Key View

• Teleology Holdings Limited is the winning bidder for a majority stake in Uganda Telecoms Limited.
• The firm is relatively untested in the telecoms sector and driving a financial turnaround for the loss-making unit will require significant expertise and capital investment.
• It also faces downside risks from the government's growing

Key Views

• The Ugandan government's arrest and alleged torture of prominent opposition figures will keep public dissatisfaction towards President Yoweri Museveni's administration elevated over the short term.
• Although the government's approach has garnered both domestic and international criticism, the ruling party will retain control over

Key View:

• After a substantial cycle of monetary easing in recent years, increased upside risks to inflation will prevent the Bank of Uganda (BoU) from implementing further cuts to its policy rate over the short term.
• Robust economic growth prospects will further limit the impetus for monetary easing, as improved private consumption and ongoing