Fred Ojambo

Ugandan business journalist working for Bloomberg News. Previously worked for Dow Jones Newswires. Opinions are my own and retweets aren't endorsed

[US Africa Media Hub @AfricaMediaHub]

The U.S. is proud to be the largest financial contributor to the Ebola response effort. @StateDept’s assistance commitment to combat the outbreak has exceeded $162 million and is growing, enabling implementing organizations to expand the ongoing response in Africa.

https://t.co/QG3YvnVnb2

[Bloomberg @business]

Uganda said the African Development Bank has tentatively allocated about $650 million to partly fund the construction of a railway linking the capital, Kampala, to Malaba at the Kenyan border https://t.co/Z84jev5pp1

[Bloomberg @business]

Kenya will proceed with a plan to establish an Ebola isolation and treatment complex at a military facility, even after a court temporarily blocked the move https://t.co/xBefxFpL1W

[Bloomberg @business]

Uganda closed its border with the Democratic Republic of Congo as authorities step up efforts to prevent the spread of Ebola into the country https://t.co/CL8dQDCAIP

[Bloomberg @business]

Uganda effectively closes its border with neighboring Democratic Republic of Congo in an attempt to check the spread of an outbreak of the deadly Ebola virus https://t.co/uMEh2OMoWe

[Bloomberg @business]

Uganda urged the US and other partners to reverse deep cuts to global health funding, warning the pullback may hamper efforts to contain imported Ebola cases linked to an outbreak in neighboring Democratic Republic of Congo https://t.co/t76w5KDcgA

[Bloomberg @business]

A widening Ebola outbreak in the Democratic Republic of Congo and Uganda is triggering an urgent search for vaccines and medicines https://t.co/D1BGNOeLR1

[U.S. Senior Advisor for Arab and African Affairs @US_SrAdvisorAF]

The Department of State is coordinating a comprehensive response to the Ebola outbreak in the Democratic Republic of the Congo (DRC) and Uganda.  Within 48 hours, the Department activated a response plan and mobilized an initial $13 million in foreign assistance for immediate response efforts, and we are leveraging the Department’s historic investment in OCHA pooled funds for the DRC and Uganda to ensure the rapid deployment of additional humanitarian assistance on the ground and close coordination with the UN system. American leadership remains indispensable in confronting global health threats.

[Bloomberg @business]

Billionaire Aliko Dangote’s plan to replicate his Nigerian mega-refinery in East Africa is gaining momentum — he just doesn’t know where to build it yet https://t.co/eirRa68XdM

[Bloomberg @business]

Uganda postponed an annual religious holiday usually held on June 3 following an outbreak of the Ebola virus in neighboring Democratic Republic of Congo https://t.co/x5bjhfjWdy

[UNOC @UNOC_UG]

Uganda and the Democratic Republic of Congo (DRC) have strengthened their commitment to deeper cooperation in the petroleum sector following a high level technical engagement at Petroleum House in Entebbe.

The engagement, held after the Uganda–DRC Joint Permanent Commission meetings, brought together officials from @MEMD_Uganda, @PAU_Uganda, and UNOC to discuss collaboration across the petroleum value chain, regional energy security, and fuel supply reliability.

The DRC delegation also toured the Petroleum Data Centre and Core Centre to gain insights into Uganda’s petroleum data management and resource monitoring systems.

[Bloomberg @business]

Self-exiled Ugandan opposition leader Robert Kyagulanyi is urging US senators to press for sanctions against his country’s leader https://t.co/lLsTjqT7ds

[African Development Bank Group @AfDB_Group]

The @AfDB_Group has approved €7.33M in additional financing to support the completion of compensation payments to people impacted by the Uganda Rural Electricity Access Project (UREAP) – Phase I.

Phase II will connect more than 250,000 households, 3,000 businesses and public institutions with electricity: https://t.co/k5iTiMc6s9

[Fred Ojambo @fojambo]

Uganda gears up for Islamic financing

https://t.co/jRNyv82jbU

[Ministry of Finance @mofpedU]

DID YOU KNOW?
1️⃣ Sukuk according to the Accounting,Auditing Organisation of Islamic Financial Institutions is defined as "Investment securities of equal value representing undivided beneficial ownership of tangible assets,usufructs of tangible assets or services of special economic activities"

2️⃣ Sukuk is officially recognised by IMF,World Bank,IFC,UNDP and other multinationals as alternative project financing instruments.

3️⃣Sikuk is not a Bond. Whereas Sukuk are asset-linked instruments,Bonds are not linked with any asset. With Sukuk, there is presence of Investor-Issuer relationship while with Bonds,it's a lender-borrower relationship.

4️⃣ The Sukuk will increase financial inclusion to Ugandans who have no opportunity to invest in Treasury Bonds and Bills.

5️⃣Sukuk comes as lease-based,equity-based,
agency-based and sale-based. They are therefore not debt instruments but rather Off-balance sheet financing. Therefore Sukuk financing will not be part of our debt numbers📌

We shall have a deeper engagement on these and more in the coming days.
Stay tuned.
#AlternativeFinancing
#FinancingSGR
#DoingMore

[Ministry of Finance @mofpedU]

GOVERNMENT OF UGANDA TO ISSUE INAUGURAL SOVEREIGN SUKUK:

The Government of Uganda is in advanced stages of issuing the inaugural Sovereign Sukuk to finance 15% of the total cost of Euro 2.7 billion required for the construction of the Standard Gauge Railway (SGR).

Cabinet approved the SGR financing structure in January 2025 reflecting the proportion and amounts to be mobilized.

60% of the Euro 2.7 billion will come from Export Credit Agencies (ECAs),15% from Sukuk and the balance of 25% will come from Development Finance Institutions (DFIs).

The Deputy Secretary to the Treasury (DST), Patrick Ocailap is currently leading Uganda's delegation on a Sukuk Roadshow in the East African Community, specifically in Kenya, Tanzania and Zanzibar, to interest Investors to participate in the inaugural sovereign Sukuk Issuance on a date that will officially be announced.

The other members of the delegation include; the Yusra Sukuk-lead arranger, Stanbic Bank Group,the Book Runners, Bank of Uganda, Standard Gauge Railway team, NS Kigozi Advocate- Sukuk Legal Advisor, Salaam Bank Uganda Limited the Receiving Bank and other
staff in the Debt Policy and Issuance Department of MoFPED.

The DST,Ocailap said the aim of the roadshow is market sounding, pricing discovery and building investor relations to ensure success of the planned Sovereign Sukuk Issuance.

@mofpedU will in the coming days share detailed information with Ugandans about this kind of innovative financing and the significance of the upcoming Sovereign Sukuk Issuance.
@newvisionwire @DailyMonitor @ubctvuganda @nbstv @ntvuganda @UgandaMediaCent @GCICUganda

[Bloomberg @business]

Uganda's President retains his position at the helm of the East African nation as it gears up to become an oil producer https://t.co/AVEaCYBZvs

[Centenary Bank @CentenaryBank]

We are pleased to announce the appointment of Mr. Godfrey Byekwaso as Managing Director of Centenary Bank Uganda, effective July 2026. He succeeds Mr. Fabian Kasi, who has led the bank through 16 years of phenomenal growth.

We sincerely thank Mr. Kasi for his remarkable service and invaluable contribution to Our Bank.

[Agora Discourse @AgoraCFR]

Do you Ugandans remember the service award to Mpuuga and the 3 parliamentary commissioners we revealed during our first Parliament exhibition?
The same commissioner received another "service award" totaling to Ugx 1,800,000,000 last year (2025).
The PAs for commissioners; Solomon Ssilwanyi, Prossy Akampurira Mbabazi and Mathias Mpuuga picked the money on behalf of their bosses. commissioner, Afoyochan picked it herself.
#UgandaParliamentExhibitionII

[Bloomberg @business]

Ugandan lawmakers pass controversial legislation with harsh penalties for entities and individuals receiving foreign funding https://t.co/Ki66tO4Fij

[Bloomberg @business]

Standard Chartered is selling its East African head office as the lender shrinks its physical presence on the continent. https://t.co/4L0OGwRjEZ