BOU  RAISES BENCHMARK RATE TO 10%

Uganda’s central bank has announced that its policy rate will be raised to 10 percent, up from 9.5 percent, due to the depreciation of the country’s local currency and the expected rise in inflation. Bank of Uganda Deputy Governor Michael Atingi-Ego, while releasing a monetary policy statement, said the depreciation, which started in November 2023…

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UGANDA, EU AGREE TO INCREASE TRADE

The European Union and Uganda have agreed on the need to increase trade and investments between them because the current environment is favorable. While the EU is Uganda’s largest single source of foreign direct investment and tourists, trade between the two is worth about 1.5 billion Euros, as per the 2022 statistics. On a positive…

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