Egypt: African Development Bank to provide $184.1 million for Africa’s largest solar energy and battery storage projec
The Board of Directors of the African Development Bank Group has approved a financing package of up to $184.1 million to support the development of the Obelisk 1-gigawatt solar photovoltaic project and 200MWh battery energy storage system in Egypt, which will be Africa’s largest solar power plant. Located in Qena Governorate
NCBA Junior Golf Series Concludes Successful Second Season
NCBA Bank has concluded the second season of its flagship NCBA Junior Golf Series with a vibrant and competitive grand finale at the Lake Victoria Serena Golf Resort and Spa. This season-ending event brought together over 100 promising junior golfers from Uganda and across East Africa, marking a major milestone
Boeing 787 Dreamliner crashes, claims over 200 lives
Air India’s Boeing 787 aircraft (AI 171) which took off from Ahmedabad to London on Thursday (June 12, 2025), crashed minutes after taking off in the outside perimeter of the Sardar Vallabhbhai Patel International Airport, stated the Directorate General of Civil Aviation (DGCA). Carrying 242 people on board, the pilots
Gov’t Grants Tax Holiday to Start-Ups to spur growth
In a dramatic gesture hailed as bold and possibly useful, the Ugandan government has announced a three-year tax holiday for start-up businesses owned exclusively by Ugandan citizens provided they manage to survive the labyrinth of bureaucracy, unstable power supply, and regulatory whiplash. The announcement was made by Finance Minister Matia Kasaija
Uganda’s Debt shoots up Amid Increased Borrowing
Uganda’s public debt stock is expected to rise significantly in the 2025/26 financial year, Minister of Finance Matia Kasaija announced during the reading of the Shs 72 trillion national budget. According to Kasaija, the public debt is projected to reach USD 31.5 billion (Shs 116 trillion) by the end of
Uganda’s Economy Projected to Grow by 7% with Double-Digit Growth from Oil and Gas Production
Uganda’s economy is projected to grow by at least 7.0 percent in the 2025/26 financial year, and to achieve double-digit growth with the commencement of oil and gas production, according to Finance Minister Matia Kasaija. He made the announcement during the presentation of the Shs 72 trillion national budget for
Museveni: Digital Number Plates Are About Security, Not EPS Fines
President Yoweri Museveni has revealed that the implementation of digital number plates is not driven by financial motives or the imposition of fines, but rather by the need to curb crime. He made the statement during the reading of the 2025/26 national budget at Kololo Ceremonial Grounds. Museveni’s remarks came
Coca-Cola Beverages Powers Uganda Athletics Centenary Celebration as Official Hydration Partner
Coca-Cola Beverages Uganda (CCBU) proudly served as the official hydration partner for Uganda Athletics’ landmark event, “100 Years of Excellence and Dedication to Sports.” Held on Saturday, 7th June 2025, at Mandela National Stadium, the centenary celebration marked a historic milestone—commemorating a century of organised athletics in Uganda. The event
Pride Bank Limited Earns Dual Recognition in Bank of Uganda Awards for Excellence in Agricultural and Small Business Lending
Pride Bank Limited is pleased to announce its dual recognition as First Runner-Up in both the Agricultural Credit Facility Award and the Small Business Fund Award under the general category of Best Performing Financial Institution among Credit Institutions and Microfinance Deposit-Taking Institutions, as of March 31, 2025. These prestigious accolades
EU Delists Uganda, Tightens Anti-Money Laundering Rules
The European Commission has delisted Uganda from the list of high-risk jurisdictions presenting strategic deficiencies in their national anti-money laundering and countering the financing of terrorism (AML/CFT) regimes. EU entities covered by the AML framework are required to apply enhanced vigilance in transactions involving countries on this list. This measure
