Impact of Covid on the Ugandan economy

COVID-19 hurts NSSF earnings; management warns, last year’s double-digit interest rates may not be sustained

by Muhereza KyamuteteraThe Big StorySeptember 24, 2020September 24, 2020

Despite a 17 percent growth in revenues, the National Social Security Fund (NSSF) has warned, it is unlikely to pay members a double-digit interest rate due to the impact on…

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Billionaire, Sudhir Ruparelia tests negative for COVID-19; urges for strict observance of government guidelines on pandemic prevention

by CEO ReporterThe Big StorySeptember 22, 2020September 22, 2020

Billionaire founder and Chairman of the Ruparelia Group, Dr. Sudhir Ruparelia has urged Ugandans to continue strict observance of the government guidelines on COVID-19, saying that in the interim, this…

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Non-Performing Loans Jump to UGX 783billion – BOU

by URNFinanceThe Big StoryJuly 7, 2020July 8, 2020

The amount of money where borrowers have not made any payments for at least three months grew by 15 per cent to UGX783 billion between January and March 2020, the…

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World Bank approves UGX1.1 trillion loan to Uganda for COVID-19 economic recovery

by Muhereza KyamuteteraThe Big StoryJuly 1, 2020July 1, 2020

The World Bank Board of Directors, yesterday, June 29th 2020 approved a $300 million (UGX1.1 trillion) budget support loan request by Uganda to boost the “Government’s capacity to prevent, detect…

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COVID-19: Telecoms voice and mobile money revenue falls by 26 per cent and 34 per cent respectively

by Muhereza KyamuteteraICTThe Big StoryJune 10, 2020June 10, 2020

Reduced intra and foreign trade as well as travel restrictions imposed by government to contain the spread of the Covid-19 causing coronavirus has badly hit telecom companies in Uganda.According to…

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UN and Makerere report says 100,000 formal sector and 4,400,000 informal sector jobs to be lost to Covid-19

by Muhereza KyamuteteraThe Big StoryMay 22, 2020May 22, 2020

62.3 percent of Ugandan business are considering or have already started cutting jobs as a result of Covid-19, a trend that could render up to 100,000 Ugandans jobless in the…

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Covid-19: All measures to ease lockdown are dependent on the availability of gov’t issued masks; Museveni clarifies

by Muhereza KyamuteteraThe Big StoryMay 19, 2020May 19, 2020

The Uganda government has moved to ease down on a number of travel and business-opening restrictions, but President Museveni insists all these moves are dependent on the availability of government…

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SEVERAL UNANSWERED QUESTIONS IN URA’S COVID-19 TAX AMNESTIES: An open letter to the Minister of Finance and Commissioner General URA

by Muhereza KyamuteteraThought LeadershipApril 30, 2020April 30, 2020

The immediate implications of COVID-19 do not need to be recounted to an adult who is in control of their faculties. We have all been devastated in all kinds of…

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