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Tag: COVID-19

NEW: Credit Relief Measures to Mitigate the Economic Impact of COVID-19- Bank of Uganda .

Staff

KAMPALA, Friday, April 17, 2020 – Bank of Uganda (BoU) in its Monetary Policy Statement of April 06, 2020, made reference to credit relief measures to mitigate the adverse effects of the COVID-19 pandemic, ensuring financial sector stability, and facilitating the financial inter-mediation process during this pandemic period. The credit relief measures contained herein, do not eliminate the debtor’s obligation…

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World Bank Hails Tanzania, Warns African Countries Duplicating Western Anti-COVID-19 Approaches

PDStaff

World Bank has warned African countries against copying the Western policies in combating COVID-19 and has thus applauded Tanzania for employing unique approaches. This call was in latest the Africas Purse report titled as Assessing the Economic Impact of COVID-19 and Policy Responses in Sub-Saharan Africa that was released today. The report commended Tanzania as one of the best examples…

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Market for eggs tumble as hotels and export markets close

Staff

Sellers of eggs in Kampala are stuck with hundreds of trays as the economy shut down due to coronavirus meaning key clients locally and abroad no longer buy. This has seen the price of a tray of eggs fall by at least 2000 shillings to just Uganda shillings 8,000 for the retailer buyers. Those buying in bulk can get a…

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COVID-19: Move to Cloud Crucial For Businesses

Staff

Companies that have embraced more digital ways of working have been far less impacted. Several slower respondents are turning their focus away from only the cost benefits of cloud-based solutions to the agility and responsiveness that they now require. The more connected businesses are those that will survive. Several years ago, Silver Bridge identified the cloud as a key business…

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COVID-19 causes big drop in business confidence in Uganda – Survey

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Business confidence in the country has fallen sharply for the first time since January 2017 as companies come to terms with Coronavirus (COVID -19) wave, a survey has shown. The Purchase Managers Index (PMI) for March 2020, a survey published by Stanbic bank and mainly talks to owners of businesses show that confidence fell to 43 points, regarded as poor.…

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Safaricom rolls out ‘Bonga For Good’ to help customers deal with COVID-19 impact

Staff

  Safaricom has rolled out Bonga For Good, an initiative that will see customers use Bonga Points to pay for essential goods and services. This campaign is a response by the company to the negative impact of the COVID-19 pandemic, the biggest being reduced income for majority of Kenyans. “We have seen Kenyans lose some or all of their income…

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Covid-19: CBN orders bank to dishonour cheques

Staff

Sequel to the directive of Federal Government of Nigeria to lockdown the nation’s commercial nerve centre, Lagos, its political capital, Abuja and another state, Ogun, for its proximity to Lagos to curb further spread of the lethal virus, coronavirus, the Central Bank of Nigeria (CBN) has directed commercial banks not honour transactions in cheques. A note shared by one of…

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Covid-19: Broadband infrastructure under pressure, needs upgrade

Staff

  As one-third of the world population seems to have gone into “hiding”, fleeing the rage of Covid-19, the internet has become the nerve centre of professional and entertainment life across the globe. In the United States, all of this internet use is putting more pressure on the country’s broadband infrastructure, according to the Brookings Institution, a think-tank based in…

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