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Uganda Airlines to give local suppliers preference in $95 million procurement spend

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Uganda Airlines is looking into measures to help local suppliers get a larger share of the $95 million it wants to spend on procurement during the 2024–2025 fiscal year. The funds will be divided between works, services, and supplies.

By the end of 2024, the national carrier anticipates reaching the 700,000 passenger mark thanks to increases in capacity and frequency on important routes. At the airline’s inaugural supplier event this week in Kampala, where local suppliers were briefed on both current and upcoming prospects at the flag carrier, the numbers were revealed.

In the five years that the airline has been in business, local contracts have paid out Ush120 billion ($32.3 million), according to Chief Executive Officer Jenifer Bamuturaki. The database of local suppliers has expanded to 200. She also bemoaned, meanwhile, the difficulties the airline has had maintaining consistency and quality, which has frequently compelled it to import goods that might be made domestically.

According to Ms Bamuturaki, local suppliers must consider being globally competitive for their expansion to assist the carrier’s cargo operations and domestic export market.

The demand for onboard consumables is rising as the airline expands its network and the number of passengers rises, according to her, with 90% of them coming from local vendors.

Uganda Airlines anticipates reporting 480,000 passengers flown during fiscal year 2023–2024, based on preliminary figures. Nonetheless, it is anticipated that there would be roughly 700,000 passengers in 2024.

The network, which currently has 13 destinations, is growing due to up-gauging aircraft on regional routes, increasing frequency on important routes, and network development. The airline expanded its fleet in May by adding a leased A320 with 156 seats.

In addition to making space for additional frequencies, the aircraft has allowed the carrier to meet the increasing demand on routes like Nairobi, Kinshasa, and Johannesburg.

Nairobi, which is now served sixteen times a week, will expand to two flights a week starting in July. That is three flights each day, six days a week, excluding Saturday. There will be six instead of five days per week in Kinshasa, and four more days of double daily flights in Juba, for a total of nine flights per week.

After severing ties with Zanzibar, Dar es Salaam will now run five flights per week instead of just one. Kilimanjaro and Zanzibar will now be combined, with three weekly flights between the two locations.

“We remain committed to working with you to expand the range of products that you can supply on competitive terms. But we also want you to grow with us by transforming into globally competitive companies that can supply quality products not just Uganda Airlines but the global legacy airlines.”

“But you will need to concentrate effort on improving quality across packaging, consistency in taste and supply,” Ms Bamuturaki said.

She further stated that because its suppliers will help fill the cargo capacity, the company—which plans to start a specialized freighter service—sees their success as essential to its sustainable expansion.

She also directed them toward new growth opportunities, such as planting feedstock for energy firms as the first step in the sustainable aviation fuel value chain.

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Moroccan annual inflation rises to 0.8% in November

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Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from 0.7% in October to 0.8% in November.

Monthly, consumer prices decreased by 0.2% from October.

The primary driver of inflation, food costs, grew by 0.8% compared to the previous year, while non-food inflation climbed by 0.7%. Core inflation, which does not include more erratic items like food, increased 2.6% annually and 0.2% monthly.

According to the central bank, inflation is expected to average 1% this year, down from 6.1% last year.

Despite the Al-Haouz earthquake, a spike in inflation, and worldwide economic challenges, Morocco’s GDP grew by 3.4% in 2023.

A recovery in tourism, robust industrial exports, and rising private consumption—all bolstered by prudent macroeconomic policies—were the main drivers of growth.

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Nigeria’s $42bn foreign reserves enough for 9 months’ imports— Central Bank

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According to Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), the nation’s $42.01 billion in foreign reserves can cover imports of goods and services for almost nine months.

Cardoso promised Nigerians improved economic fortunes in 2025 while addressing the Senate Committee on Banking, Insurance, and Other Financial Institutions yesterday in Abuja at the presentation of the performance index report.

Cardoso stated: “External Reserves rose from $ 38.35 billion it was on September 30, 2024, to $ 42.01 billion as of December 12, 2024”.

He clarified that third-party receipts in Q3 2024 and revenues from taxes connected to crude oil were the main drivers of the rise in foreign reserves during the specified time.

“We saw remarkable improvements in our trade balance and maintained a current account surplus,” he added.

“Our external reserves level can finance over 9.09 months of import of goods and services or 13.91 months only, higher than the international benchmark of 3.0 months and a robust buffer against shocks”.

On cash shortage, the CBN boss reiterated the N150 million fine against any branch of banks caught illegally distributing new Naira notes to currency hawkers and unscrupulous elements and said the Nigerian economy will improve in 2025 through policies and measures.

He predicted a stronger economic future: “Despite our economy’s challenges, there are clear reasons for optimism.

“The gradual stabilization of the forex market, ongoing banking sector recapitalization, and positive growth trends in key sectors, especially the services sector, indicate a path toward recovery and stability.”

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