Kampala, Uganda | THE INDEPENDENT | Small-scale traders operating around Ugandan borders have suffered one of the biggest tumbles with coronavirus bringing their operations to near zero, official figures show. The scale of the impact is shown in the figures compiled by the Bank of Uganda in March, April and …
Read More »Uganda’s trade in East African region has increased to 21 percent
Kampala, Uganda | THE INDEPENDENT | A report on East Africa interstate trade has revealed that Uganda’s trade in the region has increased to 21 percent up from 14.6 percent in the last two years. The increase in the last two years is 6.4 percent. Statistics shared by East Africa Community- …
Read More »Coronavirus impact on Uganda’s economy started in February – Report
Kampala, Uganda | THE INDEPENDENT | Uganda’s economy started feeling the hit from the coronavirus (COVID-19) as early as February before the lockdown, a report has revealed. According to the Ministry of Finance, March 2020 performance of the economy report states by start of February, external demand for the country’s …
Read More »China export drop beats forecasts in October but more pain tipped
Beijing, China | AFP | China’s exports suffered their third month of decline in October, and while the drop was less than expected there were warnings Friday of more pain to come as the US trade war rumbles on. While tensions between the world’s top two economies are beginning to ease, …
Read More »Afreximbank holds mid-term review of strategic plan in Kampala
Kampala, Uganda | THE INDEPENDENT | The African Export-Import Bank (Afreximbank) today concludes a three-day retreat in Kampala, Uganda for the mid-term review of its Fifth Strategic Plan dubbed IMPACT 2021: Africa Transformed. Afreximbank operates on five-year strategic plans. The current strategic plan, which is the Bank’s fifth, covers the …
Read More »Gold top as Uganda earns $299 million from January exports
Kampala, Uganda | THE INDEPENDENT | Bank of Uganda statistics indicate that the country exported goods and services worth $299 million in January. This is an increase of $11 million compared to the value of goods and services exported in December 2018 valued at $288 million. The monthly statistics released …
Read More »Uganda for the first time exports more to Kenya, than it imports
Kampala, Uganda | THE INDEPENDENT | For the first time, Uganda registered USD 122 million trade surplus with Kenya, with exports worth USD 628 million to and imports worth USD 505 million. Uganda had in the previous year exported goods valued at USD 475 million and imported goods valued at USD …
Read More »Black South African winemaker shakes up industry
Stellenbosch, South Africa | AFP | With a history dating back over three centuries, South Africa’s world-renowned wine industry has long been the domain of generations of just a few elite white families. But the emergence of a crop of new black players such as winemaker and owner of Aslina …
Read More »Ethiopia devalues currency in competitiveness bid
Addis Ababa, Ethiopia | AFP | Ethiopia will devalue its currency by 15 percent in a bid to boost demand for its major exports, a state-run media outlet reported Tuesday. Africa’s second most-populous country is also one of its best economic performers, with the International Monetary Fund (IMF) estimating in …
Read More »Nigeria begins yam exports to Europe, US
Lagos, Nigeria | AFP | Nigeria on Thursday began to export yams to Europe and the United States, as part of moves to diversify its oil-dependent economy and earn much-needed foreign exchange. Agriculture minister Audu Ogbeh flagged off the first consignment of the fibrous tuber from the port in the …
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