Coffee prices have continued to rise in Ibanda district over the past three months. Robusta (clean) now goes for sh10,700 per kilogramme in Ibanda town, increasing from sh10,200 at the end of January. It costs sh10,500 in Bisheshe compared to sh10,000 two weeks ago.
This also shows a rise sh9,200 on January 15, and from sh8,700 at the beginning of December last year.
Prices for Arabica coffee beans have also inched up, trading at sh10,200 per kilogramme in Bisheshe and Ibanda town, indicating an increase from sh10,000 at the beginning of February.
Arabica was at sh8,000 per kilo at the start of December 2023.
However, traders project robusta coffee prices to drop over the next weeks as its harvest season comes to an end.
Meanwhile, the Arabica coffee prices are being supported by increased supply and quality beans coming to the market, says Patience Katunge Akampa, from Bisheshe Cooperative Society.
According to Tihwayo, the chairperson of Nyakatookye Coffee Growers Cooperative Society, the flowering for Arabica coffee wasn’t good in most parts in the district, a pointer to low output this harvest season.
The Arabica coffee season has just started in Ibanda district, while that of robusta is ending.
David Kiiza, a farmer in Katafaari, Kashangura in Kagongo Division, said the good prices have boosted the morale of farmers. He added that has encouraged them to look after the coffee as per recommended coffee husbandry practices to ensure quality.
Uganda’s coffee exports rose by over 3% in October, 2023, with the country raking UGX 298.2 billion in revenue during the period.
According to Uganda Coffee Development Authority (UCDA) monthly report for October, about 470,080 60-kilo bags, worth $78.96 million (about UGX 298.2 billion) were shipped out of the country last month. This comprised 410,113 bags of Robusta valued at $66.87 million (UGX 252.56 billion) and 59,967 bags of Arabica valued at $12.10 million (UGX 45.7 billion).
This indicates an increase of 3.4% in quantity exported and 18.3% in value compared to the same month last year, says the report.
The amount of Robusta coffee shipments was also up by 3.4%, higher than the same month of last Coffee Year (October 2022), while earnings grew by over 26%. Arabica export volumes rose by more than 2.8% during the period under review, with revenue expanding by 12.18%, indicates the UCDA report.
The sector watchdog attributed the exports performance improved on the back of a good crop harvest in south-western region and the prevailing good prices on the global scene that prompted exporters to release their stocks.
Uganda’s coffee exports for the 12 months, from November 2022 to October 2023, amounted to 6.16 million bags worth $952.24 million compared to 5.83 million bags worth $883.30 million in the previous period (November 2021 to October 2022, the report shows. This was over 5.5% increase in volumes while revenue grew 7.8%, it adds.
The country’s coffee was mainly bought by Italy, Germany, Spain, India, Algeria, Morocco, Kenya, South Africa, Sudan and Egypt.
However, Europe remains the main importer of Uganda’s coffee, taking over 68% of the total exports, according to UCDA
Uganda coffee exports increase for the coffee year ending September 30, a new report indicates.
According to the Uganda Coffee Development Authority (UCDA) monthly report for September, Uganda exported over 6.1 million bags for the 2022-2023 coffee year which ends in September every year, amounting to $940.36 million (about UGX 3.5 trillion) in revenue.
This compares to more than 5.8 million bags exported during the previous coffee year, 2021/222, which brought in $877.66 million (around UGX 3.28 trillion), the report shows. This shows an increase of 5% in quantity exported over the reporting period, while revenue going up by 7%.
The report also reveals that Uganda recorded the highest ever coffee exports in August, when it shipped out 743,517 60-kilogramme bags of coffee, bagging $121.64m (about UGX 456.75b) in forex revenue.
However, export coffee volumes and revenue decreased when compared with those of August, but higher when compared with a similar month last year.
Uganda exported 577,073 60-kilo bags, recording $94.39 million in forex revenues, indicating a growth of 12.8% and 30.4% in quantity and value, respectively, when compared to September, 2022 coffee exports, UCDA added.
The sector watchdog attributed the growth in export volumes and revenue to a good crop harvest in south-western region, saying the prevailing good prices on the global scene prompted exporters to release their stocks.
The coffee was at $2.73 per kilo, on average, unchanged on a monthly basis, but higher than $2.36 per kilo recorded in September last year.
Italy maintained its position as the biggest importer of Uganda’s coffee, taking 35.11%, Germany 22.48%, Sudan 9.16%, India 7.08% and Algeria 4.25% took of the beans, among others.
The prices for a number of food items have dropped significantly in Ibanda, with bananas experiencing the biggest decreases (of more than 50%). A big bunch of bananas costs UGX 13,000 presently, down from UGX 30,000; medium-sized ones go for UGX 10,000 and small size is at UGX 5,000, a reduction from UGX 18,000 and 10,000, respectively.
Speaking to our reporter, Kanifa Ainomugisha, a banana vendor at Saza Market, projects the prices to drop further over the coming weeks, adding that they will only recover in late August when the annual glut period for bananas is expected to end.
Prices for Irish and sweet potatoes have also inched lower because of the same reason, according Sofia Kansiime, a supplier of the root tubers. She quoted the wholesale price for sweet potatoes at UGX130,000 a sack, down from UGX 150,000 previously, while a basin costs UGX 30,000 each, indicating a reduction from UGX 35,000.
A dish of potatoes goes for UGX 6,000 compared to the previous UGX 8,000 and a bundle is at UGX 2,000. Retailers are selling the potatoes at between UGX 35,000 and 40,000 per basin.
Irish potatoes go for UGX 35,000 per basin compared to UGX 40,000 over the reporting period, while a dish declined from UGX15,000 to UGX 10,000 presently.
The traders ferry in the Irish potatoes from Buhweju, Kabarole and Kabale. Fresh beans range from UGX 20,000 to 22,000 per basin, a decline from UGX 25,000.
Fresh peas are at UGX 30,000 a basin, with a small basin is at UGX 10,000. Shelled fresh peas and beans go for UGX 20,000 per (Nice) cup.
Dairy farmers in Kazo district have called upon the government to set a minimum price for milk in order to benefit from the milk business.
While speaking to our reporter in an exclusive interview on issues concerning the milk business, a section of dairy managers and milk traders in Kazo town council -Kazo district said they are grappling with fluctuating milk prices.
Ahereza Susan, the manager of Kazo Ruhanga Nakora diary said that the milk price cut happens every period whereby at the moment, a liter is at UGX 500 down from UGX 2000 Ayebare attributed the fluctuations to excessive rainfall that has been received recently.
Nuwahereza Amon, the manager Mwenya group of farmers, advised the farmers to keep a good quality of the milk quality although the price is low, adding that the prices will rise again soon.
Byaruhanga Fred, one of the milk traders, asked the government to set a standard price whether it is rain or sunshine to prevent the milk cut-price during the rainy season.
The Bishop of West Ankole Diocese, Bishop Johnson Twinomujuni has challenged Sacco management to employ technical and competent staff for the safety of the member’s savings.
Speaking at the 17th annual general meeting held at Tuzza hotel in Bushenyi town, Bishop Twinomujuni who doubles as patron for Jubilee Sacco West Ankole noted that several people are willing to join Saccos, but don’t want to risk because they think their funds may not be safe.
Some of the members who performed well during the course of the year receiving gifts prepared by the Sacco.
The Bishop hailed board members of Jubilee Sacco and their staff for good work which has led them to improve on performance regardless of post-COVID-19 challenges.
Jonas Tumwine, the chairman board Jubilee Sacco revealed that in the year 2022, the Sacco has made over UGX 480million in profits and increased membership from 2,015 in 2021 to 2,867 members in 2022 making it a total of 11,003 general members.
Tumwine urged the management to strengthen mobilization to increase membership which will in turn increase share capital in the Sacco and meet the targets.
Kenneth Matsiko, the general manager Jubilee Sacco attributed the achievements to cooperation among members, staff and the board saying this year, the Sacco has progressively improved compared to last year.
Officials in Ibanda Municipality have advised Emyooga savings and credit cooperatives (SACCOS) to devise strong mechanisms to guard against rising non-performing loans if they are to stay afloat and serve their intended purpose.
This comes after a report on a recent operation by the Ibanda Municipality joint loan recovery taskforce showed that most of the SACCOS were being weighed down by bad loans.
According to the interim report, at least UGX 16.4m was recovered by 10 SACCOS in Ibanda Municipality out of the UGX 97.1m outstanding loan arrears that was targeted.
Commenting on the report, Grace Ngonzi, the chairperson of the Ibanda Municipality joint loan recovery taskforce, said none of the 17 SACCOS in the municipality was able to collect even half of the outstanding loan arrears during the operation.
Ngonzi said many of the defaulters went into hiding when they learnt about the operation, while others bargained for rescheduling of the loans repayment.
The February 9-11 loan recovery exercise was conducted by a joint taskforce of municipality and district SACCOS leaders, with support from the office of the resident district commissioner and the Police.
Tea growing regions in Uganda have been urged to engage stakeholders and Members of Parliament to accelerate the tea policy in order to improve on its quality at the international market.
While closing a one-day workshop organized by Solidaridad and Trust Africa; Advancing Equity and Inclusion for Women in Agriculture at Western Meredian hotel in Bushenyi town, Robert Mbabazi, the LC V chairman Rukiga district noted that tea policy is needed if they are to improve on quality assurance and equity in tea management.
During this Regional consultation on national tea policy, Mbabazi also appealed to women to emulate teamwork to ensure continuity of management of tea shambas at family levels than advocating for affirmative action.
Sheeba Rushoke Nyakaishiki, a tea farmer in Fort portal said that failure to have a tea policy like any other cash crop has created gaps between middlemen and farmers and this has led to attracting low prices at the international market compared to other countries in the region.
Julian Nyabuhara, a tea farmer in Kyamuhunga, also the newly appointed chairperson of the Women in Tea Uganda chapter noted women are paid less and left behind in tea leadership and they advocating for tea policy to ensure there is equity.
Julian Nyabuhara, the newly appointed chairperson of the Women in Tea Uganda chapter addressing tea farmers in Bushenyi on Monday.
Uganda’s tea growing industry is dominated by men who compose 82.4% of the tea growers while only 17.6% of the tea growers are women.
In an effort to support the development of the Ugandan economy, MTN Group’s leadership has met with Ugandan President His Excellency Yoweri Kaguta Museveni on the sidelines of his two-day state visit to South Africa for discussions.
Speaking during the summit, Ralph Mupita, the MTN Group President and CEO proposed facilitating a two-day investment summit in Kampala in May 2023 in collaboration with the relevant government ministries and departments as well as the Forum of South African Businesses in Uganda to emphasize MTN’s commitment to Uganda.
The two-day event which will be a follow-up to the Uganda-South Africa trade, investment and tourism summit held in South Africa this week is designed to attract South African agro-processors and other potential investors to the east African country.
Mupita noted that the summit would facilitate the participation of those investors identified by the Uganda Investment Authority.
“We hope that by facilitating this investment summit we can support the further development of the Ugandan economy and her people,” said Mupita.
“This year, MTN celebrates 25 years in Uganda. We are driven to create shared value across our markets and offer leading digital solutions for Africa’s progress,” he added.
President Museveni said he told MTN that they shouldn’t just make money from villagers who are making calls, but also bring investors in value addition, so that they invest in agriculture, minerals, etc.
The MTN delegation included; MTN Uganda Chairman Charles Mbire; MTN Group President and CEO Ralph Mupita; MTN Uganda CEO Sylvia Mulinge; MTN Southern and East Africa Vice President Yolanda Cuba; and MTN Group Chief Sustainability and Corporate Affairs Officer Nompilo Morafo among others.
Established in 1998, MTN Uganda is one of 19 MTN operating companies. In December 2021, it gave almost 21 000 Ugandans the opportunity to become owners of MTN Uganda when it listed its shares on the Uganda Stock Exchange after the largest initial public offering in Uganda’s history.
Airtel Mobile Commerce Uganda Limited (AMCUL) in collaboration with other Fin-Tech Stakeholders have held a dialogue on how to achieve a progressive regulatory environment that supports affordable digital financial inclusion for Uganda.
The fin tech sector is regulated by the Bank of Uganda under the National Payments Systems Act (2020) that was enacted in 2020 and whose regulations came into force in June 2021.
According to the Bank of Uganda (BOU) records, as of September 30, 2022, twenty-three (23) entities had been licensed under the NPS Act, 2020 with a recorded volume of UGX3trillion in industry transactions.
AMCUL, as a Payment System Operator and Payment Services Provider, was the first licensee to be granted licenses under the new regulations.
Speaking at the stakeholders’ dialogue hosted by AMCUL at Kampala Serena Hotel, AMCUL Managing Director, Japhet Aritho said, “We are delighted to have hosted this engagement as part of our confidence building in this important Fin-Tech sector. The discussions were thought provoking and setting the stage for Innovations, inclusion, and affordability that AMCUL is known for.”
“A dialogue like this helps us to identify the gaps that need to be addressed in terms of regulation, improved services, new industry developments, among others. We will explore partnerships that create opportunities for shared value from our different expertise that will grow Digital and financial inclusion in this country. I believe the National Payments System is on the right trajectory of growth and depth”
Mobile financial services have grown tremendously. Currently, the country has about 40.7 million digital wallets shared between mobile network operators and non-mobile network operators, transacting an average of UGX 5.99 trillion in person-to-person.
According to June 2022, BOU data, the volume of transactions grew from 3.9 billion to 4.8 billion during the same period. This number is projected to grow due to the projected positive economic outlook.
Hon. Henry Musasizi the state minister for Finance- General Duties speaking at the Airtel Mobile Commerce Uganda Limited, Fin-Tech Stakeholders dialogue on achieving a progressive regulatory environment held at Kampala Serena Hotel on Wednesday.
Hon Henry Musasizi the state minister for Finance- General Duties acknowledged the growth in the Fin tech sector and applauded the players for the good work done.
“Airtel Money, with other players, were very instrumental in maintaining the economy during the difficult covid-19 lockdown. I thank you for supporting government is keeping Uganda working during that difficult time. The growth in mobile money services has been phenomenal since it was introduced 10 years ago. It has deepened financial inclusion, lowered the transaction costs, improved rural access to financial services, and integrating greater customer convenience,” said Musasizi.
“I applaud our regulators like the Bank of Uganda, Financial Intelligence Authority, Uganda Revenue Authority among others for supporting us in the implementation of the technical and regulatory framework which guides our day-to-day operations. We have made commitments to the development of a fair, predictable and progressive regulatory environment. We will continue to engage to realize these commitments,” concluded Aritho.
