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The European Union Delegation in Uganda is providing consular support to nationals of its member countries to assist them to return home, should they wish to do so. CEO East Africa has however learned that the EU mission to Uganda, working with its different member country embassies, is only assisting in coordinating the flight(s)- but is not footing the bill. Those who wish to go back home will foot their own bills home. It is also understood that the EU delegation is negotiating with the government of Uganda for special flight access and access for its citizens to Entebbe International…
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By Emily Gakiza and Timothy J. Mutungi COVID-19’s potential economic danger is much stronger than its health risk to the public. China is the world’s largest exporter and is responsible for a third of global manufacturing, so China’s problem is everyone’s problem. Is COVID-19 a force majeure event? Companies may be considering whether the COVID-19 outbreak constitutes a force majeure event such that a party is excused from its contractual obligations. Most standard commercial contracts usually include force majeure clauses that cater for events such as war, terrorism, earthquakes, hurricanes, acts of government, plagues or epidemics. Where the term epidemic,…
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Sheraton Kampala Hotel one of Kampala’s top hotels has sent down most of its staff on paid leave as Covid-19 related restrictions have severely diminished business at the hotel. In an interview with CEO East Africa, the hotel’s General Manager, Mr. Jean Philippe Bittencourt, said that the hotel is mainly catering to “guests that could not leave the country” as well as a “few residents in our apartments.” “We are generally operating at only at less than 3 % (occupancy rate),” he said. “As far as bookings are concerned, of course, there is nothing coming through and April is expected…
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As the knock-on effects of the deadly COVID-19 begin to bite deep, the Ruparelia Group is closing down its two flagship hotels- Speke Resort and Conference Centre, Munyonyo Commonwealth Resort effective tomorrow, March 27th 2020. The 2 lake-side hotels, sit side by side on 90-acres by Lake Victoria and combined, do consist of 477 rooms, 20 conference rooms, 3 ballrooms and several outdoor facilities that can host up to 5,000 guests at ago. In an interview with CEO East Africa, Dr. Sudhir Ruparelia, the founder and Chairman of the Group that is also the largest hotel chain in Uganda, said…
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Although Uganda had as of March 15, 2020, not yet registered a single case of the deadly COVID-19 top five Kampala hotels had registered a loss of an estimated USD 2,089,129 in canceled bookings alone due to global travel restrictions and anxieties! With 9 cases confirmed todate in Uganda, the banning of political, social and religious gatherings as well as a total lockdown of all our borders to all sorts of travel- by land, air and sea and most Ugandans being encouraged to stay home, the damage to the tourism sector that is Uganda’s No.1 foreign exchange earner is unfathomable….
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A day after Uganda confirmed eight new COVID-19 cases, bringing the total confirmed cases to nine, President Yoweri Kaguta Museveni has assured Ugandans that the situation is still manageable if only the country followed instructions issued by the ministry on how to manage the deadly virus. In his third national address, in seven days and the second one since Uganda confirmed the landfall of the deadly disease, President Museveni warned businessmen, who are taking advantage of the desperate situation to hike prices, that their licenses will be canceled. “Crooks are hiking prices of food. I want to warn those people,…
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Dr. Jane Ruth Aceng, the Ugandan Minister of Health, has appointed a number of prominent business leaders to spearhead a private sector response against the Coronavirus Disease (COVID-19). Details of their terms of reference are not yet clear, but the leaders who have been chosen to reflect the respective industries where they work, we understand are supposed to among others help coordinate resource mobilisation and awareness and sharing of information amongst other roles. The leaders are Barbara Mulwana (Chairman, UMA), Aga Sekalala (Ugachic), Robert Kabushenga (Vision Group) and Daniel Kalinaki (Nation Media Group). The others are Ramathan Ggoobi (Makerere University…
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First of all, I would like to thank you and your cabinet- for the courageous leadership thus far- especially the decisions announced on March 18th 2020 which among others include the decision to temporarily disperse areas of population concentrations such as schools; religious, political and social gatherings, as well as travel restrictions on certain high risk countries. I do agree with you, that much as this may hurt the economy temporarily, it is necessary to shield the country from much bigger harm- should, God forbid Corona land in the country and, in your own words: “find plenty of dry grass…
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A day after the ministry of finance warned that COVID-19 related complications could borrowers from trade, tourism, transportation, and construction sectors experience difficulties in repayments, thus worsening banking industry non-performing loans from the current 4.7% to 5.9%, today, the central bank has weighed in with a promise to prop up banks with liquidity support amongst many other measures, should they require it. He, however, did not say where the central bank would be intervening to cut interest rates. In a statement released today, March 20th, 2020 by Prof. Emmanuel Tumusiime Mutebile, the Central Bank Governor, he said that although Uganda…
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Today, the government of Uganda released its first estimates of how deep COVID-19 could hurt Uganda’s economy. The figures released by Uganda’s Finance Minister, Matia Kasaija are based on two scenarios- namely; OPTIMISTIC SCENARIO: That the corona virus does not enter Uganda or that it is quickly contained hence avoiding widespread infections within the population. WORST-CASE SCENARIO: The “virus enters Uganda and spreads rapidly (as experienced in some African countries such as Egypt, South Africa and Algeria), in which case, the impact on the economy, the budget and the population would be significantly higher. Here below are some of the…
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