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The United States of America has moved to reset relations with Uganda, with Secretary of State Marco Rubio speaking by phone with President Yoweri Museveni about “opportunities to deepen U.S.–Uganda cooperation on migration, reciprocal trade, and commercial ties.” In a readout attributable to U.S Principal Deputy Spokesperson Tommy Pigott, the U.S Secretary who spoke to President Museveni yesterday also thanked Uganda for serving as a pillar of regional stability through its peacekeeping roles in East Africa. The outreach comes as both sides test whether months of friction over rights and aid can give way to a more pragmatic and economics-first…
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Standard Chartered is set to invest in boosting regional trade, particularly between Uganda and the Middle East. The Middle East has emerged as one of the major export destinations for…
Ugandans are set to earn big from gold sales as the Bank of Uganda (BOU) initiates a Domestic Gold Purchase Programme which is aimed at building the country’s foreign reserves and minimizing associated risks on reserves investments in the international financial markets. The gold purchase programme will involve purchasing gold directly from the artisanal and small scale miners, which also in part, is to support the miners’ livelihoods with a positive spill-over effect on other sectors of the economy in line with the Bank’s mission to support socio-economic transformation. BOU in consultation with relevant key stakeholders, released the details of…
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On a country specific level, the United Arab Emirates remained Uganda’s largest destination of exports during the month accounting for 21.9% of the total value of merchandise exported.
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Sales revenue for Uganda’s value-added banana products marketed under the brand name Tooke have hit the UGX1 billion mark in sales locally, the Banana Industrial Research and Development Center (BIRDIC) the agency spearheading the enterprise, has announced. Buoyed by this milestone, BIRDIC is now looking to push the production capacity of Tooke flour from 1.4MT daily to 10 MT in order to meet the demand of growing local, regional and international markets in the next five years. The Director General of the Banana Industrial Research and Development Center Rev. Prof Florence Isabiriye Muranga confirmed that the Tooke…
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