The banking Industry returned a combined net profit of Shillings 1 trillion and 1 billion, but seven banks fell deeper into losses in 2021. The higher commodity prices abetted by the Russia-Ukraine conflict have also started directly feeding through to consumer prices, weakening consumer optimism and Household demand,” says the BOU.
“Today about 33,000 Indians in a population of (over) 40 million natives claim to be responsible for 62 percent of the country’s economic output, they are inching close to 75 percent of the colonial period,” he points out pointing to the fact that Uganda’s economy is already back in hands of the Indians as the case was prior to 1972.
