Tag Archives: economy

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 …

Kampala, Uganda | THE INDEPENDENT | Parliament has asked government to develop mechanisms that will ensure the country returns to a low risk of debt distress. During plenary on Tuesday, 30 August 2022, Parliament approved two reports of the Committee on National Economy on the State of Indebtedness, Grants and Guarantees …

Kampala, Uganda | THE INDEPENDENT | MPs have passed the Excise Duty (Amendment) Bill, 2022 scrapping taxes on sugar confectionaries, sweets, gums, and chocolates. The bill was earlier passed in March 2022 but returned to Parliament for reconsideration by President Yoweri Museveni. The Parliament Committee on Finance, Planning and Economic Development …

Kampala, Uganda | THE INDEPENDENT | Government has been urged to develop a clear equitable allocation formula for funds under the Parish Development Model (PDM) that takes into consideration different demographic, geographical and socio-economic dynamics. According to Parliament’s Committee on Public Service and Local Government, the criteria for allocation of the funds …

Kampala, Uganda | THE INDEPENDENT | Experts have faulted the government for using statistics that do not give the real picture of the state of affairs to define the performance of the economy. An example is the Debt-to-GDP ratio that the government uses to determine the safety and strength of the …

Kampala, Uganda | THE INDEPENDENT | As the country marks 50 years since the expulsion of Asians from Uganda by former President Idi Amin Dada, two distinguished scholars have said there is going to be another expulsion if things continue with the trajectory they are taking. Speaking at a public lecture …