The World Bank and International Monetary Fund have called for the suspension of debt repayments for poorer countries as many of them turn to focus on battling the Coronavirus (COVID -19). In a joint statement on Wednesday night, the two multi-lateral lenders said the Coronavirus outbreak is likely to have severe economic and social consequences for the International Development Association…
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According to Nasdaq, the percentage of online transactions around the world has been increasing over the years. This is reason enough for businesses to embrace e-commerce and to come up with ideal marketing channels to double down on their marketing efforts. After all, as more people purchase online, more online seller-competitions will emerge. As a business owner, you need to…
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Building on our most recent article that covered some questions that will guide your choice of setting up a business, we scheduled a meeting with Dickson Mushabe of Hostalite to give us a breakdown of a few key points one should consider when setting up a business. Incase you have no heard about Dickson, he is a thirty-something man who…
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Several banks in Dubai have agreed to offer their customers loan repayment holidays and reduced charges to help reduce the impact of the corona virus outbreak on their finances and relieve economic pressure. As a result of the pandemic, the global economy has been heavily affected, disrupting trade and the tourism industry, which happens to be one of Dubai’s major…
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Government needs to devise means of protecting the economy from crumbling as a result of the temporary shutdown of key businesses because of the corona virus. Makerere University Business School-MUBS Economics Lecturer and Policy Analyst, Ramathan Ggoobi says the Coronavirus (COVID-19), which has since been declared a pandemic is economically contagious and has attacked all sectors of the economy at…
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In a statement by the Airtel Uganda Managing Director, VG Somasekhar the move is aimed at supporting efforts to control the spread of the deadly coronavirus pandemic by promoting conversion of physical cash to digital or electronic transactions. “As part of the support, effective March 20, 2020, all on-net person to person transactions will be free for 30 days for…
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MTN Uganda, announced on Thursday that they would be joining the rest of the country in the fight against the spread of COVID-19 by easing charges on select Mobile money transactions and data bundles. Mobile money transfers below UGX 30,000 will not be taxed for a period of 30 days. This is in a bid to combat the spread of…
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The Minister of Finance, Matia Kasaija has noted that the country’s economic growth projections in FY2019/2020 has been revised downwards from 6.0 percent to between 5.2 5.7 percent depending on the severity of the COVID-19 impact on Uganda. While addressing Parliament on Thursday, the Minister noted that the country’s revenue collections will register an additional shortfall of about Shs82.4 billion…
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By: Alexander Kyokwijuka Starting out in business can be such an exciting experience for any entrepreneur because they are following their passion to realize their numerous dreams. That said, it can also be such a hustle especially if you are operating in an environment like ours (here in Uganda) where the cost of doing business is fairly harsh for…
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Leaders in Serere District have asked the government to carry out an audit of Kagwara Fish Handling Facility. The facility located in Kadungulu Sub County was constructed between 2009 and 2013 at 2.7 billion shillings. However, it has not been in use after the district declined to receive it from the contractor citing shoddy works. ` Joseph Opit Okojo, the…
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