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A leaked memo from the Office of the Prime Minister reveals that the government of Uganda plans to review and possibly approve borrowing proposals amounting to over USD 1.6 billion (UGX 5.8 trillion) during a cabinet-level meeting scheduled for Wednesday, March 26, 2025. The meeting, convened by the Prime Minister, is expected to consider 12 separate loan requests from various ministries and government agencies, targeting key sectors such as roads, energy, water, health, agriculture, and financial services. Loan proposals listed in the memo: €186.97 million and an additional €19.46 million from the African Development Bank for the Busega–Mpigi Expressway. €198.6…
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Stanbic Bank’s FlexiPay, a leading digital payment platform in Uganda, has partnered with Upesi Money Transfer, a regional payments company, to enable Ugandans to send and receive money from abroad with ease. FlexiPay’s strong presence in the local market and Upesi’s extensive regional and global network is set to be a game changer in enabling faster cross-border money transfers and offer more convenience without making unnecessary queues in banking halls. The collaboration signed on Friday 14th, just a day to the International Money Remittances Day, comes as a beacon of joy for individuals and businesses in Uganda who rely on…
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Pearl Capital Partners (PCP), a specialist agriculture investment firm, through their Yield Uganda Investment Fund, has announced its fifth investment in Uganda by making a commitment to invest UGX3.9bn to Raintree Farms. Raintree describes itself as an agri-ceutical enterprise specialising in the production and processing of organic moringa. Raintree Farms is based in Masindi, Uganda and was co-founded in 2012 by the CEO, Mr Teddy Ruge and the COO Ms. Pamela Nyakato. The company’s business operation is centred around the growing and processing of moringa, in order to produce premium, organically certified moringa leaf powder and moringa oil. The products…
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