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Inflation declines to 6.2% in May

Kampala, Uganda | JULIUS BUSINGE | Uganda’s annual headline inflation decreased from 8.0% for the year ended April 2023 to 6.2% for the year ended May according to data released by Uganda Bureau of Statistics Executive Director Chris Mukiza on May 31. The slowdown in inflation is largely attributed to the …

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Jumia Uganda celebrates 11 years

Kampala, Uganda | THE INDEPENDENT | Jumia, the e-commerce platform in Uganda, kicked off its 11 years celebrations in Uganda with a campaign launch dubbed ‘Jumia Loves You’. As part of the festivities, the company is offering a discount promo of up to 60% across all product categories from June 5 …

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Pearl Dairy launches new product

Kampala, Uganda | THE INDEPENDENT | Pearl Dairy, a processor of milk in Uganda, has launched a new product line of fortified instant milk powder specially formulated for children between the ages of 3 and 5, company executives said on May 31. The product, called Lato Grow, is a premium quality …

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PMI: Rising customer demand support growth of new orders

Kampala, Uganda | IN THE INDEPENDENT |  The headline Stanbic Purchasing Managers Index (PMI) reached its highest point this year, posting 57.4 during May, up from 55.4 in April as success in securing new customers had a positive impact on the Ugandan private sector. Meanwhile, this further expansion in new orders …

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Standard Bank Group arranges $202 million syndicated funding for fintech giants M-KOPA

Standard Bank Group has arranged sustainability-linked, multi-currency facilities to support M-KOPA’s growth in Kenya and Uganda  Johannesburg, South Africa | THE INDEPENDENT |  Regarded as a pioneering and leading fintech platform, M-KOPA’s solutions provide underbanked customers with instant access to everyday products and services via its flexible credit model. M-KOPA’s customers …

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Investors to construct Iron Ore plant in Rubanda

Rubanda, Uganda | THE INDEPENDENT  | Investors have started plans to construct a multi-billion iron ore smelting plant in Rubanda District. The factory which was a 2016 presidential pledge has remained unfulfilled up to date. In 2019, the Devki Group of Companies from India led by its chairman Raval Guru …

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Stanbic commits to supporting Western Uganda farmers 

Mbarara, Uganda | THE INDEPENDENT | Stanbic Bank Uganda Limited is committed to continuing to support farmers with financial and non-financial solutions to be able to yield tangible results from their farming activities. This revelation was made by Patrick Twinamatsiko, the Manager in charge of the bank’s Sacco financing. Twinamatsiko …

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