Tag Archives: economy

Geneva, Switzerland | Xinhua | United Nations Secretary-General Antonio Guterres said on Monday that the possibility of a complete economic collapse in Afghanistan is “serious.” Guterres was in Geneva on Monday to convene a high-level ministerial meeting on the humanitarian situation in Afghanistan. He highlighted the acute and urgent need for …

Kampala, Uganda | THE INDEPENDENT | The recent allocation of special drawing rights by the International Monetary Fund to its members has triggered fears of misuse, since the resource had been described as free, and not a loan. Special Drawing Rights are an international reserve asset, created by the IMF to …

Kampala, Uganda | THE INDEPENDENT | Parliament has adopted a raft of recommendations to revive the economy currently battered by the Covid-19 pandemic, key among is implementation of a Tourism Development Levy. “The Committee proposes a levy of $10 to be charged on each ticket for every person who departs from Uganda …

Kampala, Uganda | THE INDEPENDENT | Stiff competition and high indebtedness have forced Uganda’s third largest telecom service company by subscriber base, Africell, to quit the country. The company say its services will stop on October 7, this year, according to a letter circulated to its employees, who will continue to …

A resilient agricultural system is critical for ensuring food and income security Kampala, Uganda | THE INDEPENDENT | Experts have stressed the significance of the agricultural sector and encouraged the Ugandan youths to seize opportunities to improve their life during the COVID-19 pandemic. “Agriculture is an important sector and there is …

Kampala, Uganda | THE INDEPENDENT | The government will no longer give what it is calling discretionary tax relief measures to sectors or enterprises in a financial crisis as has been the case, like under the current Covid-19 pandemic. The announcement comes as entrepreneurs continue to call on the government to …

Lusaka, Zambia | Xinhua | Newly-elected Zambian President Hakainde Hichilema has vowed to fix the economy with the appointment of a new finance minister, the only minister appointed so far. The Zambian leader on Aug. 27 appointed Situmbeko Musokotwane as the country’s new finance minister, with a call for him to …

Kampala, Uganda | THE INDEPENDENT | The confirmation on Monday by the South African based retailer Shoprite, that it was quitting Uganda and Madagascar, raises more questions about the ability of Uganda’s economy to sustain a global investor. The management of the Johannesburg listed retailer, said it was refocusing its resources …

Kampala, Uganda | THE INDEPENDENT | The Ministry of Health (MOH) has lifted the travel ban on travelers from India. Health Minister Dr Jane Ruth Aceng told a news conference on Friday that the country has now been placed under category 2, down from category 1 countries, implying that travellers …

Kampala, Uganda | Ronald Musoke | Ramathan Ggoobi, the new Permanent Secretary in the Ministry of Finance, Planning and Economic Development who also doubles as the Secretary to the Treasury has officially assumed office almost a month after his appointment. Patrick Ocailap, the Deputy Secretary to the Treasury who has been …