Opening Of The Country Has Rejuvenated Businesses

Posted by: Suubi Anne in Economy February 5, 2022

Since the country officially opened on 24th January, business people have been giving positive remarks about it all.

Personal income has increased drastically for them because they can work trans night which wasn’t the case for two years due to curfew.

Ronald Muyanja, the head of trading at Stanbic Bank said; “Demand also picked up, leading to rises in employment and purchasing but inflationary pressures were evident, often linked to higher fuel costs.”

He says that the rising workloads encouraged companies to take on additional staff at the start of the year.

According to him, employment has now increased in two of the past three months. Around 7% of respondents expanded workforce numbers in January.

Muyanja also said Ugandan firms were optimistic in the 12-month outlook for activity, thanks to schools having reopened as well as positive expectations regarding the pandemic situation and new orders.

The opening of bars has also boosted roadside business. The nyama choma businesses as they are known were not as vibrant. The opening of bars has increased demand on their merchandise.

The country is steadily getting back on its feet with the economy getting back in place. In a few months or so, there will be even a greater change which will be evident enough for all to see.

In similar news earlier reportedly by NEWSLEXPOINT.com, the Uganda Police sent a stern warning to those violating Covid-19 standard operating procedures despite the night economy reopening.

The president opened the night economy including bars and night concerts officially after almost two years. This happened as a strategy to control the spread of the deadly coronavirus. Police spokesperson, Fred Enanga, said many tend to disregard SOPs after easing the lockdown.

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