Total and Tullow have entered into an Agreement, through which Total shall acquire Tullow’s entire interests in Uganda Lake Albert development project including the East African Crude Oil Pipeline. The overall consideration paid by Total to Tullow will be $575M (Shs2.1 Trillion), with an initial payment of $500M at closing
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The impact of COVIG-19 on global trade is beginning to manifest. Latest figures indicate that Uganda’s exports declined by US$31m (Shs117.2bn) from US$383.62 million in January,2020 to US$352.91 million in February 2020. This was revealed by Amelia Anne Kyambadde (pictured), Minister of Trade, Industry and Cooperatives while addressing the press
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Janet K. Museveni (pictured), First Lady of Uganda & Minister of Education and Sports has urged parents to teach their children life skills during this period of lockdown aimed at preventing the spread of COVID-19. Addressing the nation yesterday Monday April 20, 2020, y on the Uganda Education and Sports
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Uganda Communications Commission (UCC) has noted with concern that some subscribers using digital financial platforms are falling prey to scammers engaged in mobile money fraud. “The scammers are running fake promotions and in some cases masquerading as employees of UCC or of a Mobile Network Operator (MNO), and requesting subscribers
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The Centre for Budget and Tax Policy (CBTP) has said the money and relief items being collected amount to public resources and that being the case, the same can only be appropriated or expended in line with statutory requirements under the Public Finance Management Act. CBTP is an independent not-for-profit
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The scale of disruption caused by COVID-19 to global tourism is shown in a comprehensive new report on travel restrictions from the World Tourism Organization (UNWTO). The landmark report, published at a time of unprecedented disruption for the sector, shows that almost all global destinations have imposed restrictions on travel
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The forex market was calm with the local unit trading flat for most of the trading sessions as market activity was at the lowest ebb. Market players were seen on the fence as demand dipped due to the lockdown. Trading was in a narrow range, holding at 3765/3775 on the
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As a new measure adopted to further combat the spread of Covid19 at Uganda’s borders, all truck drivers driving into Uganda are required to present themselves to the Ministry of Health officials for testing. On the 12th of April, 2020 a truck driver enroute to Southern Sudan went through the
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Members of Parliament on Finance, Planning and Economic Development Committee have rejected a number of new tax proposals on the property sector on grounds they will increase the administrative cost for companies in the business of commercial property. Finance Ministry recently tabled The Value Added Tax (Amendment) Bill, 2020 whose
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Government of Uganda has been conducting geothermal surveys from the nation’s geothermal energy resources in which a benign oil spill incident recently occurred at Kibiro, Hoima District. According to a statement issued by Robert Kasande (pictured), the Energy Ministry Permanent Secretary on April 15, 2020, government through Ministry of Energy
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