Business Brifes

Africa’s smartphone market continues to grow faster than in other regions, due to the high population and economic growth, according to Tecno Mobile.
In Uganda, 30 percent of mobile phones are smartphones, and manufacturers now focus more on the camera and storage, as customer needs evolve..
Launching the Tecno Spark 3 phone, Tecno Uganda Country Director Shiva Chong said as the economy and populations keep growing, so does the market.
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Following a court ruling that allowed Hoima Sugar Co to clear Bugoma Forest in Hoima, a group of conservationists are petitioning government to reverse the decision and protect the forest.
The Save Bugoma Forest petition has raised 4,800 signatures of the 5000 target, calling Parliament and the International Union for Conservation of Nature for help.
The 41 hectare forest is home to 500 chimpanzees among other wildlife.
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The Bank of Uganda warns the public that buying of foreign exchange from someone not licensed is illegal and a prosecutable money-laundering act.
BOU says there are persons dealing in foreign currency on streets and other areas without license, which poses a risk of loss through theft or counterfeits.
It says forex business should be done where the license and prices are displayed. ……………………………………………………………………………………
Ugandans are the fifth highest consumers of alcoholic drinks on a list of 11 African countries surveyed by the Institute of Economic Affairs, IEA.
The report shows that an average drinker consumes 9.5 litres compared to Nigeria’s 13.4 and Gabon’s 11.5, followed by Eswatini and Namibia.
Ugandans compare slightly higher than Tanzanians and Rwandans, while Burundians take 7.5 litres and the Kenyans half of that.