Continent to fund own oil and gas projects in wake of Western financial institutions’ hesitancy ANALYSIS | RONALD MUSOKE | The African Petroleum Producers’ Organisation (APPO), an association of African petroleum producing countries, together with the African Export-Import Bank (Afreximbank) have zeroed-in on Nigeria’s federal capital, Abuja, to host the headquarters …
Read More »Finance ministry on the spot over equity in bailing out companies
Kampala, Uganda | THE INDEPENDENT | Legislators on the Committee on Commissions, Statutory Authorities and State Enterprises have tasked the finance ministry to present documentation on the criteria used in granting bailouts to companies in financial crises. According to the committee chairperson, Medard Sseggona, companies belonging to foreign investors have mostly …
Read More »Uganda says geopolitical tensions, climate change key risk factors to revenue collection
KAMPALA, Uganda | Xinhua | The Ugandan Ministry of Finance, Planning and Economic Development said on Thursday that ongoing geopolitical tensions, tightening global financial conditions, and climate change are key risk factors to the country’s revenue collection. The ministry, in its Fiscal Risk Statement for the financial year 2024/2025, which …
Read More »Likely impacts of major tax measures FY 2024/2025
Kampala, Uganda | THE INDEPENDENT | The Ministry of Finance, Planning and Economic Development has issued a raft of measures it plans to use to raise more taxes next financial year, if approved by parliament. The proposals in the new tax amendment bills are already raising fears among the public that …
Read More »Experts validate guidelines for mainstreaming climate change finance in Uganda
Kampala, Uganda | THE INDEPENDENT | Financial sector experts have validated draft guidelines requiring the industry to integrate climate finance into their operations to enable Uganda to mitigate its vulnerability to human-induced climate change impacts and risks by 2030. The guidelines illustrate steps for mainstreaming climate change in the financial sector …
Read More »Scaling up the World Bank’s development finance
Country vulnerability indices should be multidimensional, adaptable, and emphasise challenges COMMENT | PATRICK GUILLAUMONT | Last October, at the Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund in Marrakesh, member countries emphasised the urgency of scaling up development finance. In recent years, an extraordinary confluence of …
Read More »Budget committee tasks finance officials on wastage
Kampala, Uganda | THE INDEPENDENT | Members of Parliament sitting on the Budget Committee have asked government to consider non-taxed areas and those with revenue leakages, as part of its sources of income. According to the MPs, these areas would bridge the budgetary gaps that have kept several key priorities unfunded …
Read More »Govt to spend Sh23 trillion on debt repayment in 2024/5
Kampala, Uganda | PWATCH-UG| The Ministry of Finance has revealed that the Government will spend up to UGX 24.9 trillion on servicing Uganda’s public debt. This comes months after the Bank of Uganda reported that Uganda’s public debt as of August 2023 stood at UGX 88.807 trillion. The August debt …
Read More »An assertive Africa pushes for climate finance at COP28
As the globe gathers for COP28’s first-ever Global Stocktake, Africa demands that the world’s biggest polluters to fund the fallout of their actions. SPECIAL REPORT | BIRD AGENCY | African nations are intensifying their push for substantial climate finance from the world’s biggest polluters as the 28th edition of the …
Read More »Afreximbank honored with “Sustainable Deal of the Year” Award
Kampala, Uganda | THE INDEPENDENT | African Export-Import Bank has clinched the prestigious “Sustainable Deal of the Year” award for its groundbreaking efforts in establishing the Liquidity and Sustainability Facility (LSF). This recognition, presented by Uxolo Global 2023: Development and Impact Finance and co-hosted by TXF, celebrates Afreximbank’s role in enhancing …
Read More »