- published: 04 Jan 2017
- views: 973
2016 was a difficult year to do business in Uganda -- that's according to local traders in the capital, Kampala. Several companies have shut up shop and those who've managed to stay open say they're seeing little profit. As the New Year sets in, traders are rethinking business strategies for 2017. Michael Baleke reports
Ugandan government has banned foreigners from running retailers in the country. The move follows complaints from local traders, who say they're being pushed out of business by foreigners posing as investors. Hillary Ayesiga has that report.
Plans by central banks in East Africa to promote the use of local currencies in regional trade have hit a snag. In Uganda, traders say ditching the highly favored US dollar will not be practical. The central banks had backed the proposal to cushion traders against losses incurred by forex changes. But as CCTV's Michael Baleke reports, their proposal hasn't gone down well.
The central bank has issued a directive stopping Crane Bank from issuing letters of credit, bank guarantees, bid bonds as well as place restrictions on new loans.The directive comes after the Bank of Uganda identified that there was a continued and significant erosion of capital. The apex bank took over the management of Crane Bank after reports that it was significantly undercapitalised and could become a risk to the overall banking system. These "special" arrangements with customers are reported to have contributed to the rise in Crane Bank's non-performing loans, which were valued at 142 billion Uganda shillings, just about 40 million dollars, by the end of December 2015. Bank of Uganda's decision to place restrictions on lending was reportedly meant to prevent the situation from escal...
Subscribe to BBC News www.youtube.com/bbcnews The UK is the world's second largest used clothing exporter - trading more than $600m worth of discarded fashion overseas each year, according to the latest UN figures. Top destinations are Poland, Ghana and Pakistan. What effect is this having? Subscribe to BBC News HERE http://bit.ly/1rbfUog Check out our website: http://www.bbc.com/news Facebook: http://www.facebook.com/bbcworldnews Twitter: http://www.twitter.com/bbcworld Instagram: http://instagram.com/bbcnews
A cross section of vendors, taxi drivers and traders in Kampala city have today marched to Uganda’s parliament in a solidarity with the pro- legislators that are pushing for the amendment of 26 that installs an age cap on presidential candidates. The group which started procession from downtown carried placards, banners with inscriptions urging president Museveni – who will be making 35 years at the helm of power by 2021 to contest again.
Bank of Uganda has signed a Memorandum of Understanding with the Uganda Forex Bureau and Money Remittance Association (UFBMRA). According to a statement issued by bank of Uganda the MoU formalizes the working relationship between the two parties to provide for closer engagement, capacity building, sound governance and compliance with laws and regulations. Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Like our Facebook page http://www.facebook.com/NTVUganda
Uganda Exports’ dismal performance continue to offer sleepless nights to Uganda Export Promotion Board, something that is has forced the board to craft ideas for a major breakdown. Elly Twineyo, the executive director of Uganda Exports promotion Board, says Uganda’s exports are performing below expectations and part of this is a result of Ugandans not appreciating the importance of exports. Twineyo believes that lack of information on the available markets especially for agriculture products and being stuck in subsistence farming is curtailing the exports sector.
Business in the foreign exchange market has dipped further by more than half, with sector sources suggesting daily transactions now at average of $4M (Shs14.4B) down from approximately $10M (Shs36B) 18 months ago. The forex bureaux are blaming a huge reduction in foreign direct inflows, slow down in regional trade, as well as dwindling demand for international import requirements as some of the reasons for reduction in business. Slower business activities apart, the shut down of some bureaux including Crane forex bureau, is not helping the conditions in the market either, where money traders are reporting nearly 65% reduction in profit margin across traded unit currencies combined. Uganda’s nearly 270 registered forex bureaux are now having to deal with the running effects of wobbling ...
Parliament’s trade and Investment committee has recommended the removal of Chinese retail traders from Kikubo trading centre in downtown Kampala. According to the committee most of the Chinese are involved in petty trade and not the investments they applied for when they came in to the country. The recommendations regulating the areas the Chinese traders can operate in are contained in a report to be presented to Parliament this week. Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Like our Facebook page http://www.facebook.com/NTVUganda
Ugandan traders who have previously done brisk business in South Sudan are counting their losses as instability continues across the border. Uganda's economy relies heavily on South Sudan as a key regional trading partner. CGTN's Michael Baleke talks to one Ugandan trader to find out how the unrest is hurting his bottom line. Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgY Follow us on: Facebook: https://www.facebook.com/cgtnafrica/ Twitter: https://twitter.com/cgtnafrica
Uganda being a landlocked country largely depends on Kenya to import and export goods. Offers analyzed news content on trending stories in Uganda, be it politics, business, and the day today life This is broadcast in various shows such as The daily News bulletin, the hourly news updates, the business show called The Handshake and Music News show. Since Uganda is known as the Pearl of Africa, New Vision TV has a show that broadcasts Uganda’s beauty called the Pearl of Africa. https://www.facebook.com/thenewvision/ http://www.newvision.co.ug/ https://twitter.com/newvisionwire
The Ugandan government has agreed to settle an outstanding debt owed to Ugandan traders who supplied goods and services to South Sudan. The traders were not paid their dues after an outbreak of war in the country. The decision follows a meeting earlier this year between Uganda's President, Yoweri Museveni and South Sudan's leader, Salva Kiir, aimed at establishing a strategy for the repatriation of proceeds from Ugandan companies. Michael Baleke tells us more.
NewVisionTV's The Handshake discusses the impact of Kenya Elections towards Ugandan traders. New Vision TV offers analyzed news content on trending stories in Uganda, be it politics, business, and the day today life This is broadcast in various shows such as The daily News bulletin, the hourly news updates, the business show called The Handshake and Music News show. Since Uganda is known as the Pearl of Africa, New Vision TV has a show that broadcasts Uganda’s beauty called the Pearl of Africa. https://www.facebook.com/thenewvision/ http://www.newvision.co.ug/ https://twitter.com/newvisionwire
Kampala minister Betty Kamya has assured city traders that government will soon come up with stringent laws to restrain landlords from increasing rent anyhow. Kamya was speaking to traders during a meeting with city traders who have always demonstrated every time their landlords raise rent fees.
Uganda's importers and exporters who use the Kenya Mombasa port are happy that Kenyan election ended in harmony with no events of violence. Through their umbrella Kampala city traders association, traders now want their members to fast track their goods and clear them from the Mombasa port as soon as possible and stock Ugandan markets. As kennes Bwire reports, traders want the incoming Kenyan government to settle their compensation of 400 million dollars as agreed after losing their commodities in 2007 post election violence.
Traders in eggs business have run out of stock following a ban of poultry products from Uganda. This has led to the rise in egg prices due to supply shortfalls. According to traders and farmers, poultry products like eggs are usually imported from Uganda due to the low market price which is associated to the cheap feeds available across the boarder.
Ugandan traders owed by the government of South Sudan cry foul after waiting for payments from the conflict-stricken country in vain. The traders maintain that nothing concrete is yet to come out of the promises made to them over 50 million dollars worth of goods and services they supplied to Africa's newest state. For more news visit http://www.ntvuganda.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Like our FaceBook page http://www.facebook.com/NTVUganda
http://ntvuganda.co.ug/ The Inspector general of police has assured Ugandans trading within South Sudan that with a force put in place to protect them, they need not to worry about their safety. Lt Gen. Kale Kayihura also says that not all that are killed are Ugandans, adding that those responsible could be bandits or rogue SPLA elements. Following the death of two Ugandan truck drivers late last month in South Sudan, one other national is said to have been injured along the Nimule road, raising more concerns of the safety of foreigners there.
Traders operating at the Sophia market, located on the no-man’s land on the Uganda-Kenya border in Busia County are up in arms accusing Ugandan authorities of harassment. The businessmen marched to the county government headquarters to voice their grievances. Maryann Mwende has the details. Citizen TV is Kenya's leading television station commanding an audience reach of over 60% and in its over 12 years of existence as a pioneer brand for the Royal Media Services (RMS), it has set footprints across the country leaving no region uncovered. This is your ideal channel for the latest and breaking news, top stories, politics, business, sports, lifestyle and entertainment from Kenya and around the world. Follow us: http://citizentv.co.ke https://twitter.com/citizentvkenya https://www.fa...
Grain dealers in Mbale district are calling upon government to come up with strict regulations on food exportation to avoid food shortages in the country especially during poor harvest. Local grain dealers are now blaming the food shortage on foreign traders who take the advantage of their strong currencies against the Uganda shilling. This has led to a shortage in the supply of corn flour and drastic increase in the price. This has left