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The Deputy Governor, Bank of Uganda, Prof. Augustus Nuwagaba, has drawn attention to a key structural feature of Uganda’s recent gold export performance: while gold has become the country’s largest source of export receipts, it also appears to be associated with a large import invoice, resulting in a relatively modest net trade balance. Speaking at the Stanbic Bank Uganda Economic Forum at the Sheraton Kampala Hotel on Thursday, February 11th, 2026, Prof. Nuwagaba said Uganda earned approximately USD6.4 billion from gold exports, compared to approximately USD2.4 billion from coffee exports and about USD700 million from cocoa. He then noted that…
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By Bethuel Karanja From Washington to Beijing, the global economic weather is turning unpredictable. Trade rules that once anchored international commerce are fraying under the strain of protectionism, geopolitical rivalry and economic nationalism. For a small, open economy like Uganda’s deeply plugged into global commodity markets, capital flows and donor financing these global tremours are not abstract. They shape growth prospects, currency stability and fiscal choices at home. The world economy is slowing. Global growth is projected at just 2.7 percent in 2026, weighed down by weak investment and long-running structural constraints. The International Monetary Fund offers a more sanguine…
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Parliament’s Committee on Finance, Planning and Economic Development has pushed back against a proposal to waive UGX18.86 billion in tax arrears for Kampala-based engineering consultancy Newplan Limited, questioning both the justification for the relief and the company’s failure to remit statutory taxes despite involvement in lucrative national infrastructure projects. The tax waiver request, tabled yesterday, was presented by the Minister of State for Finance (General Duties), Henry Musasizi, who cited sustained financial distress, high indebtedness and the difficulty of recovering the taxes as grounds for remission under Section 43 of the Tax Procedures Code Act. The proposal covers outstanding Value…
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