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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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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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The Democratic Republic of Congo on Tuesday, March 10th confirmed its first case of coronavirus, bringing the number of countries in sub-Saharan Africa with confirmed COVID-19 cases to seven. Quoting the DRC Health Minister, Eteni Longondo, Reuters reported that the patient is a Congolese citizen who lives in France who returned to Congo on March 8th with no symptoms of the virus, only to test positive later. The patient and those around him have been placed in quarantine, Longondo told media.\ “What I’d like to tell people is not to panic,” Reuters quotes the Minister as saying. The minister also…
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