Industry & AnalysisNews & Analysis

42-day Lockdown Slowed business in July – Stanbic survey

by CEO Reporter
Ronald Muyanja, the Head of Trading at Stanbic Bank Uganda. He says some firms reported that they had been able to secure new customers over the month, thereby leading to higher new orders
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The recently concluded nationwide 42-day lockdown intended to lessen the spread of a second wave of the Covid-19 pandemic across Uganda has added to the continued economic slowdown. The headline Stanbic Purchasing Managers’ Index (PMI) slipped to 34.6 in July, down from 34.9 recorded during June. This is the second successive decline in business conditions since the lockdown was enforced on J

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