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Tag Archives: UDB

Tour operators asked to formalize businesses

Kampala, Uganda | THE INDEPENDENT | Tourism sector players have been advised to formalize their businesses and register them with the Uganda Tourism Board if they are to benefit from government programs. Since September, sections of players have been crying out over a rescue package jointly provided by the government and …

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2020/2021 election economy

Tough times ahead as miscalculated spending, political activities and coronavirus threaten fast recovery of economic activities  Kampala, Uganda | JULIUS BUSINGE | Uganda’s economy has been on a recovery path following the easing of COVID-19 pandemic lockdown restrictions, but the uncertainty surrounding the upcoming general elections is the latest concern, economists …

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UDB receives applications for tourism sector grant

Kampala, Uganda | THE INDEPENDENT | The Uganda Development Bank-UDB has so far received 41 applications from tourism operators seeking to access funds to recover from the effects of Covid-19. In July, the Ministry of Tourism negotiated a 6M Euro (25.2 billion) stimulus package from the EU towards the private …

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Pearl Dairy 5 year growth projection

New markets, increased consumption, and stable EAC economy will boost returns, company executives say Kampala, Uganda | JULIUS BUSINGE | Executives at Pearl Dairy Farms Limited expect a boom in business in the next five years supported by an increase in milk consumption, new markets and the easing of trade …

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Private sector, CSOs hail gov’t for tax relief, recapitalizing of UDB

Kampala, Uganda | THE INDEPENDENT | The Private Sector Foundation and Civil Society Organisations have welcomed the budget saying it reflects Uganda’s current situation and looks at reviving vital sectors. On Thursday, the Minister for Finance Matia Kasaija passed 45 trillion shillings budget for the 2020/2012 financial year. Dr Elly …

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Uganda Development Bank to cut lending rates

Kampala, Uganda | Khisa Isaac | Uganda Development Bank (UDB) is considering reducing interest rates by two percentage points to 10% on loans to be advanced to local companies involved in various productive activities as the coronavirus containment measures takes toll on the economy. This development comes in the wake of the …

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Expect no direct financial stimulus – Kasaija

Kampala, Uganda |  THE INDEPENDENT |  The Finance Minister Matia Kasaija has said that the government does not have a provision for any fiscal stimulus for businesses that have been affected by the impacts of the COVID-19 pandemic. Several economists and players within the private sector have been calling upon the …

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