerment by sponsoring the third edition of the 2026 Watoto Golf Tournament with Shs10 million. The bank says the sponsorship reflects its continued support for initiatives that create sustainable livelihoods for vulnerable communities through entrepreneurship. The sponsorship was announced on Wednesday during the tournament’s partners’…
Equity Bank Uganda launched Equity Online for Business in April 2026, introducing a next-generation digital banking platform designed to simplify financial management for businesses of all sizes. The platform replaced the bank’s long-serving EazzyBiz internet banking system and was developed in response to changing customer needs and the rapid growth of digital banking. In this…
Posta Uganda has launched a new five-year strategic plan aimed at transforming its services through digital technology, improving customer service and creating more employment opportunities. The strategy covers the period 2025/2026 to 2029/2030 and is built on three key pillars: service delivery standards, a client charter and a strategic plan. It is guided by the…
The Public Procurement and Disposal of Public Assets Authority (PPDA) has urged accounting officers to fully implement the Electronic Government Procurement (e-GP) system in the 100 government entities where it has already been rolled out. The call was made during a training session for accounting officers held at the Ministry of Finance headquarters in Kampala….
The minister of Trade, Industry and Cooperatives Sanjay Tanna has called on the Indian community in Uganda to take advantage of the country’s favourable investment climate and continue investing in the country’s economic development. Tanna made the remarks during a ceremony that honoured three distinguished public servants of Indian origin. They included Tanna himself, High…
The deputy governor of the Bank of Uganda Prof Augustus Nuwagaba, has urged Ugandans living abroad to play a bigger role in the country’s economic transformation by turning remittances into long-term investments. Speaking during Equity Bank Uganda’s 2026 Diaspora Webinar, Nuwagaba said the diaspora should take ownership of Uganda’s economic story and demonstrate its contribution…
A total of 165 women-led enterprises have graduated from the Green Businesses and Jobs for the Green Transformation Project, a programme aimed at strengthening women entrepreneurship, creating green jobs and supporting Uganda’s transition to a sustainable economy. The graduates completed Cohorts One to Four of the programme, which is implemented by Stanbic Business Incubator Limited…
Uganda’s diaspora continues to send record amounts of money back home, and Equity Bank Uganda is stepping up efforts to help turn those remittances into long-term investments that create businesses, jobs and sustainable wealth. On Saturday, August 1, 2026, the bank will host the latest edition of its Equity Diaspora Webinar Series. The initiative is…
DFCU Bank has told shareholders to brace for a loss in the first half of 2026, and at the heart of the financial pain is a legal battle in London pitting the bank against tycoon Sudhir Ruparelia and his family. In a profit warning issued to the Uganda Securities Exchange on July 30, 2026, the…
President Museveni has pledged government support for the establishment of the $200 million Nonda Coffee Park in Nakaseke, a major agro-industrial project expected to strengthen Uganda’s coffee industry by adding value, creating jobs, and increasing export earnings. Museveni made the commitment during a meeting at State House Entebbe with a delegation from Nonda Coffee Park…
Stanbic Uganda Holdings Limited (SUHL), through Stanbic Bank Uganda and its non-profit arm, Stanbic Business Incubator Limited (SBIL), has launched two programmes aimed at empowering more than 10,000 low-income women entrepreneurs and 100 horticulture farmers in northern Uganda. The Women Economic Empowerment (WEE) programme, supported by the Gates Foundation, and the Albertine Agribusiness Development Programme…
Equity Group Holdings says its customers across the region, including in Uganda, are increasingly choosing to bank online rather than visit a branch, as the group pushes ahead with a technology-led transformation. According to the group’s quarter 1 2026 investor briefing, 98.3% of all transactions across the group now happen outside branches, and 89.5% are…
The Bank of Uganda has assured central bank governors from across the East African Community (EAC) that interest rates remain stable across the region, strengthening efforts to establish the long-awaited East African Monetary Union. The assurance was given by the Governor of the Bank of Uganda, Dr Michael Atingi-Ego, who also chairs the EAC Monetary…
South Sudan has reaffirmed its commitment to the East African Community’s plan to establish a Monetary Union by 2031. Speaking at the 29th Ordinary Meeting of the East African Community Monetary Affairs Committee in Kampala on Friday, the Deputy Governor of the Bank of South Sudan, Weituy Luony Babouth, said the committee remains a key…
DFCU Bank, through its foundation, has donated 100 desktop computers to the Ministry of ICT and National Guidance in a move aimed at expanding digital access, strengthening digital skills and creating more opportunities for young people. The computers were handed over at the National ICT Innovation Hub in Nakawa and will be distributed to selected…
Equity Bank Uganda increased its loans and customer deposits in the first quarter of 2026, even as the Bank of Uganda moved to tighten liquidity in the financial sector. Figures released in Equity Group Holdings Plc’s investor briefing show that the bank’s net loans rose by 5% over the year, reaching about Shs 1.42 trillion…
More than 30,000 low-income women entrepreneurs in the Busoga sub-region are set to benefit from affordable financing, business development support and digital financial services under a new partnership between the Busoga Kingdom, the Gates Foundation and Stanbic Uganda Holdings Limited (SUHL). The Women’s Economic Empowerment (WEE) Programme was launched at the Busoga Kingdom headquarters in…
Stanbic Bank Uganda has been named Uganda’s Best Investment Bank at the Euromoney Awards for Excellence 2026, strengthening its reputation as one of the country’s leading financial institutions. The award was announced by the London-based financial publication Euromoney on July 17, recognising the bank’s role in financing some of Uganda’s largest economic and infrastructure projects….
The First Deputy Prime Minister and minister for East African Community Affairs, Rebecca Alitwala Kadaga, has welcomed a proposal to establish the East African Digital Hub in Uganda, saying it will strengthen the country’s information and communications technology sector. The proposed hub is part of the wider African Heritage initiative, a high-level global and regional…
KCB Bank Uganda has partnered with Pearl Marina Estates to expand access to home financing, as the lender steps up efforts to make home ownership more affordable for Ugandans. The partnership was showcased during Pearl Marina Estates’ Phase II Agents’ Open Day held in Entebbe on July 15. The event brought together real estate agents,…
The ministry of Trade has urged the private sector and local alcohol manufacturers to encourage informal producers to formalise their businesses in a move aimed at increasing the country’s tax revenue. The call follows concerns raised by Uganda Breweries Limited (UBL), one of the largest taxpayers, which says it continues to shoulder a heavy tax…
Uganda’s bancassurance industry continues to demonstrate remarkable momentum, with banks generating more than Shs 80.8 billion in insurance premiums during the first quarter of 2026 alone. According to the latest industry performance report, Equity Bank Uganda ranked fourth among the country’s 22 licensed bancassurance providers, generating Shs 6.69 billion in Gross Written Premiums (GWP) and…
Shumuk Aluminium Industries has pledged to create more jobs for young people across the East African Community (EAC) if non-tariff barriers are removed to allow the free movement of goods and services within the eight-member regional bloc. Andrew Nangai, the Personal Assistant to the company’s chairman, Mukesh Shukla, made the remarks in an interview with…
As Uganda begins implementing the budget for the financial year 2026/2027, the permanent secretary in the ministry of Finance, Dr Ramathan Ggoobi, has said the country’s economy is performing strongly, with faster economic growth, low inflation and a stable Ugandan shilling. Ggoobi, while launching the 2025 Open Budget Survey results, attributed the performance to the…
Maganjo Grain Millers, an agro-processing company based in Maganjo, Wakiso, has appealed to members of the East African Legislative Assembly (EALA) to enact laws that will expand market access for locally manufactured products across the East African region. The appeal was made during the 2026 East African Community (EAC) Parliamentary Week held at the Parliament….
Equity Group has partnered with AfricaNenda Foundation and the Gates Foundation to accelerate the development of Digital Public Infrastructure (DPI) across Africa in a move aimed at expanding financial inclusion, strengthening digital payment systems and supporting cross-border trade. The partnership was announced in Nairobi on July 7. The initiative will begin in Rwanda before expanding…
The World Bank has urged the government to carry out urgent land reforms to remove bottlenecks that continue to slow the country’s construction sector. The call was made during the launch of the World Bank’s Country Economic Update, which focused on Uganda’s construction industry. Speaking to Bbeg Media after the launch at the World Bank…
MORRISON RWAKAKAMBA Uganda wants to grow its economy to $500 billion by 2040. That ambition will only be achieved if the country has enough reliable and affordable electricity to power industries, agriculture, homes, transport and digital services. Uganda currently has more than 2,000 megawatts of installed electricity generation capacity, most of it from hydropower. However,…
When Osward Kakande watched his mother suffer from persistent coughs and headaches caused by smoke from traditional cooking stoves, he never imagined that her experience would inspire a business now valued at more than Shs450 million. Today, the founder and director of Mubende Stoves is one of Uganda’s emerging clean energy entrepreneurs. His company is…
Business leader Charles Mbire has urged Ugandans to make integrity and good character the foundation of their financial and business success, saying trust has become one of the most valuable assets in today’s economy. Mbire made the remarks while delivering the keynote address at the inaugural SBG Securities Investor Day in Kampala. The event was…
Uganda has reaffirmed its commitment to working closely with the World Bank Group to accelerate the country’s economic transformation and improve the lives of its people. Speaking during the launch of the Country Partnership Framework and the Public Finance Review at Golden Tulip Hotel in Kampala, the minister of Finance, Henry Musasizi, said the government…
