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Tag Archives: finance

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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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Cash transfer firms ignore BOU licenses

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has accused financial technology companies, and fintechs, of refusing to apply for licenses. BOU started implementing the regulatory framework for fintechs last year and started implementing the National Payments Systems Act which provides for the regulation of the small financial …

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Finance ministry connived with district leaders on surplus funds

Kampala, Uganda | THE INDEPENDENT | Legislators on a House committee have accused Nakasongola District leaders of conniving with officials from the finance ministry of inflating budgets, thereby causing funds to be returned to the Consolidated Fund. The district leaders were appearing before the Public Accounts Committee- Local Government on Thursday, …

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