Uganda businesses kept making money for the fifth month straight despite a small drop on the business meter. The Stanbic Bank score fell from 56.4 to 55.6 during June but stayed above the magic number of 50. Companies hired more workers and bought more supplies as sales kept rolling. Christopher Legilisho from Stanbic Bank said the private sector looks rock solid. He expects Uganda's economy will grow fast during 2025.
More customers placed orders with local companies as demand stayed strong across most industries. Firms raised their production levels to meet all the new business coming through their doors. Agriculture and retail shops managed to charge customers more money for their products. Other businesses kept their prices the same even though their costs went up. Companies competed hard against each other to win new clients.
Workers got pay raises as businesses needed more hands on deck to handle growing orders. Temporary and permanent staff numbers both climbed as companies expanded their teams. Fuel and material prices pushed up business expenses across the board. Construction companies were the only ones that saw their costs drop during the month. Firms cleared their backlog of unfinished work for the sixth month running.
Business owners feel confident about the future and plan to spend more on advertising. They want to reach new customers and grow their market share. Inflation stayed low at just 3.9 percent as the shilling got stronger. Energy prices actually fell which helped keep overall costs down for everyone.
More customers placed orders with local companies as demand stayed strong across most industries. Firms raised their production levels to meet all the new business coming through their doors. Agriculture and retail shops managed to charge customers more money for their products. Other businesses kept their prices the same even though their costs went up. Companies competed hard against each other to win new clients.
Workers got pay raises as businesses needed more hands on deck to handle growing orders. Temporary and permanent staff numbers both climbed as companies expanded their teams. Fuel and material prices pushed up business expenses across the board. Construction companies were the only ones that saw their costs drop during the month. Firms cleared their backlog of unfinished work for the sixth month running.
Business owners feel confident about the future and plan to spend more on advertising. They want to reach new customers and grow their market share. Inflation stayed low at just 3.9 percent as the shilling got stronger. Energy prices actually fell which helped keep overall costs down for everyone.
