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From your perspective, how was the economy affected by Covid-19? The main challenges stem from the various lockdown measures. There was no movement of goods during the lockdown. Mandatory testing of drivers at the border crossings slowed down movements of trucks. Malls and arcades were closed, so goods were not moving or being sold. There was an overall shift downward in demand cycles within the Fast-Moving Consumer Goods (FMCG) space apart from food. Many businesses suffered from cash flow issues. The biggest employer in Uganda is the informal sector which was hurt by the lockdown. This limited disposable income and…
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Retail, which, by definition, is made up of businesses that sell to the final consumer, is an important part of Uganda’s economy. It contributes an average of 18% to the country’s GDP and employs about 16% of its labour force and could be the largest employment source. But even before Covid-19 struck, in March 2020, reaching its peak around June 2020, the largely brick-and-mortar sector was already facing its unique market imposed, regulatory and technology challenges. The state-imposed nationwide lockdowns and the resultant depressed economy, and paranoia for open and crowded marketplaces, only made sector challenges worse. As the country…
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The Innovation Village, in partnership with Stanbic Bank and RocketHealth has launched a thought leadership report on the ‘Future of Retail in Uganda. The report documents the impact of the lockdown measures on businesses during the COVID-19 pandemic, with a focus on the trends redefining the sector and opportunity spaces for the retail ecosystem to ensure longer term sustainable economic development and business resilience. While launching the report at the Golden Tulip Hotel in Kampala on Thursday, CK Japheth, The Innovation Village Team Lead, noted that the retail sector in Uganda plays an important role in Uganda contributing an…
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