Challenges affecting businesses and the economy today include but not limited to; weak policy implementation, dampened levels of demand in the economy, high cost of credit and unprogressive tax policies.This is in addition to high cost of energy, poor …
Parliament recently passed the 2021 Tax Amendment Bills which introduced a number of changes that will impact on both businesses and individuals. The tax changes are geared towards increasing tax revenue, as the government grapples with sourcing adequa…
A plan by government to take over all public markets in the capital, Kampala, has stalled following leadership wrangles and compensation-related issues.Daily Monitor has established that whereas the take over has been smooth in some of the public marke…
A Ugandan businessman has unveiled a video-sharing social networking Application intended to inspire youth and market the east African nation to the outside world with a view of boosting the tourism industry.Dubbed HAMZ, the App is for making a variety…
Uganda’s journey to commercial oil production has started with the three landmark agreements signed by Ugandan and Tanzanian governments as well as Total, a French oil company and China National Offshore Oil Corporation on April 11. These pave way for …
The government is back to the drawing board to identify core investors who can set up an industrial park at Mazigo Village, Bukakkata Sub-county in Masaka District.This comes after they reportedly failed to agree with the Chinese investors who had earl…
Gold exporters will be required to pay $200 or Shs740,000 for each exported kilogramme of the precious metal, according to the Mining (Amendment) Bill 2021.The Bill, which has already been passed by Cabinet, is still before Parliament awaiting delibera…
Bank of Uganda has said the economy will remain subdued even as there has been gradual recovery in the first quarter of 2021.Speaking during the release of the April Monetary Policy report in Kampala yesterday, Bank of Uganda said the Central Bank Rate…
Tea farmers and leaders in Kigezi are advocating the establishment of a tea regulatory authority to ensure quality production and better prices, especially in the international market.The chairperson of south-western Uganda tea farmers and tea nursery …
Coffee exports have defied Covid-19 market disruptions for a straight second month recording growth in value and volume.According to data from Uganda Coffee Development Authority, coffee exports between March 2020 and February 2021 grossed at 5.56 mill…
Financial institutions have restructured nearly half of their loan portfolio, signaling the devastating effect of Covid-19 on the economy.Dr Adam Mugume, the Bank of Uganda director for research told Daily Monitor that banks by January had restructured…
That Kenya is a lifeline for the dairy industry in Uganda is not in doubt.Therefore, when Kenya slapped the Mbarara based Lato Milk with an import ban early in the year, the effects were devastating for farmers in the neighbouring state.After several c…
Uganda’s decision to build a refinery has been discouraged on the basis that the facility is not only an expensive venture but also lowers the value of the East African Crude Oil Pipeline (EACOP).This is according to a report by UK-based think tank Cli…