Uganda has always been known as the Pearl of Africa, and in recent years, it has shown incredible growth potential in the business sector. From established multinationals expanding their footprints to startups taking bold steps, Uganda’s business environment is becoming more vibrant by the day. In this article, we’ll take a look at five top Uganda business news stories that you need to know to keep up with the latest trends.
1. MTN Uganda partners with Interpay to launch mobile money payment platform
MTN Uganda, one of the leading telecommunications companies in the country, announced a partnership with Interpay Africa to launch a mobile money payment platform. The service will enable customers to make mobile money transactions across different networks. This move is set to revolutionize the mobile money industry in Uganda by making it more convenient for people to make payments and transfers across different networks, saving time and money.
2. Stanbic Bank launches a mobile banking application
Stanbic Bank, a subsidiary of Standard Bank Group, has launched a mobile banking app that allows customers to access banking services on their mobile devices. The app is designed to give customers a complete banking experience, from opening accounts, transferring money, paying bills, and applying for loans. This move is in line with the bank’s strategy to leverage on technology to enhance customer experience and increase their market share.
3. Uganda’s tourism sector shows incredible growth prospects
In recent years, Uganda’s tourism sector has shown incredible growth potential, with the country attracting more visitors than ever before. According to figures from the Uganda Tourism Board, tourist arrivals in the country increased by 7.4 percent in 2019, compared to 2018. This growth is attributed to several factors, including increased marketing efforts, improved infrastructure, and political stability.
4. Uganda National Airlines launches operations
After a 17-year hiatus, Uganda National Airlines returned to the skies in August 2019. The airline, which is wholly owned by the government, launched its first commercial flight from Entebbe to Jomo Kenyatta International Airport in Nairobi. The move is aimed at boosting Uganda’s tourism sector and increasing connectivity across the region.
5. Agribusiness takes center stage
Uganda’s agricultural sector has always been an essential contributor to the country’s economy, and in recent years, the sector has shown tremendous potential to drive growth even further. From coffee and tea production to horticulture, the country is embracing agribusiness as a way to create sustainable livelihoods for its citizens and boost its export earnings.
In conclusion, Uganda’s business environment is becoming more vibrant by the day, with exciting developments happening across various sectors. From mobile money payment platforms and mobile banking apps to the growth potential in tourism and agribusiness, these five top Uganda business news stories are a testament to the country’s potential to become a leading economy in East Africa.
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