Market Summary
Upon the settling of political dust in first and second quarter of 2011, Uganda has wakened to serious economic turbulence that has left businessman and legislator alike blaming each other as who could be the trouble causer.
I have witnessed prices steadily rise to record heights, Petrol by almost 30% to a hopping UGX3700 a liter, and a Kilo of G. nuts, popular among Uganda homes for the bad financial times, rising by 100% to UGX6000. Kikuubo traders closed shop for 2 grueling days in protest ,as we watched the Uganda shilling tumble to its all time lows against the US Dollar to 2700, all this happening in just weeks of swearing in of the new government.
Be that as it may, some Goldman Sachs of Uganda are raking in profit as the Uganda Economic turmoil sweeps the man on the street. Foreign companies have repatriated profits to shareholders in dollars, Thermal power generators have ripped billions and we have continued to see significant foreign investments being sunk into the country from the World Bank, Foreign Venture Capitalists and remittances; Uganda coffee exports are also projected to increase by 20 percent for the month of July.
Meanwhile commercial Banks have had to raise their interest rates following Bank of Uganda's tight monetary stance, and consequently, we begun seeing the Shilling stabilize against the Greenback. At the Bourse, we saw less demand last week with only four companies trading.
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Top BusinessTravel Stories
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On the Equity Market
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Featured Real Estate
In this edition of The BusinessTravel News I will share with you the Golden Yellow painted real estate property that has caught my attention this month so far.
The home is a beautiful 5 bed roomed house located on bunga-hill, a high end Kampala suburb, and is seated on approximately 80 decimals of land. The house has electricity, piped water, well a furnished kitchen, tiled floor, guest & servant quarters, a sizable compound and a kennel for your dog .
You can own this luxurious house at only 850m Uganda shillings that is slightly under USD340,000 at the current volatile exchange rate. This price is 50m less the original 900m.
As the saying goes "pictures speak louder than words", enjoy the pictures that I have snapped specially for you!
If you wish to Buy or Visit this house, find out more information by calling +2567782196417, +256702294363
Or send us an Email.
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