Henry Musasizi

Kenya sees risks to fiscal consolidation, oil output to power Uganda's growth

The World Bank praised Uganda's macroeconomic stability and fiscal discipline, supporting the nation's request for increased financing to accelerate development projects and strengthen its economy amid regional challenges.

Uganda intensified exploration for rare earth elements, uranium, lithium and nickel at Busuku Complex, aiming to capture growing global demand worth over USD 320 billion annually by developing local processing industries rather than exporting raw minerals.

Uganda seeks expanded World Bank financing to deepen economic cooperation and support development projects.

Uganda is issuing its inaugural Islamic Sukuk bond to finance fifteen percent of a 409 billion shilling Standard Gauge Railway project, enhancing regional East African connectivity and trade integration across Kenya, Tanzania, Rwanda, and the Democratic Republic of Congo.