Coffee Exports Earn Uganda Shs 616.7 billion in One Month
Uganda earned US$ 167.78 million (Shs 616.7 billion) from the export of 555,756 60-kilogram bags of coffee to various international markets, according to the February 2025 monthly coffee report. The average price per kilogram of coffee was US$ 5.03 (Shs 18,488), an increase of US cents 29 from US$ 4.74
‘The era of aid or free money is gone’
In the face of dwindling global funding, tariffs, and geopolitical tensions, African Development Bank Group President Akinwumi Adesina said Africa must wean itself from aid dependency and urgently chart its future through self-reliance, strategic partnerships, and leveraging its vast natural resources. He spoke on Friday in Abuja at the 14th
UBL commissions a mini-water scheme, hand pump in Kabalore District
Uganda Breweries Limited (UBL), has today handed over the Shs 190 million solar-powered mini-water scheme in Hakibale Village and hand pump in Bulera Village, Kibasi Town Council, Kabarole District, which will serve 1,100 people. The commissioning was presided over by Victoria Rusoke, the State Minister for Local Government, who also
Afreximbank commissions first-of-its-kind African Trade Centre in Abuja, Nigeria – marking a new era for Intra-African trade
Multilateral Bank African Export-Import Bank (Afreximbank) has officially commissioned its first Afreximbank African Trade Centre (AATC) today in Abuja, Nigeria, ushering in a transformative era for trade and investment in Africa. During the grand commissioning ceremony, speakers, including Hon. Dr. George Akume, Secretary to the Government of Federation, Nigeria representing H.
Stanbic Bank hosts inaugural financial literacy training for education institution heads
Stanbic Bank has hosted an inaugural financial literacy session recently for senior administrators of primary, secondary, and vocational schools in the Kampala Metropolitan Area. The event took place at Hotel Africana, in partnership with Opportunity International, and brought together school directors, head teachers, and bursars for a comprehensive six-hour mentorship
Shilling Under Pressure Amid Global Market Volatility
Just like other emerging and frontier market currencies, the Ugandan shilling faced significant pressure this week as offshore investors sold off local debt and converted the proceeds into hard currency. This reaction followed a surge in global risk-off sentiment after the U.S. President announced new tariffs, fueling concerns of an
Flexipay Users to Win Shs 500,000 for Receiving Money in new Easter Campaign
As the Easter season approaches, Flexipay by Stanbic Bank has announced a new promotional campaign offering users the chance to win Shs 500,000 when they receive money from relatives abroad. From April 7 to June 30, 2025, customers using Flexipay’s international money transfer services will be automatically entered into a
Nigeria’s Agro-Revolution: Construction of Special Agro-Industrial Processing Zones begins
Nigeria’s food and agriculture sector is set to enter a new era of industrialization, as the Nigerian government, the African Development Bank , and the State government of Kaduna kickstart the construction of Phase 1 of the Special Agro-industrial Processing Zones (SAPZ) program. The groundbreaking ceremony starts in Kaduna where
Gov’t Warns Accounting Officers, Releases Shs 19.79 Trillion for Final Quarter of Fiscal Year
The Permanent Secretary to the Ministry of Finance, Ramathan Ggoobi, has issued a warning to accounting officers regarding delays in the payment of civil servants’ salaries. This comes in the wake of the government’s release of Shs 19.79 trillion for the final quarter of the 2024/2025 fiscal year. The Quarter
African Development Bank and Bank of Africa Tanzania sign $7.5 million facility to boost trade finance
The African Development Bank and the Bank of Africa Tanzania (BOAT) have signed a $7.5 million trade finance transaction guarantee facility to boost trade finance activities of the Bank of Africa in Tanzania. Under this facility, the African Development Bank will provide a guarantee of up to 100% to confirming banks
