Shilling strengthens on dollar inflows
Healthy inflows from commodity exporters, interbank and NGOs led to a marginal strengthening of the shilling to close Wednesday’s session at the 3710/3720 levels from the day’s opening of 3725/3735,…
SOMACHI CHRIS-ASOLUKA IS THE NEW TEF CHIEF
The Board of Trustees of the Tony Elumelu Foundation, the leading philanthropy empowering young African entrepreneurs from all 54 African countries, has announced the appointment of Somachi Chris-Asoluka as Chief…
U.S Secretary of State, Sec Blinken; Tony Elumelu, convene U.S. and African entrepreneurs, investors, and policymakers, for Opening Reception of U.S.-Africa Leaders Summit
Picture Caption: Founder, Tony Elumelu Foundation and Group Chairman, United Bank for Africa(UBA), Tony Elumelu, CFR; United States Secretary of State, Anthony Blinken; and Co-Founder, Tony Elumelu Foundation, Dr. Awele…
Gen. Museveni passes out NWSC staff as body Marks 5 Decades of Excellence
The National Water and Sewerage Corporation (NWSC) has marked 50 years of passionate and dedicated service to the people of Uganda. During a grand ceremony at the Kololo Independence grounds,…
Airtel Money Uganda hit by Ugx30 billion heist – reports indicate
News reaching Codered Uganda’s news desk is that unidentified, but believed to be powerful hackers on Friday, October 28 broke into Airtel Mobile Commerce Uganda Limited (AMCUL) systems— making off…
Over 500 Teen Mothers & Women to receive Vocational Skills & Financial Literacy Training from Absa Bank Uganda Staff
Staff from Absa Bank Uganda today embarked on a journey to skill over 500 teenage mothers and women from the Central, West Nile and Albertine regions of the country in…
Banks hike lending rates as economy contracts
Stanbic Bank and Bank of Africa have issued notices of increases in their Prime Lending Rates, the lowest interest rates reserved for the best customers following closely on the heels…
Uganda risks recession as economy contracts
Uganda’s economy contracted by 1.6% for the quarter ended March 2022 as the benchmark Central Bank Rate (CBR) was raised to forestall inflation in the latest Bank of Uganda Monetary…
75% of Uganda’s workforce stuck in the informal sector
About 75% of Uganda’s workforce remains in the informal sector, with the youth and women overrepresented, Michael Atingi-Ego, the Deputy Governor, Bank of Uganda has said. While Speaking at the…
Bank of Uganda targets Central Bank Digital Currency (CBDC) in new strategic plan
The Bank of Uganda has launched a new five year Strategic Plan 2022 to 2027 (SP 2022-2027) with the aim of rolling out a digitally tracked Central Bank Digital Currency…