Shilling firms on steady inflows as global risks lift dollar and oil
The local currency held firm over the week, supported by steady inflows from commodity exporters, remittances and selective portfolio investments. The shilling strengthened to 3745/3755, compared to last week’s close of 3765/3775. Despite sustained foreign currency demand from corporates in manufacturing, energy and telecom sectors, pressure was not strong enough
Over 200 Schools shortlisted for the Stanbic National Schools Championship Boot Camp
A list of the 201 schools, taking part in a one week boot camp to kick-start the 11th edition of the Stanbic National Schools Championships (NSC), has been released with participating students converging on Gayaza High School in Wakiso District. Following a rigorous selection process, the boot camp will present
Atiak Sugar Factory sparks fury in Parliament over Shs668bn spending spree
Parliament has raised fresh alarm over the Atiak Sugar Factory project, questioning why Government continues to inject billions of shillings into a venture that has yet to produce a single bag of sugar despite receiving more than Shs668 billion in public funds. The concern came during debate on the Shs1.105
Govt Moves to License Starlink to Cut Internet Costs
Government is edging closer to granting an operating licence to Starlink, the satellite broadband venture backed by Elon Musk, as part of efforts to widen internet access and ease connectivity costs. ICT and National Guidance minister Chris Baryomunsi said discussions with the company are at an advanced stage, signalling a
Pearl Bank posts Shs47b profit in first results since rebrand
Pearl Bank Uganda has reported strong financial results for the year ended December 31, 2025, posting a net profit of Shs47.3 billion in its first performance release since rebranding from PostBank Uganda. The results signal a solid start under the bank’s new identity, following shareholder approval of the name change
Regional Push for Satellite Gains Momentum as Uganda, Kenya, Rwanda, South Sudan Sign Study Deal
Uganda, Kenya, Rwanda and South Sudan have taken a significant step towards reducing reliance on foreign-controlled communication systems after signing a joint resolution to undertake a feasibility study for a regionally owned satellite. The agreement, signed under the Northern Corridor Integration Projects (NCIP), signals a renewed push by the four
Internet Bus Turns Amuru into a Digital Classroom as 225 Graduate
MTN Uganda, through its MTN Foundation in partnership with Maendeleo Foundation, has deepened its rural digital inclusion drive after graduating 225 trainees in Amuru District under the Internet Bus programme, an initiative designed to bring ICT skills directly to underserved communities. The mobile training programme, delivered on a fully equipped
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
