Today's News

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Uganda's Budget Soars: A Look at Priorities and Potential Challenges

The Ugandan parliament recently approved a hefty budget of 72.13 trillion shillings for the 2024/2025 fiscal year. This marks a significant 19.43 trillion shilling increase compared to the previous year, reflecting the government's ambitious spending plans. However, this substantial jump also raises questions about its sustainability and potential challenges.

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Coffee exports fall at steepest pace since December 2022

Coffee exports fell by the most in fourteen months in February due to a drought in the Mount Elgon region, although higher global prices led to a significant increase in receipts.

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Equity Bank launches investigations into fraud claims

Equity Bank has opened investigations into suspected fraud in its stock loan and agent float financing.
Most of the affected customers were those using mobile banking services. They said some unscrupulous individuals had been managing to reset their PINs and withdrawing their money without their knowledge.

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Last Week's News

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URA lauds Uganda Baati as it encourages compliance in private sector

Uganda Revenue Authority (URA) has encouraged compliance, especially in the private sector, emphasizing the importance of integrity. This was during a meeting between the URA Customs Commissioner, Abel Kagumire and the team from Uganda Baati led by the Business Head, George Arodi.

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TerraPay, DTB sign partnership to streamline global money transfers

Cross-border payments network company, TerraPay and Diamond Trust Bank (DTB) have unveiled a partnership that seeks to expand international money transfers and strengthen financial inclusion in Uganda. The partnership was unveiled on Thursday at DTB head offices in Kampala.

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SMEs set to rebound with focus on technology, tourism

After nearly two years of grappling with the impact of the COVID-19 pandemic, Uganda's small and medium-sized enterprises (SMEs) are poised for a resurgence in 2024. The streets, once deserted and shops shuttered, are now showing signs of life as businesses strive to recover from the economic turmoil inflicted by the global health crisis.

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Last Week's News

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Bank of Uganda Unveils Strategy for Mobile Financial Transactions of Government Securities

The Bank of Uganda (BOU) has disclosed details of its ten-year National Financial Inclusion Strategy, spanning from 2017 to 2028, aimed at facilitating government securities transactions through mobile financial services.

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PostBank, Airtel enter partnership to scrap charges on bank to wallet transfers

PostBank Uganda has announced a partnership with Airtel Money,that will see charges on bank to wallet transfers scrapped. This will apply on transfers made from the PostApp and PostMobile to Airtel Money wallets. economy.

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K-Polygone reaffirms South Sudan cargo tracking deal

K-Polygone Multinational has clarified the air that it is the accredited provider of cargo tracking services to South Sudan. Edgar David Musoke Nsubuga (who heads their Ugandan agent Lincoln Logistics Ltd as General Manager) emphasised that K-Polygone Multinational has never had bad working relations with the government of South Sudan.

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Last Month

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Carrefour supermarket stakes Shs57m for shoppers as anniversary looms

To celebrate four years of brisk business in Uganda, Carrefour is launching a new promotion that will see customers scoop one million shillings in spending money. economy

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I&M Bank phases out old ATM cards, replaces them with Mastercards

I&M Bank Uganda has reaffirmed its aspiration to become Uganda’s leading financial partner for growth, announcing the phasing out of the old Orient Bank-branded Visa debit cards. The bank’s customers will now exclusively use Mastercards.

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GnuGrid CRB, Airtel Mobile Commerce Uganda Ltd Launch Uganda's First ever mobile credit scoring system

GnuGrid CRB, Uganda’s first and only indigenous credit reference bureau to be licensed by the Bank of Uganda and Airtel Mobile Commerce Uganda Limited, a provider of affordable and secure financial services in Uganda have today unveiled Uganda's first-ever mobile credit scoring system.

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