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Financial Markets Index: Uganda’s Ranking Elevates from Fifth to First in EAC

The managing director of Amalgamated Banks of South Africa Limited (ABSA), Mumba Kalifungwa, has said Uganda has progressively improved in the Africa Financial Markets Index, from its previous position of fifth in 2021 to first place in 2023 with a 62.8% score among the East African Region and placed in fourth position in Africa. The […]

Uganda Launches Third Oil Field Licensing Round to Boost Reserves and Economic Growth

Uganda’s Ministry of Energy initiates its third oil field licensing round to enhance reserves and stimulate economic growth, targeting the potential of the Albertine Graben. With 6.5 billion barrels of oil reserves, a significant portion economically recoverable, the push aligns with Uganda’s economic strategy. In a bid to bolster its oil reserves, Uganda’s Ministry of […]

6.8 billion Shillings Recovered from Kampala Tax Defaulters

The Uganda Revenue Authority (URA) has successfully collected an amount of sh6.8 billion in just one week following the enforcement of compliance with the Digital Tracking System (DTS) and the Electronic Fiscal Receipting and Invoicing Solution (EFRIS) in the Kampala Central Business District (CBD). Sandra Kaitare, the Assistant Commissioner of the Petroleum and Mining Division […]

Ministry Of Finance Disburses UGX 144.3 Bn for National Population Census Preparation

The Ministry of Finance and Economic Development has declared that a large amount of 144.3 billion Shillings will be provided for the National Population Census preparations. The Permanent Secretary and Secretary to the Treasury, Ramathan Goobi, disclosed during a press briefing on January 29, 2024, that the primary purpose of the funding is to purchase […]

Uganda Revenue Authority Promotes Tax Compliance and Road Safety in Transport Sector

The Uganda Revenue Authority, along with the Ministry of Works and Transport and the Uganda Police, is engaging with transporters to promote tax compliance and road safety. They emphasize the need for transporters to acquire Tax Identification Numbers (TINs) and pay advance income tax for vehicles. The initiative aims to improve tax collection and service […]

Uganda Aims for Investment Deals Totalling Sh3.036 trillion at the NAM Business Summit

The Private Sector Foundation of Uganda is poised to gain advantages from the East African Trade and Investment Summit, held alongside the 19th Non-Aligned Movement (NAM) Summit. Scheduled to take place at the Kampala Serena Hotel from January 15-18, 2024, under the theme “Unlocking East Africa’s Potential on the Global Stage.” The business community under […]

Source Of the Nile Women in Agribusiness to Share Experiences in NAM Summit.

The Non-Aligned Movement (NAM) summit in Uganda, scheduled for January 15th -20th, 2024, will include the Source of the Nile Women in Agribusiness Summit as a side event. Organized by the agriculture ministry, UN Women, and the NAM Secretariat, the session aims to showcase success stories of women in agribusiness, discuss policy needs, and inspire others.

World Bank-Funded Project to Offer Free Electricity Connections to One Million Poor Households in Uganda

The Ugandan government plans to provide free electricity connections to one million impoverished households as part of the Energy Access Scale-up Project (EASP). This was announced by Minearal and Energy Minister Hon. Ruth Nankabirwa during the Uganda Electricity Generation Company Limited (UEGCL) annual general meeting, the initiative is set to begin early next year with $638 million in funding from the World Bank.