By Benard Mujuni The recent speech and address by H.E The President of the Republic of Uganda to the team of UN experts on COVID-19 vaccine access inequalities raises fundamental global issues that should be addressed by not only UN but also Western countries and the World. Africa suffered all kinds of horror before, during and post slavery era. There were no Conventions or binding treaties for reparation of these horrendous acts Post the League of Nations. Capitalism in its form and content is rude. It aggregates power to the rich and wealthy individuals; Vaccine Nationalism has been one of the worst forms of self-preservation…
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On 30th August (a Sunday), I begun to feel unwell with fever. I called into work on Monday to report sick, in order to be in conformity with the COVID-19 guidelines. However, I did not believe at all that I was sick with COVID-19. I thought it was one of those rare fevers I get that lasts only one or two days after my body lowers resistance following over-exertion while exercising. After all, had been careful in following COVID-19 guidelines. But as we all should know by now, one cannot be careful enough when it comes to this plague and…
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As part of its Covid-19 response program, Uganda Development Bank (UDB) has just issued a call for applications for priority lending to selected sectors at not more than 12 percent interest. These include: food & beverages, textiles, clothing, leather & footwear (hides & skin), paper and publishing, packaging and wrapping materials, chemical & industrial products, timber, woodworks & furniture manufacturing, construction materials, pharmaceutical products, human & animal drugs manufacture and electricals. In this interview with CEO East Africa Magazine, Patricia Adong Ojangole, the Bank’s Managing Director shares more details on who qualifies and how to apply for the facility.
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On or around 5th June 2020 the Minister of Finance Planning and Economic Development tabled in Parliament 4 bills for approval into Acts of Parliament. The above bills are to amend The Income Tax Act (Bill No. 1 dated 4th June 2020), The Excise Duty Act (Bill No.1 dated 4th June 2020), the Tax Procedures Code Act (Bill No. 9 dated 30th March 2020) and the Value Added Tax Act (Bill no 14 dated 4th June 2020). The bills are ostensibly to address the negative effects of COVID-19 on taxpayers. Whereas the measures themselves are timely and more than welcome,…
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On the evening of March 18th 2020, President Yoweri Kaguta Museveni announced government would shut down schools, religious gatherings and entertainment places in order to decongest high risk population concentration zones. Addressing the nation that evening, President Museveni also said that Cabinet, sitting on Monday 16th March 2020 had in a pre-emptive move also decided to as well bar Ugandans from travelling to or through class 1 affected countries. Foreigners intending to travel to these countries, would not be stopped but they wouldn’t be allowed to travel back to Uganda within 32 days. Travelers from those countries were also…
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1. What does Credit Relief mean? It is a re-organisation of a debt obligation through concessions or accommodations that provide borrowers with some form of relief in how and/or when they meet their debt obligation(s) to lenders. 2. What is the key objective of the Credit Relief Measures issued by the Bank of Uganda? The objective is twofold: (i) To enable borrowers cope with the adverse impact of the COVID-19 pandemic on their ability to repay loans; and (ii) To mitigate the risks faced by lenders that may arise from exposure to borrowers that are affected by the COVID-19 pandemic….
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By Sydney Asubo With people facing confinement or strict social distancing measures, in-person banking and access to other financial services being difficult, and unnecessarily exposes people to the risk of infection. The Financial Intelligence Authority (FIA) encourages the fullest use of responsible digital customer onboarding and delivery of digital financial services in light of social distancing measures put in place by the Government of Uganda. While unintended, these measures may provide new opportunities for criminals and terrorists to generate and launder illicit proceeds. The FIA advises financial institutions to remain alert about malicious or fraudulent transactions similar to those that…
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Government of Uganda is to borrow up to USD1.51 billion (UGX5.7 trillion) from various multilateral lenders, once Parliament approves the motions tabled before it. According to a parliament brief to the Finance Committee that CEO East Africa has seen, this includes the USD491.5 million already approved by the IMF Executive Board for Uganda and is now awaiting Parliament’s ratification. In fact, according to an April 2nd 2020 motion to Parliament, government had initially planned to borrow USD 250 million from the IMF but following the May 6th 2020 decision by the IMF, the Ministry of Finance withdrew the first USD250…
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Government of Uganda on May 18th turned 32 foreign truck drivers who tested positive for Covid-19 back to their respective countries. This followed the testing of 1,743 samples of truck drivers. 12 new Ugandan cases were also confirmed from this batch and the patients evacuated to hospital- ministry of Uganda twitted last night. The total confirmed COVID-19 cases now stands at 260. The Ministry of Health also on May 17th announced that government’s Central Public Health Laboratory (CPHL)/ National Health Laboratory and Diagnostic Services (UNHLS) had received cobas 8800, a real time Polymerase Chain Reaction (PCR) machine with the capacity of…
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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 approved and issued protective masks. In a speech to the nation, yesterday 18th May 2020, Mr. Museveni said that government will from June 2nd 2020 start distributing the masks and until then various measures cannot go into effect. “The measures to ease lockdown as addressed today will be activated only when each individual has received a standard mask distributed by the government of Uganda,” clarified president Museveni, on his official…
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