Uganda, Tanzania Race to Fix Shs 9 Trillion Trade Imbalance
Uganda and Tanzania have agreed to eliminate all outstanding non-tariff barriers in an effort to rebalance a trade relationship currently weighed down by a Shs9 trillion ($2.4 billion) gap. The decision emerged from the fifth session of the Joint Permanent Commission where both countries agreed to move beyond diplomatic discussions
Breaking Barriers: Women Entrepreneurs Get Easier Access to Green Loans
For women entrepreneurs, access to financing has always been a major hurdle especially in green sectors often deemed too risky by traditional lenders. A new partnership between Finance Trust Bank and Investisseurs & Partenaires (I&P) is aiming to change that narrative. The two institutions have introduced a loan guarantee facility
Old Mutual Enhances Unit Trust with Life and Education Protection
Old Mutual Uganda has upgraded its Unit Trust investment offering by integrating life and education protection benefits for investors, aiming to strengthen financial security while encouraging long-term savings. The new product was launched by Old Mutual Investment Group Uganda in partnership with Old Mutual Life Assurance Uganda during a press
Mirai boosts the uptake of digitised Motor Third-Party insurance
Mirai General Insurance is boosting the uptake of digitised Motor Third-Party (MTP) insurance following the national digital transformation agenda. Last year, the Insurance Regulatory Authority of Uganda (IRA), in partnership with insurers and the Uganda Revenue Authority (URA), fully digitised Motor Third-Party insurance. The digital system replaces paper labels with
MTN Posts Shs 678.8bn Profit as Data and Fintech Drive Growth
MTN Uganda has posted Shs 678.8 billion for the year ended December 31, 2025, reflecting growing demand for connectivity and digital financial services as Uganda’s digital economy continues to expand. Service revenue increased 13.4% to Shs3.6 trillion, supported by rising internet usage and higher volumes of mobile money transactions. Earnings
Saudi Arabia Cuts Oil Output as Strait of Hormuz Crisis Pushes Prices Above $100
Saudi Arabia has begun cutting oil production as near-complete blockades of the Strait of Hormuz cause crude storage facilities across the Gulf to fill up, according to sources familiar with the situation. The move comes as several other regional producers — including the United Arab Emirates, Kuwait, Iraq and Qatar
Gov’t Calls on Manufacturers to Power Ten-Fold Economic Growth Plan
Uganda’s government has urged manufacturers to take a leading role in the country’s ambitious Ten-Fold Growth Strategy, which seeks to expand the economy from $50 billion to $500 billion by 2040. Speaking at the 3rd Annual Pre-Budget Breakfast Dialogue at Silver Springs Hotel, David Bahati said the manufacturing sector must
From Payments to Insights: Helping Ugandan Businesses Grow Smarter
Uganda’s economy is driven by micro, small, and medium-sized businesses. From neighborhood restaurants and retail shops to hotels, fuel stations, and online sellers, MSMEs create jobs, support communities, and keep the economy moving. Over the past decade, digital payments have transformed how these businesses operate. Today, customers expect to pay
China to Scrap Tariffs on Imports from 53 African Countries
China has announced that it will remove tariffs on 100 per cent of imports from 53 African countries beginning May 1, 2026, in a move expected to significantly expand Africa’s access to the Chinese market. The announcement was made by Wang Yi, China’s Foreign Minister, during a press conference held
Gulf Tensions Send Shockwaves Through Uganda’s Exports, PACEID Warns
Uganda’s exporters are bracing for bumpy waters as escalating tensions in the Middle East disrupt key shipping lanes, potentially driving up costs and delaying deliveries. The President’s Advisory Committee on Exports and Industrial Development (PACEID) said unrest around the Strait of Hormuz and the Bab el‑Mandeb Strait could ripple through
