The Road to Prosperity: How Namanve Is Rewriting Uganda’s Industrial Story
A few years ago, accessing land inside the Kampala Industrial and Business Park in Namanve was a nightmare. Investors struggled through muddy tracks, trucks routinely got stuck, flooding cut off entire sections of the park during heavy rains, and vast stretches of gazetted industrial land remained undeveloped. Today, that picture
Shilling weakens on dollar demand, geopolitical tensions
The Uganda shilling came under pressure during the week, weighed down by strong demand for the US dollar from local market players and offshore investors, alongside renewed geopolitical tensions in the Middle East. The local unit depreciated to close at 3670/3680, compared to the week’s opening levels of 3645/3655. Despite
Inside the released Shs 23.03 Trillion for quarter one spending
The Ministry of Finance has released Shs 23.03 trillion for the first quarter of the 2026/27 financial year, representing 27 percent of the approved national budget, as government moves to sustain service delivery and economic activity. The Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, said the releases have
NCBA targets SMEs with new business banking drive
NCBA Bank Uganda has intensified its focus on small and medium enterprises with the launch of a new Business Banking proposition, rolled out alongside the “Ku NCBA Kiggwa Ku Bwerere” campaign. The move signals the bank’s growing push to position itself as a key partner for Ugandan businesses, offering faster
Masaka Road corridor gets reprieve as UEDCL switches on new power integration lines
Thousands of electricity consumers along the Masaka Road corridor can finally breathe a sigh of relief after the Uganda Electricity Distribution Company Limited (UEDCL) commissioned new integration power lines, bringing an end to years of crippling power outages that had choked businesses and frustrated households. The newly commissioned lines, which
Africa Unlocked 2026 to convene business leaders in Cape Town
More than 140 business leaders, policymakers, investors and entrepreneurs from across Africa and key global markets will convene in Cape Town on July 9 and 10 for the Africa Unlocked 2026 conference, an initiative of Standard Bank aimed at accelerating trade, investment and sustainable economic growth on the continent. Hosted
Nakaseke dairy farmers turn to solar irrigation to beat drought, boost milk output
In Uganda’s cattle corridor, where prolonged dry spells have long undermined agricultural productivity, dairy farmers in Nakaseke district are increasingly adopting solar-powered irrigation systems to sustain fodder production and stabilise milk yields. The shift reflects a growing embrace of renewable energy as a practical response to climate change, with farmers
Museveni Demands Report on $21m BoU Fraud Scandal
President Yoweri Museveni has directed Finance minister Henry Musasizi to provide a detailed report on a fraud involving $21,013,562.31 (about Shs77.1 billion) at the Bank of Uganda (BoU). The funds, which were meant for servicing Uganda’s external debt, were instead diverted through fraudulent transactions to MJS International Ltd in London,
Shilling strengthens on FX inflows as markets eye new financial year pressures
The Uganda shilling strengthened this week, supported by end-of-financial-year tax conversions and steady dollar inflows from remittance firms, commodity exporters and offshore players, amid subdued corporate demand. By Friday morning, the local unit was trading at 3,645/3,655, an appreciation from the week’s opening levels of 3,690/3,700. Market analysts attribute the
FINCA ordered to pay Bajunana Shs 51m in wrongful dismissal case
The Industrial Court has ordered FINCA Uganda Limited to pay its former employee, Bajunana Gordon, a total of Shs 51 million in punitive damages, general damages and statutory severance pay after finding that his dismissal was unlawful. In a judgment delivered on July 1, 2026, Justice Anthony Wabwire Musana ruled in
