Kampala, Uganda | THE INDEPENDENT | The Government plans to spend 1.826 Trillion Shillings on repayments of external debt next financial year, up from 1.12 trillion Shillings in the current year. The increase is attributed to an increase in non-concessional financing. Non-concessional loans usually carry commercial interest rates which are …
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Kampala, Uganda | THE INDEPENDENT | Finance, Planning and Economic Development Minister, Matia Kasaija has sailed through unopposed as the Buyanja West member of parliament in Kibaale District following the withdrawal of his sole opponent, Paul Kyalimpa. Kyalimpa quit the race following his appointment as the Deputy Director-General Uganda Investments Authority, …
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Kampala, Uganda | THE INDEPENDENT | The government has unveiled a plan to pay Uganda Shillings 11.3 billion to more than 1,000 tobacco farmers in Bunyoro sub-region who were denied payments by the tobacco companies that had reportedly contracted them. Seven companies purchased tobacco leaf from the farmers whom say they …
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Kampala, Uganda | THE INDEPENDENT | The Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has tasked the Ministry of Finance to refund 800 Million Shillings to the Departed Asians Properties Custodian Board taken after the closure of the International Credit Bank (ICB). Finance Minister Matia Kasaija on …
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Kampala, Uganda | THE INDEPENDENT | The Ministry of Water and Environment has restored a laughable 6.644.939 hectares of targeted wetlands between financial years 2012/2013 and 2019/2020. This is a percentage of 0.0095% wetlands restored of the 70,000 hectares’ (760 km) target set by the year 2030. 18 out 22 districts …
Read More »Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance is seeking to add another 390 billion Shillings to the supplementary request of 3.426 trillion Shillings currently before the Parliamentary committee. The request puts the supplementary budget at 3.853 trillion Shillings. The first supplementary is to finance a classified budget …
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Kampala, Uganda | THE INDEPENDENT | Uganda’s banking sector is appealing to the global lending community to come to the rescue of Uganda’s economy where the local lenders are finding it hard to reach in the quest to revive the economy. The commercial banks admit that some sectors of the economy …
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Kampala, Uganda | THE INDEPENDENT | Savers with the National Social Security Fund will get an additional 10.75 percent of the value of their total savings held as at July 2020 in form of annual interest. This follows the surprise declaration of the interest rate for the year by the Minister …
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Kampala, Uganda | THE INDEPENDENT | State agencies overseeing infrastructure development have put the blame on the errant government officials and the procurement regime for the delays in implementing public infrastructure projects. This comes after Finance Minister Matia Kasaija challenged Prime Minister Dr Ruhakana Rugunda to find ways of ensuring …
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Kampala, Uganda | THE INDEPENDENT | A meeting convened by the Speaker of Parliament Rebecca Kadaga to resolve the US $42M payment dispute for Isimba Dam construction ended in counter accusations between the officials of China International Water & Electric Co and Uganda Electricity Generation Company Limited-UEGCL. The Tuesday afternoon …
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The Independent Uganda: You get the Truth we Pay the Price
