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Manufacturing sector's lack of credit worries UMEME
UMEME, is concerned over the low levels of credit to the manufacturing sector estimated at just 1% of growth over the year

Power supplier UMEME is concerned over the low levels of credit to the manufacturing sector estimated at just 1% of growth over the year, saying it will impact on large-scale power consumption.

 

UMEME’s  position which brings to the fore the realities of numerous challenges within Uganda’s economy comes just days after Bank of Uganda decried the slow growth in private sector credit.

 

On Tuesday, Deputy Governor, Dr Louis Kasekende, warned that at just 6% down from 15% in growth of private sector credit this year, the trend will affect the projected economic growth.

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