Uganda could lose up to US$ 218.3million (803.4bn) per annum potential revenue from just four crops if desert locusts that are already spread in 28 districts aren’t handled very well, Vincent Bamulangaki Ssempijja (pictured), the Minister of Agriculture, Animal Industry and Fisheries, has said. Addressing journalists at Uganda Media Centre
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The Bank of Uganda (BoU) revoked the banking license of Global Trust Bank Limited on 25th July 2014 under the provisions of the Financial Institutions Act, 2004 and immediately placed it under statutory liquidation. The Central Bank now says the liquidation process has been concluded successfully. “Bank of Uganda hereby
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The Uganda Government had set 2020 as the year for the country to attain a lower middle income status. World Bank ranks middle income countries as those whose per capita income (annual earnings per person) averages between US$1,036 and US$12,615. This means Uganda is battling to attain a Lower Middle
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The International Monetary Fund (IMF) has spoken out for the first time on the impact of COVID-19 commonly known as China Coronavirus on the global economy. Today in Riyadh, Ms. Kristalina Georgieva (pictured), Managing Director of the International Monetary Fund (IMF), made the following statement at the G20 Finance Ministers
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Uganda Communications Commission (UCC) has moved to tackle the growing cyber threat by launching the first-ever cybersecurity competition targeting university students. More than 500 university students aged 18-24 participated in an inaugural workshop on cybersecurity techniques at the Commission head office in Bugolobi on Friday, February 21, 2020. The workshop,
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Uganda Revenue Authority (URA) has over the years taken a social stand to carry out Corporate Social Responsibility (CSR) as a way of effecting social change in the communities in which it operates. This has helped build public confidence in the organization, created rapport and changed compliance behaviour within the
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The local currency weakened slightly against the dollar after opening the week relatively flat. Mid week market activity resulted in uptick in demand mainly driven by corporate players and interbank . Week closing quotes were at 3670/80 compared to opening levels of 3665/75. In the fixed income segment, a bond
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AZA, Africa’s biggest non-bank currency broker, has rolled out its recently upgraded payment platform BFX to Uganda. BFX is a B2B payment platform that leverages AZA’s hybrid infrastructure and empowers companies to use African currencies with less risk, cost and friction than ever before. The launch comes within three months
Read MoreEcobank Group, the pan-African banking group, is inviting African fintech entrepreneurs to enter the 3rd edition of the Ecobank Fintech Challenge. The Fintech Challenge gives African start-ups the opportunity to promote their fintech solutions, and potentially partner with Ecobank to roll-out their solutions across Ecobank’s 33 markets in Africa as
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The stock of total public debt has grown from US$ 10.74 billion at end June 2018 to US$ 12.55 billion (Shs46.36 Trillion) by end June 2019, Debt Sustainability analysis report 2018/19 by ministry of Finance, Planning and Economic Development has revealed. Of this, external debt was recorded at US$ 8.35
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