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
Absa Bank Uganda appoints Keith Kalyegira as Board Chairperson
Absa Uganda’s Board of Directors has appointed of Keith Kalyegira as the new Chairman of the Board, effective 1 March 2025. Keith is a highly respected and seasoned advisor on strategy, investments, and capital markets, with a wealth of experience cutting across both the public and private sectors. Keith previously
Ugandan Shilling Remains Stable as Kenya’s Currency Faces Pressure
The Ugandan shilling remained stable throughout the week, trading consistently at 3660/3670 per dollar. The short-term outlook appears positive, with expectations that the shilling will continue its upward trend, likely fluctuating between 3640 and 3690 in the near term. Richard Nsubuga, Trader CIB Markets at Absa Bank Uganda, noted that
KCCA Executive Director Named Chief Runner for Absa 7 Hills Run
Absa Bank Uganda has appointed Kampala Capital City Authority’s (KCCA) Executive Director, Sharifah Buzeki, as the Chief Runner for the 2025 Absa KH3 7 Hills Run. Buzeki’s participation highlights the significance of public-private partnerships in driving meaningful social change. While receiving her running kit from the Absa team, Buzeki emphasized
Absa Bank Launch Exclusive Visa Infinite, Signature, and Business Cards
Absa Bank Uganda, in partnership with Visa, has launched three new premium card solutions, Infinite, Signature, and Business Credit Cards designed to cater to the unique needs of affluent and business customers. The Infinite Card, a globally recognized ultra-premium debit or credit card, is the first smart, elegant metallic card
Local currency holds steady amid dollar inflows
The local unit was largely stable this week as dollar supply from commodity exporters and portfolio investors continued to keep existing demand from energy and manufacturing firms at bay. The local unit was seen trading at 3675 / 3685 levels on Friday, a little weaker than the week’s opening of
