Looking at the bigger picture, speculations are that the milk and milk product levies and taxes are designed to lure Uganda to choose favourably towards other trade issues that are pending.

As local Ugandan media puts it; “Uganda maintains that if there are issues that need to be addressed, they can be handled through bilateral arrangements or the regional trade agreements within the East African Community instead of using arbitrary means such as high taxes.”

Squeezing Uganda to act in its favour, Kenya has also imposed what Uganda is terming ‘a restriction to Ugandan diary products since January 2020.’ Notably, Kenya is Uganda’s largest milk trading partner in the region, yet for over an year now, Kenya has maintained restrictions on Ugandan milk products despite the East African Community (EAC) common market protocol.

According to the brewer, profit after tax for the period declined 1 per cent to Sh7 billion mainly impacted by cost inflation, tax and foreign exchange impact.

Further, the COVID-19 related tax reliefs in Kenya on corporation tax and VAT ended in December 2020, resulting in higher tax charges for the year as the rates reverted back to pre-COVID levels.

The company said the slower profit growth rate was driven by the impact of cost inflation, adverse foreign exchange and tax charges.

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The ceremony was attended by local and regional dignitaries – heads of states, ministers, heads of diplomatic missions and international organizational heads. H.E. Museveni in his speech gave highlights and assurance to the business community around the East African region, Africa and the world at large,  stating that the National Resistance Movement (NRM), – the ruling party, stands for Pan-Africanism which translates into economic and political integration. Economic integration in this case refers to having a common market for products and freely doing business within the borders of the neighbours. This is an assurance that the Ugandan market specifically, is open for interested economies and individual business owners and investors. 

Ugandan politics are suffering from a very common ailment, a viral disease that plagues most…