Business leaders want economic reforms to boost the economy Planned government borrowing and increased taxes to fund the Shs29 trillion budget for financial year 2017/2018 have left investors and business leaders worried about the coming year, ahead of the budget announcement next week, an informal survey by The Independent has …
Read More »Making sense of Uganda’s current economic struggles
Kampala, Uganda| CSBAG| Every time a government official comes out to explain why the economy is poorly performing, they cite external and natural factors. These range from slow growth in China, to fall in commodity prices, tight financing conditions in Europe, and geo-political events such as Brexit and U.S politics. …
Read More »ANALYSIS: There’s more to Africa’s growth story than lagging income rates
Pretoria, South Africa| Jakkie CILLIERS | ISS TODAY| As part of the ‘Africa rising’ narrative, much has been made of the continent’s growth story. The global recession of 2007/8 hit Africa hard, but it remained remarkably resilient, with growth forecast to 2030 at around 1.3% faster than average growth rates …
Read More »UAE’s Etihad to suspend flights to Qatar
Abu Dhabi, United Arab Emirates | AFP | Abu Dhabi’s Etihad Airways said Monday it would suspend flights to Qatar after the United Arab Emirates was among major Gulf states to sever ties with Doha in an unprecedented regional crisis. Etihad said flights would stop on Tuesday, after the UAE, …
Read More »World Bank economist: Risks to world economy receded
Washington, United States | AFP | The World Bank is keeping its forecast for global growth in 2017 unchanged, because for the first time in years, no new risks have arisen to threaten the outlook. “Over the past four years this is the first time we didn’t have a downgrade …
Read More »ANALYSIS: Business feels Chinese pinch
Indians, local traders struggle as red dragon invades retail If any one place can be described as the heartbeat of Uganda’s retail business, it is Kikuubo Road; a half kilometer road in down town Kampala, that is an open market yard. At any time of day it is so packed …
Read More »Traders protest increased property tax
THIS WEEK: Kampala traders are up in arms over increased property and commercial tax in the city levied by Kampala Capital City Authority (KCCA). Some of the properties include business arcades which house majority of businesses in the city. Several of the traders who appeared at the valuation court at …
Read More »UGANDA AIRLINES: Museveni meets Airbus representatives
President meets Airbus representatives, assures Ugandans, “Uganda Airlines will succeed” Entebbe, Uganda| PPU| President Yoweri Kaguta Museveni has said that once revived, the Uganda Airlines will succeed mainly because of the direct travel opportunities that it will offer its citizens in the diaspora, the business community and tourists. He said the …
Read More »Museveni launches initiative on skilling the girl child
Kampala, Uganda | PPU | President Yoweri Kaguta Museveni has launched “The presidential initiative on skilling the girl child” at the Northern Wing of Wandegeya market outside Kampala. The Presidential Initiative on Skilling The girl child, aims to reduce on the unemployment rates by offering girls extra skills in baking, tailoring, weaving, shoe-making …
Read More »Five Equity Bank employees sentenced over embezzling sh4.6billion
Five employees of Equity Bank – Uganda have been sentenced to jail terms ranging from 5 to 12 years after the Anti-Corruption Court found them guilty of embezzling sh4.6 billion from their employer. Justice Margaret Tibulya has sentenced Abubakar Karungi to 12 years, David Sserwamba and Matthew Keeya have been …
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