Khartoum, Sudan | XINHUA | Chairman of Sudan’s Sovereign Council Abdel Fattah al-Burhan on Saturday said removing Sudan from the U.S. list of states sponsoring terrorism constitutes a priority for the transitional government. Al-Burhan made the remarks when addressing the opening session of the first National Economic Conference, which kicked off …
Read More »Uganda’s mobile money transactions hits Shs 80trillion
Kampala, Uganda | Isaac Khisa | Uganda’s mobile money transactions grew by 19.3% to Shs 79.8 trillion for the year ending June.30, according to Michael Atingi-Ego, deputy governor, Bank of Uganda. Atingi, who was speaking during the Uganda Bankers Association retreat at the Kampala Sheraton Hotel on Sept.22, said out …
Read More »NSSF interest may dip to single digit
Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund forecasts it will pay members less than 10 percent interest down from the double-digit interest rate that it has paid over the last several years after their operations were adversely affected by the COVID-19 pandemic. The final interest rate …
Read More »Lockdown sparked leap in electronic banking transactions
Kampala, Uganda | THE INDEPENDENT | The financial sector recorded a big jump in electronic transactions over the last year boosted by the lockdown that was induced by the COVID-19 pandemic, according to sector players. The economy was largely shutdown in March with the government banning most activities like public …
Read More »UN chief calls for political will for Sustainable Development Goals
United Nations | XINHUA | United Nations (UN) Secretary-General Antonio Guterres on Friday called for political will and bold action to achieve the Sustainable Development Goals (SDGs). Public appetite for transformative change is growing, he said in his opening remarks at the SDG Moment 2020. “But one critical ingredient is …
Read More »Role of Central Bank crucial in election process
Bank of Uganda should utilize its mandate to regulate spending during 2021 electoral processes COMMENT | Fred Kasalirwe | The recently concluded National Resistance Movement (NRM) primaries have seen massive monetization of the electoral processes with huge sums of money seen exchanging hands to influence voters’ decisions. If this is just …
Read More »High business collapse trailing Uganda’s economy
Kampala, Uganda | THE INDEPENDENT | Knowledge gaps and the high costs of doing business remain a major hindrance to Uganda’s economic growth as most business enterprises started in the country do not survive beyond their first birthday. Ronnie Mulongo, manager Private Sector Foundation Uganda (PSFU) says that some entrepreneurs lack …
Read More »Shilling depreciates as economic activity picks
Kampala, Uganda | THE INDEPENDENT | The Uganda shilling has started losing its strength against the US Dollar in a reverse trend that had seen the local currency remain strong during and after the lockdown period. In a trend that surprised observers, the shilling held steady when diaspora remittances, offshore …
Read More »EAC rolls out regional electronic cargo and driver tracking system
Kampala, Uganda | THE INDEPENDENT | The East Africa Community (EAC) secretariat and its partner states have unveiled a new mobile application to enable the issuance of the EAC COVID-19 digital certificates that are mutually recognised by the partner states. The app dubbed the Regional Electronic Cargo and Driver Tracking System …
Read More »AU mulls guarantee scheme for small businesses to spur economic transformation
Nairobi, Kenya | XINHUA | The African Union (AU) is planning to put in place a guarantee scheme for micro, small and medium-sized enterprises (MSME) to speed up the continent’s economic transformation, an official said on Wednesday. Amine Idriss Adoume, director in charge of delivery program and coordination at the …
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