Kenya moved up two places to rank eighth in the year 2022 in Absa Africa Financial Markets Index (AFMI). This was anchored on better environment, social and governance market frameworks as well as improving market transparency, tax, and regulatory environments in capital markets. It had previously held
Uganda won’t introduce fuel subsidies, said interim director at Finance Ministry Moses Kaggwa, even after pump prices spiked following supply disruptions. The disruption has been caused by Russia’s invasion of Ukraine. Subsidies and fuel tax rebates would cost the government much-needed revenue and increase the need to
Fuel prices have hit new highs in Tanzania as tensions in eastern Europe continue to impact the global oil market. According to the latest cap prices for May for petroleum products, announced late Tuesday by the Energy and Water Utilities Regulatory Authority (EWURA), petrol prices in
The International Monetary Fund is giving Uganda an additional Ksh.14.5 billion as part of an Extended Credit Facility Arrangement. In June last year, the IMF board approved a Ksh.114.3 billion arrangement for Uganda, to help the country overcome the effects of the COVID-19 pandemic. Under the Extended
Uganda’s Purchasing Managers’ Index (PMI) rose to 54.9 in January, up from 51.5 in December, according to a report issued Friday. The threshold of 50 is a baseline to indicate an increase or a decline in business conditions. The monthly report issued by Stanbic Bank Uganda attributed
Rwandan authorities said early Friday they would reopen the border with Uganda, ending nearly three years of a standoff that appeared to hurt both countries’ economies and raised fears of armed hostilities. The announcement came after a period of quiet diplomacy during which Ugandan President Yoweri
More than 650,000 Ugandan girls gave birth during the time schools were closed due to the COVID-19 pandemic. According to a report produced by UN Population Fund Research, during the 2021 lockdown, more than 32,000 teenage pregnancies were registered on average per month in Uganda. The
Uganda has its first seven cases of the omicron variant of the coronavirus, a health official confirmed Tuesday. The director of clinical services, Charles Olaro, said the variant was detected in travelers from South Africa and Nigeria who arrived in Uganda on November 29. “We have already
The fishing acrimony between Kenya and Uganda escalated Monday when traders from the Kenyan side claimed that they were stuck with at least 300 tonnes of fish destined for export at the Ugandan Border. This comes just two months after Uganda’s High Commissioner to Kenya, Amb Dr Hassan Wasswa
Some 27 Ugandans are stuck in detention facilities in China after they were arrested for illegal stay in the Asian country following the expiry of their visas. Sources close to Uganda’s embassy in Beijing, China, who spoke on condition of anonymity, said those detained include students, who completed their studies
