Tag Archives: economy

Harare, Zimbabwe | Xinhua | Zimbabweans on Monday marked the Anti-Sanctions Day with demonstrations around the country to urge the United States of America to remove sanctions it imposed on the southern African country about two decades ago. The Anti-sanctions Day was set aside by the Southern African Development Community (SADC) …

Abuja, Nigeria | Xinhua | Nigerian President Muhammadu Buhari on Monday launched the eNaira, the country’s central bank digital currency (CBDC), becoming the first African nation to introduce an official digital currency. With the launch of the eNaira in Abuja, Buhari noted Nigeria is also one of the earliest in the …

Kampala, Uganda | THE INDEPENDENT | Uganda’s total debt stock grew to 67.4 trillion Shillings by the end of the financial year 2020/21 in June, according to the Bank of Uganda. This shows a debt to GDP ratio of 45.5 percent, in contrast to earlier estimates of almost 50 percent, which …

Kampala, Uganda | THE INDEPENDENT | Fuel prices in Kampala have hit a new high, with a litre of petrol going for as high as 4,450 Shillings while diesel was quoted at 3,999 Shillings at some stations on Monday. This is an increase by an average of 300 Shillings over the …

Washington, U.S. | Xinhua | The International Monetary Fund (IMF) on Tuesday projected that the global economy would grow by 5.9 percent in 2021, down by 0.1 percentage points from July’s forecast, according to the latest World Economic Outlook. “The global recovery continues but momentum has weakened, hobbled by the pandemic,” …

United Nations | Xinhua | UN Secretary-General Antonio Guterres on Monday highlighted three areas for immediate action to launch a recovery from COVID-19 that benefits all, including the most fragile states. First, he called for measures to mitigate the debt crisis in many countries. While investments must be scaled up and …

  London, UK |  Xinhua |  British Prime Minister Boris Johnson on Wednesday vowed to change the direction of the British economy, shifting away from its reliance on cheap imported labor, as he shrugged off the ongoing fuel, food and industry crises as “merely a function of growth and economic …

Nairobi, Kenya | Xinhua | Sub-Saharan Africa’s economy is expected to expand by 3.3 percent in 2021 after a contraction of 2 percent in 2020, the World Bank said on Wednesday. According to analysis in the Pulse, the World Bank’s twice-yearly economic update for the region, the economic recovery will …

Kampala, Uganda | THE INDEPENDENT | How does it matter that the tax on an individual’s contributions to the National Social Security Fund is deferred to the time of withdrawal of the benefits, as had earlier been proposed by the NSSF? The media reports that the government plans to tax the …

Kampala, Uganda | THE INDEPENDENT | The Private Sector Foundation Uganda (PSFU) has called on Parliament to align national policies to the National Planning Framework that is premised on the Vision 2040, annual budget and Ministerial Policy statements. According to the PSFU Executive Director Francis Kisirinya, the business community invests based on …