Tag Archives: economy

Nairobi, Kenya | Xinhua |  Affected by foreign investors’ flight in the wake of rate hikes in the United States, the Nairobi Securities Exchange has returned to lows last seen at the peak of the COVID-19 pandemic in 2020, reported the Kenya-based newspaper Business Daily. The U.S. Federal Reserve benchmark …

O End of Game Store in Uganda: The external maneuvers behind the move Kampala, Uganda  | THE INDEPENDENT | News of the impending closure of the Game Store at Uganda’s biggest all merchandise shopping point; the Lugogo Shopping Mall in Kampala, has added more cold wind on an already chilly …

Kampala, Uganda | THE INDEPENDENT | The government withheld substantial amounts of funds which were supposed to be released in the first quarter of the financial year 2022/2023, as a way of controlling the count of money in circulation, according to the Ministry of Finance, Planning and Economic Development. This fiscal …

Washington, U.S. | Xinhua | The International Monetary Fund (IMF) chief said Thursday there is a “fundamental shift” in the global economy, urging countries to bring down inflation, put in place responsible fiscal policy, and jointly support emerging market and developing economies. The global economy is moving “from a world of …

Kampala, Uganda | THE INDEPENDENT | Sugar manufacturers and cane growers have warned that the increased retail sugar prices in Uganda are to persist, with no hopes of decreasing soon. On average, sugar prices at retail now stands at 5,500 shillings a kilogram, up from an average of 4,000 shillings three weeks …

Kampala, Uganda | THE INDEPENDENT | The financial technology (FinTech) industry has grown faster than the managers of the economy had anticipated, with the number of FinTechs growing from just five in 2017 to 189 in 2022. This has come with regulatory challenges due to the complex nature of the industry that …

Budapest, Hungary | Xinhua | The Western countries’ sanctions against Russia have turned the “local” conflict between Russia and Ukraine into a “global economic war,” Hungary’s Prime Minister Viktor Orban said on Monday. An increasing number of countries across the world are becoming “victim” of the conflict in Ukraine, Orban said …

New York, US | Xinhua |  Botswana should diversify its economy to reduce its heavy dependence on diamonds, President Mokgweetsi Masisi on Thursday told world leaders attending the general debate of the 77th session of the UN General Assembly. Botswana is facing “an uphill battle” to attract investors to diversify …

Jinja, Uganda | THE INDEPENDENT | The first deputy Prime Minister Rebecca Kadaga has stressed that leaders fighting against the Nyege Nyege festival to start on Thursday at the Itanda falls in Butagaya sub county, Jinja district want to economically sabotage Busoga sub region. While representing President Yoweri Kaguta Museveni at …

Kampala, Uganda | THE INDEPENDENT | The banking industry has defended its changing mode of operation which sections of the public describe as less friendly, saying they have learnt from the effects of global shocks on the businesses and economies generally. In recent times, Bank of Uganda has compelled commercial banks …