Economy - 256trends.com

03
Jun

Economy

Government allocates Shs 800m to develop Aruu Falls

Nkunda Ricky / 1 year
0
3 min read

The government has allocated shs 800 million to facilitate the development of Aruu Falls, an enchanting tourism site located in Angagura Sub County, Pader district. The State Minister of Tourism, Martin Mugarira Bahinduuka, announced the allocation, emphasizing that the funds will support various infrastructure projects aimed at enhancing visitor experiences and promoting the site’s tourism […]

22
May

Economy

Online Banking Scams on the Rise: Stay One Step Ahead with These Safety Tips

Sherry Karungi / 1 year
0
5 min read

Nowadays, practically all banking can be done online. Why not? Accessing it is quicker, simpler, and faster. Unfortunately, there is a large risk linked to internet banking which is online scamming. With the ever-growing popularity of online banking, the risk of falling victim to online scams has also increased. Scammers have become more sophisticated in […]

18
May

Economy

Government of Uganda to Challenge Interim Orders Exempting Taxes on Gold Exports, Attorney General Announces

Cherop Amarie / 1 year
0
4 min read

The Attorney General on Tuesday 16th May 2023 announced that the government will challenge the interim orders exempting payment of taxes on gold exports, following pressure from Parliament. The Ministry of Energy and Mineral Development had issued a waiver reducing the taxes on gold exports from Shs616 billion to Shs43 billion, which raised concerns among […]

17
May

Economy

Boosting Market Vendor’s Financial Inclusion: The Government’s launches Katale Loan Product

Sherry Karungi / 1 year
0
3 min read

In order to protect market vendors from dishonest moneylenders, Government of Uganda has introduced a new loan scheme called the “Katale Loan product”, that will allow the market vendors to borrow money at low interest rates of only 3%, which will be done through the Microfinance Support Centre (MSC). The Katale Loan product will enhance […]

16
May

Economy

More Oil Discovery Expected as Uganda Earns Shs7.4bn from 2nd Licensing Round

Nkunda Ricky / 1 year
0
3 min read

The Government of Uganda has earned $2 million from the second oil licensing round in the Turaco Block. The Production Sharing Agreement was issued to M/S Armour Energy Uganda (SMC) Ltd, a subsidiary of DRG Global on Friday 12th May 2023. The Energy Minister, Ruth Nankabirwa, stated that the exploration license was awarded according to […]

16
May

Economy

Uganda seeks $1.8 billion in loans for construction of East African Crude Oil Pipeline

Cherop Amarie / 1 year
0
4 min read

Uganda is considering borrowing $1.8 billion from global financial institutions to fund the construction of the East African Crude Oil Pipeline (EACOP). The total cost of the project is estimated to be between $3.5 billion and $4 billion, and the country lacks the necessary funds in its coffers, hence the need for borrowing. The Minister […]

15
May

Economy

Promoting Investment and Collaboration: African American Development Partners Meet with Ugandan Officials to Unlock Opportunities in Karamoja

Amanda Bae / 1 year
0
3 min read

A meeting between Gen. Salim Saleh, the Chief Coordinator of Operation Wealth Creation (OWC), African American Development Partners, Ambassador Abbey Walusimbi (Senior Presidential Advisor on Diaspora Affairs), local business leaders, and other officials in Napak State, Karamoja. Gen. Saleh mentioned that President Museveni assigned him the responsibility of promoting trade and investment in Karamoja because […]

12
May

Economy

Government has revised the 2023/2024 Financial Year Budget to Shs52 Trillion From Shs51 Trillion

Nkunda Ricky / 1 year
0
3 min read

The Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi, has tabled the Supplementary Appropriation (No. 4) Bill, 2023/ 2024 for first reading amidst concerns from the Opposition about the utilizationof the previous requests to increase budget from Shs51 trillion to Shs52 trillion. Government has revised financial year budget to […]

12
May

Economy

Ministry of Agriculture, Animal Industry, and Fisheries Prioritizes Agro-Industrialization to Boost Agricultural Production and Value-Addition

Sherry Karungi / 1 year
0
2 min read

According to the Uganda Bureau of Statistics (UBOS), agriculture contributed roughly 24.1% of the country’s GDP and 33% of its export revenue in the most recent fiscal year. As government strives to turn agriculture into a viable commercial sector for farmers, one of the key agendas is to transform agricultural raw materials into higher-value products […]

10
May

Economy

Uganda emerges the best in creating a favorable trade environment among the East African countries

Sherry Karungi / 1 year
0
2 min read

Uganda emerged as the best in creating a favorable trade enabling environment among the East African nations, according to the Africa Trade Index of Standard Bank of South Africa, usually known as Stanbic in other countries. Uganda outperformed Tanzania and Kenya in the index, moving up from sixth to fourth as a result of its […]

Uganda Launches Groundbreaking Partnership...

NIRA Implements Iris Scans...

Government And Stakeholders Launch...

EACOP Project Progresses with...

URA Targets UGX 31.98...

Uganda’s Coffee Export Surge:...

Government allocates Shs 800m to develop Aruu Falls

Online Banking Scams on the Rise: Stay One Step Ahead with These Safety Tips

Government of Uganda to Challenge Interim Orders Exempting Taxes on Gold Exports, Attorney General Announces

Boosting Market Vendor’s Financial Inclusion: The Government’s launches Katale Loan Product

More Oil Discovery Expected as Uganda Earns Shs7.4bn from 2nd Licensing Round

Uganda seeks $1.8 billion in loans for construction of East African Crude Oil Pipeline

Promoting Investment and Collaboration: African American Development Partners Meet with Ugandan Officials to Unlock Opportunities in Karamoja

Government has revised the 2023/2024 Financial Year Budget to Shs52 Trillion From Shs51 Trillion

Ministry of Agriculture, Animal Industry, and Fisheries Prioritizes Agro-Industrialization to Boost Agricultural Production and Value-Addition

Uganda emerges the best in creating a favorable trade environment among the East African countries

URA Launches Tax Service Center in.

Nabakooba Launches GROW Programme to Empower.

Uganda and Oman: Paving the Way.

Uganda Government Launches Initiative to Formalize.

Uganda Launches Groundbreaking Partnership.

NIRA Implements Iris Scans.

Government And Stakeholders Launch.