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Tag Archives: economy

Local Film Industry gets huge boost

Kampala, Uganda | THE INDEPENDENT | The Government of Uganda through the Ministry of Gender, Labour and Social Development has partnered with the European Union (EU) and UNESCO in a joint project aimed at supporting the development of the local film industry. The project will create measures to provide a tax …

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Uganda’s mobile money transactions hits Shs 80trillion

  Kampala, Uganda | Isaac Khisa | Uganda’s mobile money transactions grew by 19.3% to Shs 79.8 trillion for the year ending June.30, according to Michael Atingi-Ego, deputy governor, Bank of Uganda. Atingi, who was speaking during the Uganda Bankers Association retreat at the Kampala Sheraton Hotel on Sept.22, said out …

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NSSF interest may dip to single digit

Kampala, Uganda | THE INDEPENDENT | The National Social Security Fund forecasts it will pay members less than 10 percent interest down from the double-digit interest rate that it has paid over the last several years after their operations were adversely affected by the COVID-19 pandemic. The final interest rate …

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Lockdown sparked leap in electronic banking transactions

Kampala, Uganda | THE INDEPENDENT | The financial sector recorded a big jump in electronic transactions over the last year boosted by the lockdown that was induced by the COVID-19 pandemic, according to sector players. The economy was largely shutdown in March with the government banning most activities like public …

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UN chief calls for political will for Sustainable Development Goals

United Nations | XINHUA | United Nations (UN) Secretary-General Antonio Guterres on Friday called for political will and bold action to achieve the Sustainable Development Goals (SDGs). Public appetite for transformative change is growing, he said in his opening remarks at the SDG Moment 2020. “But one critical ingredient is …

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High business collapse trailing Uganda’s economy

Kampala, Uganda | THE INDEPENDENT | Knowledge gaps and the high costs of doing business remain a major hindrance to Uganda’s economic growth as most business enterprises started in the country do not survive beyond their first birthday. Ronnie Mulongo, manager Private Sector Foundation Uganda (PSFU) says that some entrepreneurs lack …

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Shilling depreciates as economic activity picks

Kampala, Uganda | THE INDEPENDENT | The Uganda shilling has started losing its strength against the US Dollar in a reverse trend that had seen the local currency remain strong during and after the lockdown period. In a trend that surprised observers, the shilling held steady when diaspora remittances, offshore …

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EAC rolls out regional electronic cargo and driver tracking system

Kampala, Uganda | THE INDEPENDENT | The East Africa Community (EAC) secretariat and its partner states have unveiled a new mobile application to enable the issuance of the EAC COVID-19 digital certificates that are mutually recognised by the partner states. The app dubbed the Regional Electronic Cargo and Driver Tracking System …

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