Uganda’s economy set to grow 6.5% amid oil optimism

Uganda’s economy is set to grow by around six and a half percent this year, fueled by optimism over commercial oil production expected to begin next year, according to the government. However, the visiting ABSA group economist Jeff Gabbles, who spoke to NTV Business at a briefing yesterday, said that high lending rates, tight liquidity, and looming elections have economists cautioning that investors may stay on the sidelines. Despite that, experts say oil could be a game-changer, potentially pushing growth to double digits by 2027. Rachel Nabisubi reports.