Economy
Lagarde Applauds Uganda’s Poverty Reduction Achievements
By Modupe Gbadeyanka
The poverty reduction achievements of Uganda under the President Yoweri Museveni led administration have received the commendations of the Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde.
Ms Lagarde, after her visit to Uganda, disclosed that the poverty reduction achievements over the past three decades have been underwritten by strong macroeconomic policies, and a reliance on the private sector as the engine of growth.
She also applauded the Minister of Finance, Economic Planning and Development, Matia Kasaija, the Bank of Uganda Governor, Mr Emmanuel Tumusiime-Mutebile and other senior officials for their productive exchange of views and their warm hospitality during her visit to Kampala.
However, the IMF boss pointed out that “Looking ahead, I welcome the government’s sense of urgency and emphasis on promoting inclusive growth which is needed to make further progress on poverty reduction and create jobs for the fast-growing population.”
She said, “Uganda has appropriately embarked on a strategy of scaled-up infrastructure investment in the energy and transport sectors to relieve key growth bottlenecks and enhance regional linkages.
“The government’s focus on overcoming implementation challenges, including through strengthening public investment management, should help ensure that these investments yield the desired outcomes in terms of higher growth and job creation.
“In my discussions, I emphasized that lifting growth will also require complementary reforms that reduce income inequality and support gender equality. I commend the government’s achievements in financial inclusion, including the rapid growth of mobile banking.
“Under the Policy Support Instrument which Uganda has agreed with the IMF, the government monitors the level of social spending to ensure that sufficient resources are available.
“Uganda is set to benefit from deeper economic integration within the East African Community and the advent of oil production in a few years. We agreed that strong institutions and a favourable business environment are essential for seizing these opportunities.
“With regards to managing future oil revenue in particular, I was encouraged by the government’s commitment to transparency and developing a fiscal framework that allows for a sustainable use of the resource.
“More generally, I commended the government and the Bank of Uganda for their prudent approach to fiscal and monetary policy. Continued progress on domestic revenue mobilization will help keep government debt on a sustainable path. Uganda’s inflation targeting framework is serving the country well.
“Lastly, I was impressed by Uganda’s integrative approach to refugees by giving them access to public services and providing them with the means for being economically active. I call on the international community to continue supporting Uganda in this area.
“Finally, I would like to reiterate the IMF’s strong support for Uganda, and look forward to our continued partnership.”
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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