Global climate finance conference leaves bitter taste for Africa ANALYSIS | RONALD MUSOKE | “When the world came to Baku, people doubted that Azerbaijan could deliver. They doubted that everyone could agree. They were wrong on both counts.” Those were the parting shots of Mukhtar Babayev, the COP29 president, after a …
Read More »Finance Ministry applauds impact of DTS as URA, BAT strike deal against illicit trade
Kampala, Uganda | THE INDEPENDENT | The Government of Uganda has reaffirmed its commitment to the Digital Tax Stamps (DTS) program, emphasizing its role in strengthening tax compliance and market integrity. Isaac Arinaitwe, the Ministry of Finance’s Principal Economist, explained that the DTS program, launched in 2019, has been …
Read More »Ministry of Finance releases shs15.99 trillion for 2nd quarter
KAMPALA, UGANDA | THE INDEPENDENT | The Ministry of Finance, Planning, and Economic Development has released 15.99 trillion for the second quarter. The announcement was made on Tuesday by the Permanent Secretary of the Ministry of Finance, Ramathan Ggoobi, who is also the secretary to the Treasury (PSST). According to the …
Read More »Grant of tax waiver to companies queried
Kampala, Uganda | THE INDEPENDENT | Legislators on the Committee of Finance have questioned the manner and criteria the Uganda Revenue Authority (URA)is using to extend tax waivers to companies and individuals. While appearing before the committee, the State Minister for Finance (General Duties), Henry Musasizi said the tax waivers will …
Read More »Africa Energy Bank set to finance fossil fuel projects
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 …
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