Uganda Tourism Board (UTB) has unveiled Princess Ruth Nsemere Komuntale of Tooro Kingdom as its newest Brand Ambassador, in a partnership officials say will boost cultural tourism and international visibility for the country.

The appointment was announced during a moving homecoming ceremony in Buziga, Kampala, where Komuntale returned from the United States with her husband, Prince Philip, to celebrate the 30th coronation anniversary of her brother, King Oyo Nyimba Kabamba Iguru Rukidi IV.

UTB Chief Executive Juliana Kaggwa signed the partnership with the princess, calling her “the perfect voice to share Uganda’s story with the world.”

“Her royal heritage, international profile, and deep love for Uganda make her a natural cultural envoy. This moment, as we celebrate 30 years of King Oyo’s reign, reflects the strength of cultural tourism in Uganda,” Kaggwa said.

Tukeikiriza Mellon, head of the Uganda Convention Bureau unit at UTB, said Komuntale’s appointment marks a bold step in elevating culture as a core pillar of tourism promotion.

“We believe that culture is one of our strongest assets in positioning Uganda as a premier global destination,” Mellon said. “Yesterday, we took another bold step in this direction by appointing Princess Ruth Komuntale of Tooro Kingdom as our Tourism Ambassador for the United States market.”

She explained that the appointment is not just symbolic but reflects growing collaboration between cultural institutions and tourism promotion.

“Princess Komuntale, with her strong presence in the U.S. and deep cultural roots in Tooro, brings a unique opportunity to showcase Uganda’s story beyond wildlife and landscapes. Her voice will amplify Uganda’s rich traditions, heritage, and cultural events like the Empango celebrations, while also attracting interest in our cuisine, music, and hospitality.”

Mellon added that the initiative is part of a wider UTB strategy that includes: Leveraging cultural icons and diaspora Ugandans to open new international markets. Blending heritage with modern tourism experiences and Strengthening Destination Uganda’s visibility and competitiveness on the global stage.

“With culture as a cornerstone, tourism becomes more than travel—it becomes a journey into identity, belonging, and pride. Partnerships like this with the Tooro Kingdom are helping us build packages and experiences that carry the true promise of the Pearl of Africa to the world,” she said.

Tourism is Uganda’s leading foreign exchange earner, contributing about 7.7% to GDP and employing more than 600,000 people directly, according to government data. The country welcomed 1.3 million international visitors in 2023, a recovery from pandemic lows but still below the pre-COVID peak of 1.5 million arrivals in 2019. Officials say new branding efforts are critical to reaching the target of 3 million annual arrivals by 2030.

Komuntale, who was raised in both Uganda and the United States, pledged to use her ambassadorship to promote Uganda’s culture and tourism globally. She also paid tribute to her brother, who ascended the throne at just three years old and has since become one of Africa’s most recognized monarchs.

“I am so proud of my brother, not only as a great king but as the man he has become. To see him lead with grace, wisdom, and humility for 30 years is deeply moving,” she said.

She also delivered a message to young Ugandans, urging them to embrace their heritage and “let culture be a source of strength as they create, innovate, and lead.”

The appointment comes ahead of the Ekyooto Ha Mpango festival, scheduled for September 10–13 in Fort Portal, which will showcase royal rituals, cultural performances, fashion, and tourism in celebration of King Oyo’s 30-year reign.

Komuntale’s global profile is expected to boost Uganda’s campaign to position Fort Portal and the wider Tooro region as cultural tourism hubs, complementing its wildlife and adventure attractions.

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Global exports of green coffee beans fell by 0.7 percent in July 2025, totalling 10.3 million bags compared to 10.38 million bags in July 2024, according to the Coffee Market Report – August 2025 released by the International Coffee Organisation [ICO].

According to the report, this marks the sixth consecutive month of negative growth in the current coffee year, with year-to-date green bean exports down 2.5 percent to 102.25 million bags, from 104.89 million bags recorded between October 2023 and July 2024.

“Coffee year 2023/24 was a record year for green bean exports, reaching 125.44 million bags, the highest volume ever recorded, representing a 12.4 percent increase and a net gain of 13.87 million bags,” the ICO report noted. “To put this into context, the average annual net gain from coffee years 2011/12 to 2018/19 was 3.32 million bags, with the highest single-year gain being 9.7 million bags. Therefore, the current downturn, both monthly and year-to-date, was not unexpected and is partially attributed to a base effect.”

The report also highlights a structural shift in the global coffee trade, with green beans comprising a declining share of total coffee exports. On a 12-month moving average basis, this share has dropped by 5.8 percentage points, from 94.5% in January 2011 to 88.6 percent in July 2025.

Over the past five years, several major exporters have been investing in value-added processing, particularly soluble coffee production. Between 2020 and 2025, India increased its soluble coffee capacity by the equivalent of 0.89 million bags of green beans, while Vietnam added 1.92 million bags. In Mexico, Nestlé commissioned a new plant in July 2022 with a capacity of 0.67 million bags.

On the other hand, the ICO report shows total global exports of all coffee types decreased by 1.6 percent in July 2025 to 11.42 million bags, down from 11.6 million bags in July 2024. “This marks the fifth month of negative growth in the current coffee year, with year-to-date exports slightly lower at 115.61 million bags, compared to 115.94 million during the same period last year,” says the report.

In contrast, Africa’s exports of all coffee forms rose by 4.4 percent to 2.05 million bags in July 2025, up from 1.96 million in July 2024. Uganda led this growth, with exports surging by 51.4 percent to 1.01 million bags.

“A strong harvest, especially from the Greater Masaka and southwestern regions—along with high international prices and front-loading strategies, contributed to Uganda’s impressive performance,” the report said, citing a report by Uganda’s Agriculture ministry.

Ethiopia also posted a strong showing, exporting 0.81 million bags, up 12.5 percent from 0.72 million in July 2024.

However, the region’s overall growth was tempered by significant declines in Côte d’Ivoire and Kenya, whose exports fell by 59.9 percent and 40.5 percent, respectively. These two countries recorded a combined net loss of 0.12 million bags.

The report says South America was the largest contributor to the global decline, with exports falling by 18.5 percent to 4.4 million bags in July 2025 from 5.4 million bags in July 2024. “As a result, the region’s share of global exports dropped to 38.5 percent, down from 46.5 percent a year earlier. This was the ninth consecutive month of export contraction in the region,” says the report.

The report argues Brazil was primarily responsible for the decline, with exports down 28.6 percent to 2.73 million bags from 3.83 million in July 2024. The ICO attributes this downturn to a base effect, following a record-breaking 2023/24 coffee year in which Brazil exported 50.1 million bags, 13.01 million more than in 2022/23, marking a 35.1 percent increase.

The surge in Brazil’s exports last year was largely driven by a supply gap caused by a poor harvest in Vietnam, whose exports were down 11.7 percent [a net loss of 3.31 million bags]. With Vietnamese supply now stabilised, demand pressure on Brazil has eased. Additionally, ongoing logistical challenges at the Port of Santos have further dampened Brazilian export volumes.

The report says coffee exports from Mexico and Central America grew by 7.2 percent in July 2025, reaching 1.63 million bags, up from 1.52 million bags in July 2024. This marks the ninth month of growth in the first ten months of the 2024/25 coffee year, with year-to-date exports up 11.1 percent to 13.73 million bags.

Asia and Oceania recorded the strongest growth among all regions, with exports up 22.7 percent to 3.34 million bags in July 2025, compared to 2.73 million in the same month last year. The expansion was largely driven by Vietnam, which saw a 29.4 percent increase in exports, rising from 1.31 million to 1.7 million bags.

This growth, the report notes, also reflects a base effect, as Vietnam’s July 2024 export figures were the lowest for that month since 2010.

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Bank of Uganda Governor Michael Atingi-Ego has urged national development banks across Africa to focus on correcting market failures and catalyzing private investment rather than competing with commercial banks.

Speaking at the close of the Uganda Development Financing Summit at Speke Resort Munyonyo on Tuesday, September 2, 2025, Dr. Atingi-Ego said institutions such as the Uganda Development Bank (UDB) should provide long-term, high-risk financing that commercial lenders are ill-suited to offer.

“Going to a commercial bank for a 10-year loan from a bank whose liability averages two years is really suicidal,” he warned, noting that the mismatch between short-term deposits and long-term credit raises borrowing costs for both businesses and individuals.

The Governor emphasized that development finance must be “purposeful, inclusive and forward-looking”, targeting projects that traditional financiers avoid while unlocking private sector growth. If development banks were stronger, he argued, they would provide long-term capital, leaving commercial banks to focus on short-term working capital.

Africa’s financing needs are immense. Estimates put the continent’s annual development funding requirement at between $900 billion and $1.3 trillion—around 43% of GDP. Achieving the Sustainable Development Goals (SDGs) by 2030 would cost about $1.3 trillion annually, with up to $250 billion required for climate action alone.

To close this gap, Dr. Atingi-Ego urged African governments to strengthen both national and continental lenders, such as the African Development Bank. Yet he acknowledged the challenge of funding development banks themselves, questioning whether options like issuing corporate bonds are viable given high interest rates.

“Can we maybe consider sustainable financing, where development banks run a sustainability agenda so they can direct funding to projects that are viable and long-term?” he asked.

Currently, UDB lends at an average interest rate of 12%, down from 15%—a level President Museveni recently described as still too high, though he underscored the bank’s importance to Uganda’s growth strategy.

Dr. Atingi-Ego said national development banks must take the lead in value addition and bankable project creation to drive Uganda’s ten-fold growth agenda, which envisions expanding private sector credit from the current $7.5 billion (12% of GDP) to at least $80 billion.

“Development financing is critical,” he said, adding that without robust development banks, African economies risk being trapped in cycles of expensive credit and underinvestment.

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Equity Bank Uganda continues its commitment to fostering SME growth nationwide. In Fort Portal, entrepreneurs, traders and community leaders convened to network and envision a brighter future for regional business at the 3^rd regional event of Equity Bank Uganda’s Tupange Business Ne Equity, a customer engagement campaign which provides essential financial support to small and medium enterprises (SMEs) across the country.

Following successful customer engagement events in Arua and Mbale, the Fort Portal legs saw customers listening, engaging, networking and empowering participants as Equity Bank staff and business speakers provided insights on the current challenges facing SMES and solutions towards overcoming them.

“At Equity Bank, we value each and every customer and are committed to giving them dignity in whatever aspect of life they do business,” said Felix Babeiha, Branch Manager in Fort Portal.

Professor Alex Ariho (PhD), the Chief Executive Officer of African Agribusiness Incubators Network (AAIN) and Founding Director of Excel Hort Consult Agribusiness Incubator Limited (EHCAI) that operates across Africa, delivered the keynote address, urging SMEs to adopt innovation, skills development and collaboration for long-term success.

He noted that SMEs represent 90% of global businesses and could generate up to 80% of Uganda’s employment opportunities if properly supported.

“If you succeed, the economy succeeds,”  Prof. Ariho emphasized, encouraging entrepreneurs to prioritize value addition, resilience, and a growth-oriented mindset.

Olivia Mugaba, Head of SMEs at Equity Bank Uganda, highlighted SMEs as the backbone of the economy, driving transformation in Uganda and beyond.

“Together, we must support and strengthen this backbone of our economy,” she urged.

Reflecting on Equity Bank’s evolution, Robert Wanok, Head of Retail – Corporate Banking at

Equity Bank Uganda, stated, “Equity Bank’s journey has always been guided by our customers. Over the years, we have taken deliberate steps to listen closely to their feedback. Through an internal clean-up and accountability exercise, we have enhanced our service delivery to respond better to their needs, because customer feedback is at the heart of everything we do.”

The event also honoured local SME leaders that saw Equity Bank presented with the SME Ecosystem Customer Award to Mubunga Samuel, Managing Director of Mubunga Investments Multipurpose Co. Ltd., a distributor of Uganda Breweries Limited in Bundibugyo and Ntoroko districts.

The SME Customer Loyalty Award went to Prof. Edward Bitanywaine Rugumayo of Tooro Botanical Gardens, while the SME Business Influencer Award was given to Rt. Rev. Bishop Reuben Kisembo of the Rwenzori Diocese. These recognitions underscored the role of leadership, loyalty, and influence in strengthening business communities.

Catherine Psomgen, Director of Public Sector and Social Investments at Equity Uganda, reinforced the bank’s collaborative approach: “At Equity, we support the entire value chain from anchor businesses to the smallest players, ensuring that everyone grows together. We are committed to walking with you on your growth journey.”

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