Sunday 25 June 2017
(AFP (eng) 06/12/17)
German Chancellor Angela Merkel will on Monday meet African leaders in Berlin on initiatives aiming to reduce the poverty and conflict driving a mass migrant influx to Europe. The idea is to team up African nations willing to reform with private investors who would bring business and jobs to a continent where instability or graft often scare off foreign companies. Merkel is hosting the initiative as part of Germany's presidency of the Group of 20 powerful economies, whose leaders meet in the northern port of Hamburg a month later. Invited to Berlin are Egyptian President Abdel Fattah al-Sisi and the leaders of Ghana, Ivory Coast...
(Daily Monitor 06/07/17)
The Ministry of Tourism, Wildlife and Antiquities is one of Uganda's fast-rising ministries with figures to show that it contributed close to Shs7.3 billion to Gross Domestic Product (GDP) in the financial year 2015/2016. Tourism contributes 10 per cent of GDP, accodring to latest statistics from the tourism ministry. "In our planning, as government, one of our primary sectors, and specifically sectors where the growth of the economy starts from say a york of an egg, include agriculture, manufacturing, oil and gas, tourism and Information communication technology . Tourism as a sector is shaping the future of nations," Professor Ephraim Kamuntu, the tourism minister says.
(The East African 06/06/17)
Uganda's headline inflation rose to a 7.2 per cent high year-on-year from 6.8 per cent in April, new data shows. The Uganda Bureau of Statistics (UBoS) attributes this to a spike in the prices of some food items including fruits and vegetables. The prices of milk, sugar, maize flour, matooke remained high in May due to the effects of a lingering dry spell and other vagaries of nature. The latest UBoS figures come as the country awaits the formal presentation...
(The Observer 06/06/17)
The much awaited National Fertilizer Policy 2016 has been launched - paving way for its operationalization. The policy, which brings together all fragmented regulations into a single and comprehensive framework on fertilizers, diversifies the responsibility for fertilizer importation and delivery. The policy is the handiwork of the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF) and the Economic Policy Research Centre (EPRC). Launching the policy at an agricultural policy dialogue organized by EPRC in Kampala, the director of Aquatic Science...
(New Vision 06/06/17)
His life has changed for the better. When darkness comes to Denis Baru, a resident of Zoka village in Adjumani district in northern Uganda, he turns to the power of the sun trapped by the solar panel during the day to switch on his eight lights. He has also conquered boredom as the solar also powers his television set. “I do not curse when the night comes,” he said, adding that the light helps his children to do homework and...
(The Observer 06/02/17)
After months of poring over budgets of ministries and government departments, parliament on Wednesday passed the country's Shs 29 trillion budget, with huge cuts from each sector. Uganda Revenue Authority (URA) is projected to collect Shs 16.6 trillion in domestic revenue, with the rest of the money coming from borrowing and donations. The ministry of Works and Transport got the lion's share of Shs 4.6 trillion; Energy, Shs 2.3 trillion; Education, Shs 2.34 trillion; Health Shs 1.8 trillion, and Shs...
(The Observer 06/01/17)
Parliament yesterday, Wednesday passed a Shs 29-trillion budget for the financial year 2017/2018 after a prolonged debate. The House presided over by the deputy speaker Jacob Oulanyah managed to beat the deadline set by the Public Finance Act which requires legislators to have the budget approved by May 31. The new budget will see expenditures for the next financial increase by Shs 3 trillion from the Shs 26 trillion allocated in 2016/2017. The opposition had bitterly opposed the budgetary proposals...
(Reuters (Eng) 05/26/17)
Uganda and Tanzania signed an agreement on their proposed $3.55 billion crude export pipeline on Friday, a key milestone for the project which is expected to start pumping Ugandan oil to international markets in three years. An official at Uganda's Ministry of Energy told Reuters the agreement covered terms on tax incentives for the project, implementation timelines, the size of the pipeline and local content levels. Adewale Fayemi, the manager for Uganda at Total, said the project will become "the...
(Xinhuanet 05/24/17)
Entrepreneurs from East Africa on Tuesday called for increased investments in the power generation so as to develop a strong value-added manufacturing base in the region. Delegates participating in the second high-level East African Manufacturing Business Summit and Exhibition (EAMBS) held in Rwanda's capital city Kigali, said that heavy investments by both private and the public in the energy sector will enhance the production capacity of manufacturing industries in the region. Rwanda hosts the forum from May 23 to 25...
(Daily Monitor 05/23/17)
Kampala — Uganda is to receive credit worth $240m (about Shs870b) from the World Bank after the financial institution officially lifted suspension of lending to Uganda. The suspension was done last year due to slow pace in absorption of borrowed funds by the government. Following the lifting of the suspension, the World Bank says Uganda will receive $40 million (about Shs145b is for the civil society to support the prevention of violence against women and girls. The second credit line...
(APA 05/23/17)
The world bank has lifted a suspension on lending to Uganda imposed 10 months back, reports said on Tuesday. The bank imposed the suspension in 2016 citing failure to kick start projects in time, poor absorptive capacity, corruption, mismanagement of projects, inability to do feasibility, social and environmental studies as well as human rights abuses in project areas among other reasons. However in a press conference with Uganda’s ministry of Finance officials in Kampala World Bank Country Manager, Christina Malmberg Calvo, said, two new projects will be presented to to the Bank's board for approval starting June. One of the project is aimed at supporting government and civil society effort in combating violence against
(Daily Monitor 05/23/17)
Kampala — Kampala Capital City Authority (KCCA) has told court that it has no financial capacity to pay more than Shs30 billion to its 1,045 former employees whose contract was terminated five years ago. The city authority officials have instead asked the central government to come to their rescue. "My lord, we seek for a short adjournment to meet with the Attorney General and request him to tell the central government to pay the former workers because KCCA currently has...
(Reuters (Eng) 05/22/17)
Countries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people. If they do that, there is no reason why the region cannot have the strong growth needed to meet the aspirations of a young and growing population. That, at least, is the three-pillared prescription from the International Monetary Fund as expressed by one of its top Africa researchers, Celine Allard, in an official IMF blog post and podcast. Allard co-authored...
(Reuters (Eng) 05/19/17)
When rich countries wrote off billions of dollars of African debt in 2005, they hoped governments would think twice about borrowing again in costly foreign currencies. Over a decade later, most sub-Saharan African countries still rely on U.S. dollar-denominated debt to finance their economies. Some investors say this is sowing the seeds of future debt crises if local currencies devalue and make dollar debt repayments more expensive. Aside from South Africa and Nigeria, governments have not yet done enough to...
(Bloomberg 05/18/17)
Uganda, which wants to start building part of a multi-billion-dollar rail line to Kenya, must wait for its neighbor to decide on plans for its portion of the track before the project’s main funder makes money available, the country’s finance minister said. Export-Import Bank of China will arrange financing for Uganda only when it’s sure that Kenya “is willing and able to extend its railway to the border, so that they don’t fund a white elephant,” Finance Minister Matia Kasaija...
(Bloomberg 05/18/17)
Steinhoff International Holdings NV plans to list its African assets separately as the acquisitive retailer seeks a new prize for shareholders following this year’s failed merger talks with Shoprite Holdings Ltd. The company said Wednesday it will seek to list businesses including clothing retailer Pepkor and furniture chain JD Group Ltd. on the Johannesburg Stock Exchange, about 18 months after moving its primary listing to Frankfurt from the South African commercial hub. The new business could be worth as much...
(Bloomberg 05/16/17)
When the impoverished West African nation of Niger imposed a ban on donkey exports last year, a small community of traders just over the border in Nigeria was devastated. “Before the ban, you could see thousands of donkeys here,” said Mohammed Sani, a 45-year-old trader in the Nigerian town of Jibiya, as he wiped the sweat off his brow. “Now look at them: there’s no more than 50, crippling the business.” Donkeys are being slaughtered at an alarming pace to...
(Daily Monitor 05/11/17)
Uganda's electricity exports to Kenya grew 300 per cent in the four months to April as drought cut the neighbouring country's local generation of hydro-electric power by 347 million kilowatt hours. Kenya imported 92.3 million kilowatt hours (kWh) from Uganda in the four months compared to 13.66 million units in the same period last year - marking a 302 per cent growth, according to official data. This is a departure from last year when Kenya cut by half electricity imports...
(Voice of America 05/05/17)
As Africa grapples with a severe drought, and famine threatens millions of people, experts at the World Economic Forum on Africa this week in the South African city of Durban say food security needs to be a major part of discussions on advancing the continent economically. The annual World Economic Forum in Switzerland is usually a high-powered event, but at this week’s Africa meeting of the international organization, the continent’s big players are welcoming the humble farmer, now known as...
(New Vision 05/04/17)
The problem, noted Museveni, has been fragmented vision, pointing out the example of African governments that at one point persecuted the private sector. The President was on Wednesday speaking as the chief panelist on the subject “Agenda 2063: Infrastructure Update” at the World Economic Forum on Africa in Durban, South Africa. The forum that started today (Wednesday) will run until Friday. “The political will has always been there. Many African governments have wanted to succeed since the 1960s. The problem has been ideological meandering, where you get one item and make it most important.

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