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Parliament of Uganda, sitting on April 24th 2020, passed the Appropriation Bill 2020, approving UGX45.5 trillion budget for the next Financial Year- 2020/2021. This is a 12.3% increase from last year’s UGX40.5 trillion. This was after the finance Minister Matia Kasaija moved a motion for the House to constitute itself into a committee of supply to consider revised expenditure estimates for fiscal year 2018/19 and budgetary proposals for estimates of revenue and expenditure for FY 2020/2021. According to the Appropriation Bill, UGX11.9 trillion is allocated to recurrent expenditure, UGX18.076 trillion for Development expenditure and UGX5.494 trillion for statutory expenditure. 72.5%…
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Kampala, Uganda, April 13, 2020: As Uganda and the rest of the world confront the public health, financial and economic implications of the COVID-19 pandemic, Absa Bank Uganda is rolling out an extensive payment relief programme for eligible customers that have been directly or indirectly impacted. Under the programme, customers in sectors that have been directly or indirectly affected by the disruption presented by COVID-19 will be offered payment relief to ease their financial burden. “While we appreciate the measures put in place globally to curb the spread of this pandemic, we are also cognizant of the effects they have…
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Stanbic Bank Uganda has announced loan holiday packages for business and personal clients affected by the COVID-19 global pandemic. Stanbic Bank Uganda’s Chief Executive Anne Juuko said, “We understand that the situation has placed challenges in your day to day lives, disrupted livelihoods and your business operations. This is why we are providing relief measures to support you in the best way we can.” She added, “For our corporate clients, we are engaging them to understand their needs and find the appropriate solutions to ensure their business sustainability. In addition, our SME customers whose incomes have been impacted as a…
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“When you are faced by a prospect of famine, your first impulse should not be to go after the only planting seeds you have kept in your granary for the next planting season. That would be a strategically wrong move.” That is how Richard Byarugaba, the National Social Security Fund (NSSF) Managing Director, summarises the calls by some members of the public to be allowed to access part of their NSSF savings- to defend themselves against the potential negative impacts of Covid-19 on both the economy, especially their personal economy. Opposition stalwart, Dr. Kizza Besigye sparked off this debate about…
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