Shilling Weakens as Global Tensions Rattle Markets
The local currency remained under pressure during the week, weighed down by sustained dollar demand from corporates, local banks and select offshore players. As a result, the shilling weakened to close the week’s trading at around 3755/3765, compared with 3715/3725 in the previous week. Dollar inflows from commodity exporters and
Uganda Secures Shs 11 Billion Boost for Clean Energy Access
Uganda’s energy transition is gaining fresh momentum after Absa Bank Uganda and the Uganda Energy Credit Capitalisation Company (UECCC) struck a Shs 11.085 billion concessional financing deal aimed at accelerating access to affordable clean energy solutions across the country. The facility, anchored under the Government’s Electricity Access Scale-Up Project, is
MTN Bets Big on Digital Backbone as Uganda’s Oil Era Nears Take-Off
As Uganda edges closer to its first oil, a new narrative is taking shape in the country’s petroleum sector, one where pipelines and rigs share the stage with data, connectivity, and digital systems. At the 11th Annual Oil and Gas Convention held at Speke Resort Munyonyo, MTN Uganda positioned itself
ABC Capital Bank Stages Comeback as Turnaround Strategy Pays Off
After a turbulent period marked by losses, ABC Capital Bank is steadily scripting a comeback, one that is beginning to validate its bet on digital transformation, disciplined management, and strategic repositioning. Fresh financial results for 2025 show a bank on the mend, with profit after tax surging by 285 per
Uganda’s Oil Sector Poised for Growth as First Oil Nears
Uganda’s journey towards first oil production is gaining momentum, with key industry players rallying behind efforts to ensure the country maximises value from its petroleum resources. This was the central message at the 11th Oil and Gas Convention 2026, currently underway at Speke Resort Convention Centre in Munyonyo, where government
Pearl Bank’s Agriculture Push Earns Central Bank Recognition
Pearl Bank’s growing influence in financing Uganda’s agriculture and small business sectors has earned it recognition from the Bank of Uganda, underscoring the lender’s expanding role in driving inclusive economic growth. The recognition, announced during a stakeholders’ workshop at Hotel Africana, highlighted the bank’s strong performance under the Agricultural Credit
From Subsistence to Scale: How dfcu Is Powering Uganda’s New Generation of Farmers
Uganda’s agricultural sector is undergoing a quiet but significant transformation—one driven not just by policy, but by farmers who are rethinking agriculture as a business. At the centre of this shift is dfcu Bank, whose long-running Best Farmers platform is helping to turn smallholder ventures into scalable agribusinesses. Since 2014,
Atingi-Ego Warns Sovereignty Bill Could Shake Economy
Bank of Uganda Governor Michael Atingi-Ego has warned Parliament that passing the proposed Protection of Sovereignty Bill, 2026 in its current form could trigger serious economic disruption, weaken the shilling, and undermine the country’s ability to sustain critical financial inflows. Appearing before a joint sitting of Parliament’s Defence and Internal
CNOOC Uganda Limited Conducts Kingfisher Oilfield Well Control Emergency Drill to Strengthen Safety and Response Preparedness
CNOOC Uganda Limited (CUL), in collaboration with its contractor CENERTECH and partner Infiniti Line International Limited, has conducted a Well Control Emergency Drill at the Kingfisher Oilfield, reaffirming our commitment to safety, operational excellence, and emergency preparedness. The exercise brought together key stakeholders from government, regulatory bodies, and industry to
DTB Uganda recognised for client service excellence
Diamond Trust Bank (DTB) Uganda has strengthened its standing in the financial sector after emerging 1st Runner-Up for Best in Client Service at the 8th Bi-annual Uganda Revenue Authority (URA) Bankers Appreciation Conference held last week. The event, hosted at Mestil Hotel in Kampala, brought together key industry players and
