Economy

The Secretary of the Treasury, Ramathan Ggoobi has said next year’s financial budget will focus on the production sectors. This is because these have higher economic returns to facilitate the country’s economic recovery. He further said that after several discussions, they resolved to give topmost priority to the vaccination of Ugandans against Covid-19. This will eventually speed up the process ...

A large number of tourists have canceled their trips to Uganda due to the delays at Entebbe International Airport. This move has caused losses for the tour operators who had already invested money to host tourists. Arriving air passengers have to take new Covid-19 tests before leaving the airport. The operators said this continues to frustrate the trust in certificates ...

The Uganda Alcohol Industry Association recently released a report indicating that illicit alcohol production is one of the country’s biggest tax leakages. The report showed that the production of illicit alcohol is one of those big tax leakages. Apparently, it costs the government huge sums of money in taxes. ‘’Tax leakage is driven by wide-scale under-declaration of production of spirits. ...

Experts have called on government to enact laws to reduce on profit repatriation by multinationals. The development follows the announcement of the retail store Shoprite exiting Uganda after 21 years of service. Some experts even said firms like Shoprite have no legacy or tangible investments to talk about. Francis Muhiire, an economist at Makerere University Business School (MUBS). He said ...

Uganda gaining middle Income Status as a country is something the President has been obsessed with for the past few years. In his numerous addresses, he promised Uganda will soon jump from the cluster of third world countries to the middle income status. However according to world Bank experts, this wait will go more than a decade further before Uganda ...