The development and acceptance of digital currencies in Africa have been truly monumental. Although in 2022, the digital asset industry saw several high-profile breaches of trust and was largely characterized by volatility, the adoption of cryptocurrencies within the continent continued to grow. There has also been a shift in reliance
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Kenya’s dollar multimillionaires have doubled in 10 years. FILE PHOTO | SHUTTERSTOCK The number of dollar multimillionaires in Kenya more than doubled in the 10 years between 2012-2022 after individuals with a net worth of KSh620 million ($5 million) and above rose to 1,890 in a decade. A report by
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Prof. Ezra Suruma says the existence of UCDA as an institution has been indispensable to the orderly expansion of the coffee sub sector. Coffee stakeholders have unanimously urged Government to consider rescinding a decision to merge Uganda Coffee Development Authority (UCDA) with the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF),
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By James Asiimwe Kamara Tax is a price we pay for a civilized and organized society. It is the major source of revenue that enables governments world over to provide public amenities for their citizens. Whereas the Government of Uganda is mandated to collect tax from eligible citizens, it performs
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In recent years, the government has been pushing for increased savings amongst Ugandans with savings estimated at 17.95 percent of the value of the economy in 2021, according to the World Bank. This means for every 100 Shillings made in Uganda, only about 18 Shillings was saved. This was an
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Ugandan taxpayers will have to pay US$900 million (UShs3.3 trillion) per year between FY2022/23-2025/26 to service external debt. The revelation was made by Michael Atingi-Ego, the Deputy Governor, Bank of Uganda when he appeared before the Parliamentary Committee on Finance, Planning and Economic Development to discuss the economic performance and
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Dr. Omife I. Omife, Continental Advisory Director at Alliance Against Monopoly The Alliance Against Monopoly (AAM), a Pan-African anti-monopoly group has called upon regulators and lawmakers to nip in the bud, the “ugly monster of monopolies and duopolies that are slowly but surely choking the country’s ICT sector, stifling innovation and reversing the
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Michael Atingi-Ego, the Deputy Governor, Bank of Uganda The Deputy Governor, Bank of Uganda, Michael Atingi-Ego appeared before the Parliamentary Committee on Finance, Planning and Economic Development to discuss the economic performance and outlook on Tuesday January 10, 2023. Below are the key highlights of his submission about Uganda’s
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Wealthy Kenyans and firms had piled up KSh922 billion (UShs27.3 trillion) in dollars by last November as they sought to preserve the value of their bank deposits amid a depreciating shilling. Wealthy Kenyans and firms had piled up a record KSh922 billion (UShs27.3 trillion) in dollars by last November
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Farmers in some parts of Uganda are abandoning sugarcane growing Sugarcane growers in Uganda are divided on the approach to realizing the best earnings from their sweat, with some calling for the institution of the Sugar Board. This comes as the cost of sugar continues to rise, now going for
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