Uganda | - Part 3

Uganda Current-Account Gap to Widen on Projects, World Bank Says

KAMPALA (Capital Markets in Africa)- Uganda’s current-account gap could widen to between 8 percent and 10 percent of national output annually over the next two years as imports for infrastructure and oil-related projects grow, the World Bank said. The shortfall on the current account, the broadest measure of trade in goods and services, in the East African nation on the cusp of becoming an oil producer came in at 5.9 percent of gross domestic product…

Which Path Africa’s Inflation Rate is Taking in January?

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Angola’s inflation slowed to 40.39% year-on-year in January from 41.95% in December, data from the national statistics agency showed. Prices increases on a month-on-month basis rose 2.29% in January compared to 2.17% previously. Botswana’s consumer inflation inched up to 3.1% year-on-year in January from 3.0% in December, data from the statistics office showed. Prices rose 0.4% month-on-month compared to 0.1% previously. Burundi’s year-on-year inflation jumped to 12.9% in January…

FinTech Impact for Africa: Re-Imagining Financial Services

Posted on by The Editorial Team

7th March 2017, Uganda: FinTech players are increasingly becoming an important part of the fabric of Africa’s financial services industry. In addition, the leading banks on the continent are now harnessing innovative technology to meet market needs and are also collaborating with FinTech start-ups to help them connect with under-served consumers, improve financial inclusion and provide a platform to scale much faster. Combining a highly innovative and interactive event format with world‐class speakers and more…

Bank of Uganda Slashes Benchmark Rate amid shrinking growth

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KAMPALA (Capital Markets in Africa) – The Bank of Uganda on Wednesday lowered the central bank rate by 50 basis points from 12 percent, set in December 2016, to 11.5 percent. The cut was necessary to “support economic activity”, according to the Monetary Policy Statement for February 2017. It is the sixth consecutive cut since the central bank started easing the policy rate in April 2016. “A further cautious easing of monetary policy is warranted to…

Lagarde Says Trump’s Fiscal Plans Likely to Boost U.S. Economy

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KAMPALA (Capital Markets in Africa) – President Donald Trump’s plans to overhaul the U.S. tax system and increase infrastructure spending should accelerate growth in the world’s biggest economy over the next two years, said International Monetary Fund Managing Director Christine Lagarde. “We think there is a high probability of that in the next couple of years,” Lagarde said Friday in an interview in Kampala, the capital of Uganda, where she met President Yoweri Museveni. In an economic update…

Uganda negotiating $2.3 bln loan with China to fund rail line

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KAMPALA (Capital Markets in Africa) – Uganda is negotiating a $2.3 billion loan with China’s Exim Bank to fund an initial 273 km stretch of rail line the east African country is planning to build for faster and cheaper transportation, an official said on Thursday. Landlocked Uganda eventually wants to construct a 1,700 km standard gauge railway network to connect with similar lines being built in neighbouring Kenya. The rail links are expected to help…

Pearl Capital Partners reaches first close for Uganda fund

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KAMPALA (Capital Markets in Africa) – The European Union (EU), the International Fund for Agricultural Development (IFAD) and the National Social Security Fund (NSSF) are working together to catalyse investment in the agriculture value chain with the launch today of the Yield Uganda Investment Fund. An initial EUR12mn (UGX46bn) has been made available to provide much needed access to capital for small and medium agri-businesses in Uganda. This new impact Fund, being arranged by Deloitte…

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