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- For millions of households in Uganda, remittances play a vital role in safeguarding food security, healthcare, savings and investment opportunities.
- IFAD data shows 75% of money sent to Uganda is used to fight poverty and improve access to nutrition, health, housing and education.
- The remaining 25 percent is used to support small businesses and facilitate access to financial products.
The UN’s International Fund for Agricultural Development (IFAD) has partnered with Stanbic Bank Uganda (SBU) in a plan to reduce the cost incurred by Ugandans sending money back home by half through a digital payment platform dubbed FlexiPay.
The partnership will also provide remittance recipients, especially in rural areas, with digital and financial training to promote the savings culture and foster digital finance uptake among these communities.
Cost of remittances in Uganda
At the moment, the average cost of sending money back home for Uganda’s migrant workers is 11.3 per cent, …
- Millions of pensioners in Uganda will continue decrying delayed payment of their monthly dues.
- A new Bill seeking to streamline the pension system in Uganda was withdrawn for further scrutiny by the Executive.
- The objective of the new Bill was to provide for the establishment of a public service pension fund and a public service pension scheme.
Pensioners in Uganda may have to continue decrying delayed payment of their monthly dues while the government continues to battle ghost claims on the payroll following the withdrawal of a new Bill.
The Public Service Pensions Fund Bill, 2023, introduced on March 14, and aimed at implementing a mandatory contribution system for public servants’ pensions has been withdrawn.
Uganda pensioners payment shall be prompt
This is despite the proposed law undergoing significant changes during the committee review. The withdrawal aggravates the pain for pensioners who were banking on the new law to get …
- Uganda signed a deal with China under which the China National Nuclear Corporation(CNNC) would assist its endeavours to tap into one of the few Nuclear energy sources in Africa.
- The first nuclear project, Buyende Nuclear Power Plant, will be located in Buyende, approximately 150 km(93 miles) north of Kampala.
- Uganda has an estimated 52000 square kilometres of uranium deposits around Buganda, Toro, Ankle and Bunyoro.
Africa takes the next step in its evolution as Uganda announced its plans to generate at least 1000 MegaWatts(MW) from its nuclear power plant by 2031. This lines up with its efforts to identify alternative energy solutions that guarantee faster and more efficient electricity production. Uganda will become one of the few countries to produce nuclear energy in Africa, further boosting its economic growth exponentially.
Uganda first discovered its uranium deposits in 2004, and since then, nuclear power became a valid option for the country. …
Other than the trade issues, the session examined and harmonized implementation of decisions across various sectors of bilateral cooperation including immigration, education, transport, communication, defence and security, energy and mineral development among others.
The meeting was a success to say the least, however, it still remains to be seen whether in the wake of the meeting, Ugandan truckers will pay less at the Tanzanian border. With a six month reporting period, a lot can transpire in the interim.
It is now going towards a month since the January sit-down and no ground reports have been publicized as to whether the toll fees have been harmonized for Uganda to match other EAC charges at the Tanzanian border.…
TotalEnergies CEO Patrick Pouyanne said that the memorandum of understanding will see the French firm produce Liquefied Petroleum Gas (LPG) and also deploy large-scale renewable energy technologies to identify areas of commercial investment.
Uganda’s Minister of Energy and Mineral Development, Ruth Nankabirwa said in a speech ahead of the signing that the agreement would put the country on the path to first oil in 2025. She added that EACOP would create approximately 160,000 jobs during the project’s development.
The agreement dictates TotalEnergies will develop solar, wind, geothermal, and other renewable technology power projects in Uganda to add a combined installed electricity output capacity of 1 Gigawatt by 2030 to the current 1.2-Gigawatt production.…
- EAC Secretariat Secretary-General Peter Mathuki has hailed the governments of the Republic of Rwanda and the Republic of Uganda for their efforts ahead of the reopening of the Gatuna-Katuna border post
- He said the reopening would strengthen bilateral ties between the two EAC Partner States, which will revitalise social, economic and political relations
- Mathuki added that the border would also promote peace and security across the region
The EAC Secretariat has lauded Rwanda and Uganda for their efforts to reopen the Gatuna-Katuna border post on 31st January 2022.
In a statement seen by The Exchange Africa, EAC Secretary General Peter Mathuki hailed the move terming it as a boost to regional integration.
The move, he added, would strengthen bilateral ties between the two EAC Partner States, which will revitalise social, economic and political relations.
“Reopening this strategic trade route is in line with the EAC Common Market Protocol and will …
The East African Business Council (EABC) and TradeMark East Africa (TMEA) say the unilateral bans on products, high fees by the Agriculture & Food Authority (AFA)-Kenya, trade information asymmetry and single lane road on Kenya’s side stifle business between the two East African countries.
Cross border traders decried the impounding of fish from Kenya destined for the Democratic Republic of Congo worth Ksh40 million in October 2021 by Uganda and import ban on eggs and sugarcane by Kenya.…
- To ease the truck traffic snarl-up at the Busia, Malaba border, Uganda has committed to conducting free COVID-19 tests
- Uganda’s move follows a joint multi-sectoral virtual meeting of the Ministers responsible for EAC Affairs, Health and Transport convened by the EAC Secretariat
- There have been over 4,500 trucks have stalled at the border posts, because of the mandatory Covid-19 testing requirement introduced by Uganda on 20th December 2021
Uganda COVID-19 border tests
Uganda says it will conduct free COVID-19 rapid tests at the Kenya-Uganda border points of Busia and Malaba for seven days, to ease the truck traffic snarl-up that has disrupted intra-EAC trade on the Northern Transit Corridor.
According to the EAC Secretariate, the move follows a joint multi-sectoral virtual meeting of the Ministers responsible for EAC Affairs, Health and Transport convened by the EAC Secretariat.
The secretariate further revealed that there were over 4,500 trucks have stalled at …
The programme runs for the 3-6 months between secondary school completion and the beginning of university.
It also offers the Global Summer Internship Programme, which allows scholars studying at international universities to return to Africa for their summer holidays and intern with Equity Group and its partners, giving them work experience and building their professional networks on the continent.
Others include the College Counselling Programme, which supports Equity scholars to access admission and scholarships to some of the world’s leading universities, including the Ivy League universities in the US.…