ECONOMIC GROWTH: Banks hedge hopes for recovery on key sectors
Financial institutions are hedging their hopes for the return to full profitability on the recovery of key economic sectors, such as tourism, trade and manufacturing. While releasing the financial results for the year 2020/21 for ABSA bank, officials also noted that the full reopening of the economy helped register over 100 billion shillings profit after tax for the first time. According to the Bank of Uganda, demand and supply of credit improved in the quarter to October 2021, reflecting improved economic activity following the easing of the lockdown.
