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Shilling sheds value as dollar demand grows; Central Bank to auction Ugx285 billion

Shilling sheds value as dollar demand grows; Central Bank to auction Ugx285 billion

The local currency continued to lose ground as both offshore and local interbank demand exceeded month-end inflows, Richard Nsubuga, a trader at Absa bank CIB Markets department said. The shilling closed the day trading at

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Mid-term benefit recipients set for 2.5%, rest to get 9.65% as NSSF Uganda weathers choppy waters to deliver Ugx1.38 trillion interest to members

Mid-term benefit recipients set for 2.5%, rest to get 9.65% as NSSF Uganda weathers choppy waters to deliver Ugx1.38 trillion interest to members

The National Social Security Fund (NSSF) withstood tough economic conditions occasioned by the residual effects of the Covid-19 lockdown, economic contraction in the quarter ended March 2022 and mass withdrawal of savings through the mid-term

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AGILITEE ROLLS OUT ELECTRIC VEHICLES, SCOOTERS IN ZIMBABWE

AGILITEE ROLLS OUT ELECTRIC VEHICLES, SCOOTERS IN ZIMBABWE

Agilitee, the market leader in Artificial Intelligence, electric vehicles and the green revolution giant has commenced the roll out of electric vehicles in Zimbabwe. Most of the customers have started collections of their delivery scooters

Business
UDB registers UGX 2.5 trillion output value in 2021

UDB registers UGX 2.5 trillion output value in 2021

Uganda Development Bank, the country’s National Development Finance Institution, recently released its 2021 Direct Impact Report highlighting the fundamental role that the Bank continues to play toward Uganda’s sustainable socio-economic transformation and growth. This Direct

Markets
Shilling stable against dollar

Shilling stable against dollar

The Ugandan shilling was stable on Friday, with dollar inflows from commodity exports and remittances lending support, traders said. A Centenary Bank report indicates that the dollar's surge to new highs, even as monetary authorities

Business
Shilling closes week narrowly weaker

Shilling closes week narrowly weaker

It was quiet trading during Friday’s session as expected with the shilling opening trading at the 3805/3815 levels and closing at the 3810/3820 levels, still within a narrow range, a report by Absa bank indicates.

Markets
Bank of Uganda mops Ugx45 billion on Thursday

Bank of Uganda mops Ugx45 billion on Thursday

The shilling continued to swing within a narrow range, closing the day at 3805/3815 from opening levels of 3810/3820 as dollar inflows from NGOs and exporters were matched with Corporate demand from the manufacturing, energy

Markets
BOU auctions Ugx285 billion in treasury bills

BOU auctions Ugx285 billion in treasury bills

The shilling weakened marginally to close Wednesday’s session at the 3810/3820 levels having opened trading at the 3805/3815 levels. Pockets of demand from Corporates and the interbank led to the shilling weakness, Catherine Kijjagulwe, Head

Business
TechPR Nigeria announces pan-African expansion, appoints Felicia Omari Ochelle as CEO

TechPR Nigeria announces pan-African expansion, appoints Felicia Omari Ochelle as CEO

TechPR Nigeria, a public relations and communications firm co-founded by former Editor-in-Chief of TechCabal, Adegoke Oyeniyi, has announced the appointment of Felicia Omari Ochelle as CEO.Since its inception in 2019, TechPR has helped leading startups

Markets
Collective Investment Scheme Assets register 13.7% rise in quarter ended June 2022

Collective Investment Scheme Assets register 13.7% rise in quarter ended June 2022

The level of savings and investment in Uganda’s capital markets has grown significantly, notwithstanding the reduction of disposable incomes as a result of the prevailing inflationary pressures, the Capital Markets Authority (CMA) latest quarterly bulletin

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