Uganda | - Part 2

Assessing Uganda’s Fiscal and Monetary Policies in 2017 and beyond

KAMPALA (Capital Markets in Africa) – Uganda’s rate of growth, though positive, has slowed over the past few years to average 4.5 percent in the last five years compared to 7.4 percent in the preceding period. Core inflation has been in line with the target of 5 percent over the medium term, with the few deviations from the target arising largely from supply side shocks caused by developments on the global scene as well as…

Africa’s Central Bank Monetary Policy Rates and Foreign Exchange Reserves

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LAGOS (Capital Markets in Africa) – Angola’s central bank kept its benchmark lending rate unchanged at 16 percent following a policy meeting on Friday 28th April 2017, the bank said in a statement posted on its website. The National Bank of Angola (BNA) has kept its key rate steady since June last year when it raised it to the current level to curb accelerating inflation. In 2016 the BNA rate was raised 500 basis points….

INTO AFRICA May 2017 Edition: Africa’s Insurance Markets Uncovered

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LAGOS (Capital Markets in Africa) – Welcome to the May 2017 edition of INTO AFRICA, the publication with fresh insight into Africa’s emerging capital markets. This edition focuses on the Insurance sector and is titled: Africa’s Insurance Markets Uncovered marks an exciting time in the sector. Please download by clicking: INTO AFRICA PUBLICATION: MAY 2017 EDITION. The insurance sector remains under-developed in Africa (it generates barely 1.7% of global insurance premiums) despite being home to 15% of the World’s population,…

February’s Inflation Trends Across the African Continent

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LAGOS (Capital Markets in Africa) – Angola’s consumer inflation edged down to 39.45% year-on-year in February from 40.39% in January, data from the statistics office showed. On a monthly basis, consumer prices increased 2.59% compared to 2.25% in January. Botswana’s consumer inflation quickened to 3.4% year-on-year in February from 3.1% in January. Prices rose 0.2% month-on-month compared to 0.4% previously, Statistics Botswana stated. Burundi’s year-on-year inflation rate climbed to 20.7% year-on-year in February from 12.9% in…

IMF Sees Ugandan Growth Rebound in 2017-18 on Infrastructure

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KAMPALA (Capital Markets in Africa) – Economic growth in Uganda may accelerate in the coming fiscal year, underpinned by government spending on infrastructure and an anticipated recovery in lending to the private sector, according to the International Monetary Fund. The growth rate may increase to 5.5 percent in the 12 months through June 2018, compared with an estimated 4.5 percent this year and 4.8 percent in the prior 12-month period, Clara Mira, IMF’s resident representative…

Facebook Offers Free Wifi Hotspots to Sustain Nigeria, Kenya Customer Growth

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LAGOS (Capital Markets in Africa) – Facebook Inc. has increased the number of its African users to 170 million and plans to expand further by adding wifi hotspots and laying fiber-optic cables in a bid to spread its reach outside of developed markets. The figure is 42 percent higher than when the U.S. social network first opened an African office in 2015, Carolyn Everson, vice president of global marketing, said in an interview in Johannesburg on Tuesday….

Uganda says seeking $500 million loan from China for roads in oil area

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KAMPALA (Capital Markets in Africa) – Uganda says it has asked China for a $500 million loan to help build almost 600 km (360 miles) of roads in the country’s oil-rich west, amid criticism over heavy borrowing that has ballooned the country’s debt. Uganda has discovered an estimated 6.5 billion barrels of crude reserves on its Albertine rift basin along the border with the Democratic Republic of Congo. However, lack of infrastructure, such as roads…

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