Inflation back to single digits and resurgence in growth continues
The region has succeeded in taming the inflation levels from double digit of 30.5 per cent, 19.8 per cent and 19.7 per cent for Uganda, Tanzania and Kenya in 2011 to 5.5 per cent, 5.7 per cent and 8.0 per cent. Continue reading →
Seven years since Uganda’s oil discovery and production has still not commenced. A two year deadlock, orchestrated by the Ugandan government’s resolve to have a refinery before production gets underway, as opposed to oil producing companies’ demand for a pipeline, partly explains the hold up. Continue reading →
East Africa’s infrastructure lags behind that of Southern and Western Africa across a range of indicators. This has not stopped the region from posting faster growth rates than the two regions. However, if East Africa’s infrastructure is improved to the level of the strongest performing country in Africa (Mauritius), regional growth performance would be boosted by six percentage points with power making the strongest contribution. (Africa Infrastructure Country Diagnostic, AICD) Continue reading →
Midway the 2012/13 financial year, the festive season has been a clear reflection of the kind of year 2012 has been for the Ugandan economy with a Christmas characterised by vendors, open shops and unusual activity on the outskirts of Kampala and in Mbarara. Continue reading →
East Africa is no doubt one of the fastest growing regions on the continent, with a GDP growth rate for the bloc averaging 6.3 per cent, compared to 4.9 per cent for the continent as of 2010. Even with the tough economic times, the economies still grew at 3.2 per cent, 4.4 per cent, 6.4 per cent and 8.6 per cent respectively for Uganda, Kenya, Tanzania and Rwanda, according to IMF.