Kampala, Uganda | THE INDEPENDENT | Four million Ugandans could lose their jobs if the Coronavirus pandemic persists for the next six months, according to the business climate index published by the Economic Policy Research Centre. EPRC conducted a survey, sending questionnaires electronically to 147 businesses which are a panel of …
Read More »Grim and getting worse: US set for historic unemployment surge
Washington, United States | AFP | Like a global tsunami, the coronavirus pandemic has caused a huge loss of life and taken a massive economic toll. In the US economy, skyrocketing unemployment is the most-visible sign of the devastation: almost overnight, at least 30 million workers lost their jobs. The April …
Read More »Gov’t orders mandatory wearing of facemasks as more businesses are allowed to reopen
Kampala, Uganda | THE INDEPENDENT | President Yoweri Museveni this evening has allowed a very limited number of businesses to reopen, as he extended the COVID-19 lockdown for another 14-days. The businesses so far allowed to open are hardware shops, mechanic workshops and garages, metal and wood workshops, insurance companies, 30 …
Read More »Businesses might not get insurance payouts for COVID-19 losses
Kampala, Uganda | THE INDEPENDENT | As most businesses scratch for options on how they will cover for losses incurred as a result of coronavirus disruption, it has emerged that insurance providers may not be a run to option. This according to several players in the industry is because COVID-19 …
Read More »Businesses to get relief on loans – Museveni
Kampala, Uganda | THE INDEPENDENT | In a thin relief to businesses during the shutdown due to coronavirus, President Yoweri Museveni announced Monday evening that his government would talk to banks to ensure that they don’t seize properties of defaulters during the 14-day period. Museveni who announced the ban of private …
Read More »Economist, traders ask gov’t to protect businesses in coronavirus crisis
Kampala, Uganda | THE INDEPENDENT | Government needs to devise means of protecting the economy from crumbling as a result of the temporary shutdown of key businesses because of the coronavirus. Makerere University Business School-MUBS Economics Lecturer and Policy Analyst, Ramathan Ggoobi says the coronavirus (COVID-19), which has since been declared …
Read More »Gov’t renews proposal to tax loss making businesses
Kampala, Uganda | THE INDEPENDENT | Officials from the Finance Ministry faced difficulty explaining a proposal by government to tax businesses that have been making losses for seven consecutive years. This same proposal was last year rejected by parliament. Ministry of Finance officials led by the State Minister of Finance …
Read More »Why 2019 could be good for businesses
Local traders claim foreign nationals involved in petty trade remains a headache Kampala, Uganda | ISAAC KHISA | Following the unexpected past bad year for businesses, there is a good chance that this could be reversed sometime this year, some analysts say. Their hope is that the economy, which has shown signs of …
Read More »Women businesses mushrooming, thanks to DFCU
By Ivan Rugambwa In 2007 DFCU Bank started an initiative known as the DFCU Women in Business program, the idea was that the bank would pioneer in creating a business enabling environment for women entrepreneurs with a special focus on small and medium Enterprises (SMEs) to flourish. But not even …
Read More »Fire outbreaks: Insurers divided on insuring informal businesses
By Eriasa S. Mukiibi Joseph Musoke is a distressed man. On Tuesday July 31, he woke up to the news that all the merchandise in his shop, which took him eleven years to build, had evaporated in a plume of smoke following the fire that gutted Kisekka Market that fateful …
Read More »