Global Credit Rating Co ltd (GCR) has assigned Uganda Development Bank Limited (‘UDB’) national scale issuer private ratings of AA+(UG)/A1+(UG) in the long and short term respectively, a notch below the highest possible rating with the outlook accorded as Stable. At the same time, GCR has also assigned UDB an international scale long term issuer private rating of B with a Stable outlook balancing for the operating environment to remain vulnerable to domestic and geopolitical instability.
The Arab Bank for Economic Development in Africa (BADEA) has today approved a USD20 Million funding line to Uganda Development Bank Ltd (UDB), the country’s national Development Finance Institution, aimed at supporting the private sector in Uganda.
Uganda will host the 7th edition of the Africa SME Champions Forum at Speke Resort Munyonyo, in Kampala, Uganda. The event, co-hosted by the Arab Bank for Development in Africa (BADEA) and empowered by AfricSearch, will bring together 300 of Africa’s top SMEs, institutional funding organisations, venture capitalists, angel investors and ecosystem builders.
Uganda Development Bank Ltd seeks to recruit 4 Brilliant young Graduates from reputable Universities/Colleges with the following requirements;
Uganda Development Bank, the country’s National Development Finance Institution, has today released its 2021 Direct Impact Report highlighting the fundamental role that the Bank continues to play toward Uganda’s sustainable socio-economic transformation and growth. This Direct Impact Report reflects UDB’s work and coverage through job creation, output value, forex, and tax generated by enterprises supported by the Bank. “In the intervening period, the Bank’s investment created and maintained a total of 41,338 jobs, and a total output value of UGX 2.445 trillion was realized. This output value contributed UGX84 billion in form of tax revenue to the government, and forex earnings of UGX405 billion,” the report reads in part.
Development Bank Ltd (UDBL), the country’s national Development Finance Institution, in partnership with the European Union, has today announced a special call for eligible businesses in the tourism sector to apply for and receive up to Shs1 billion in grants and soft loan with flexible terms aligned to the current needs of the sector.
The Uganda Development Bank Ltd (UDBL), the country’s national Development Finance Institution, approved projects worth Shs926 Billion of which a total of Shs589 Billion has so been disbursed into the Ugandan economy to support businesses during the Covid-19 pandemic period (August 2020, to-date). This disbursement represents the largest investment in the post-COVID recovery effort in the country where the government through UDB is prioritizing growth through localized value addition, production and import replacement in alignment to the National Development Plan III. The funds were deployed to support the resilience and fast recovery of the economy during and post the pandemic to through import replacement and export.
Uganda’s agriculture sector, both agro-industry and primary agriculture as well as manufacturing have emerged as the leaders in performance of the products offered by the Uganda Development Bank (UDB) according to a statement issued today. The Bank released a mid-year update covering the period July-2020-July 2021. In total UDB approved loans worth UGX 649Billion in the reporting period. A total of UGX 362 Billion was disbursed according to the Bank.
The second wave of the COVID pandemic has led to record infections and an increasing number of deaths. In response the government has instituted new restrictions on movement and gatherings and urged Ugandans to follow the recommended procedures to break the chain of infections.
On Thursday 18th March, the New Vision newspaper published a story, accompanied by a list of clients reported to have benefited from a Government COVID-19 bailout package.