As part of its continued efforts to support businesses amidst numerous challenges presented by the impact of COVID-19, dfcu Bank is offering Unsecured bid bonds of up to Shs500m to support traders and contractors in the management of their working capital and secure contracts. Contractors in road construction, building and
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World Bank Chief Economist Carmen Reinhart (pictured above) said the coronavirus pandemic is turning into a major economic crisis and warned of the possibility of a financial crisis emerging. “This did not start as a financial crisis but it is morphing into a major economic crisis, with very serious financial
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Ssekabaka Muteesa II’s Rolls Royce which the government returned to Buganda Kingdom recently By Denis Jjuuko Coming from this part of the world, for many years, I was always baffled by what some of the people in the developed world spend their money on. I am interested in world news,
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John R. Musinguzi, the URA Commissioner General addressing the press today Uganda Revenue Authority (URA) recorded Shs4.07 trillion net revenue collections in the first quarter of 2020/2021 (July to September 2020) against a target of Shs2.99 trillion, thus representing a performing of 135.69%. This was disclosed by John R. Musinguzi,
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East African partner states are losing out billions of dollars by inadequately investing in adding value to horticulture and leather goods produced in the region and not addressing bottlenecks derailing growth in the sectors. This follows findings from a report launched by the East African Business Council (EABC) in collaboration
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Allan Atuhairwe, the Head of Trade & Working Capital at Absa Bank Uganda The COVID-19 pandemic has adversely hit economies world over. In Uganda, traders both importers and exporters are one of the key players in the economy that have been impacted most following the COVID-19 induced lockdown announced in
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A Customer care worker explains about different voltage metres at the Lugogo Umeme Centre in Kampala. Photo/NATION MEDIA GROUP Uganda’s power distributor, Umeme limited is yet to convince President Yoweri Museveni that its concession deserves to be renewed. Umeme’s power distribution concession is due to expire in March 2025 having
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Uganda’s chances of eliminating poverty by 2030 as per Sustainable Development Goals (SDGs) are very minimal, Researchers at Economic Policy Research Centre (EPRC) have revealed. The Ugandan Government committed itself to attaining SDGs. Authored by Madina Guloba, Sarah Ssewanyana, Medard Kakuru and Ibrahim Kasirye, the team argues that poverty is
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By Phillip Niwamanya The COVID-19 pandemic has disrupted lives, livelihoods, communities and businesses worldwide. While the pandemic has affected every corner of the world, not everyone has been affected the same way. According to a report by the International Trade Centre titled “The Great Lockdown and its Effects on Small
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Uganda is set to lose US$287M (about ShsShs1.062Trn) in taxes because of the Double Tax Agreements signed between Uganda and Netherlands that will see Total walk away without paying some taxes to Uganda Revenue Authority (URA), a new report has revealed. Titled “The Money Pipeline”, the Oxfam released yesterday estimates
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