At 6% annual increment in milk production, investments in milk and milk products processing for local, region and international market is very critical. Currently, 80.2% of the total milk produced …
-
Banking & SavingsFinanceLatest NewsNews
How Safe Is Your Money If Your Bank Or Telecom Company Closed?
The closure of Teefe Bank, Greenland Bank, and Crane Bank had a significant impact on the Ugandan banking sector. They led to a loss of confidence in the banking sector …
-
Banking & SavingsEconomicsFinanceLatest NewsNews
Bank of Uganda Issues First Islamic Banking License
Just a month after President Yoweri Museveni assented to the Financial Institutions (Amendment) Act 2023 to clear all the legal roadblocks to the commencement of Islamic banking products in Uganda, …
-
EnergyGlobal NewsLatest NewsManufacturingMineralsNews
Museveni Bans Exportation of Lithium to Boost Electric Car Manufacturing
As Uganda aims to position itself at the forefront of the global giants in electric vehicle industry and realize a vision of e-mobility through Kiira Motors Corporation, President Yoweri Museveni …
-
Global NewsLatest NewsNewsTechnologyTelecoms
Uganda’s Internet Traffic Spikes to 138.5 Million GBs.
The use of internet in Uganda soared from 91.4 million gigabytes (GBs) in March 2022 to 138.5 million GBs in March 2023, making a remarkable 51% surge, according to the …
-
Banking & SavingsEconomicsFinanceFintechLatest NewsNewsTechnology
What Happens to Unclaimed Money on Deceased Individuals’ Mobile Money Accounts?
When a mobile money account remains dormant for 15 months, the telecommunications company initiates a process to transfer the money on that account to Bank of Uganda. This action is …
-
Uganda’s trade imbalance with the rest of the world has narrowed by 32.2% both on a monthly and annual basis, the Ministry of Finance has reported. The Ministry’s monthly economic …
-
Butambala County Member of Parliament, Muwanga Kivumbi has been granted leave of Parliament to present a modification to the Public Finance Management Act 2015. This amendment primarily suggests that any …
-
The rapid evolution of Artificial Intelligence (AI) is fundamentally reshaping the operational landscape of businesses. This transformative technology is not only automating processes but also significantly enhancing decision making capabilities, …
-
The advent of the fifth generation of wireless technology, commonly known as 5G, has sparked a revolution in the realm of information and communication technology (ICT). Its unprecedented capabilities and …