Ugandans still waiting for Covid-19 stimulus package
Monday March 01 2021
KAMPALA- Businesses that were supposed to benefit from the government stimulus package from the Uganda Development Bank have not received any money.
In June 2020, government announced that small and medium size enterprises in agro processing, manufacturing and tourism sectors would receive about Shs1 trillion to support them during the lockdown.
The money was supposed to be channelled to eligible beneficiaries through the Uganda Development Bank (UDB).
However, many businesses have never received the money.
In January, UDB said it had disbursed up to Shs242b to vital sectors of the economy in 2020.
The East African
Friday February 26 2021
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Uganda’s Capital Markets Authority and Uganda Manufacturers Association have signed an agreement to encourage manufacturers to list on the Uganda Securities Exchange (USE).
The manufacturing sector contributes about eight percent to the GDP currently compared with 15 percent in the pre-pandemic times, according to data from the Capital Markets Authority (CMA) of Uganda.
“Uganda’s manufacturing sector has an investment gap of more than $300 million per year and this offers strong growth opportunities for the capital markets industry,” said Keith Kalyegira, CMA chief executive.
The country’s economy is currently valued at $35 billion, representing the total value of goods and services produced throughout the year.
Daily Monitor
Wednesday February 24 2021
EAC countries including Kenya and Tanzania continue to lock out Uganda’s sugar out of their markets without proper explanation. PHOTO |FILE
Summary
Government, according to Ministry of Trade, will present its case before the East African Summit.
In 2019, Tanzania blocked Uganda’s sugar from entering its market only to allow 20,000 tonnes in 2020 but that was also stopped.
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Government, according to Ministry of Trade, will present its case before the East African Summit.
The summit, which involves a number of hybrid meetings, is ongoing and will climax with the Heads of States meeting.
Mr Emmanuel Mutahunga, the Ministry of Trade commissioner external trade, yesterday told Daily Monitor, government had been engaging and will continue to engage member states to solve the trade wars, with a further push expected during the during the ongoing summit.
Uganda’s Manufacturing Sector
Uganda’s manufacturing sector might have its challenges, but there are many public and private stakeholders intent on helping develop it
During the 1990s and early 2000s, Uganda made the transition from a predominantly agricultural to increasingly industrialised country, and was praised for its economic policies of government divesture, privatization and currency reform. With the return of political stability to the country, foreign companies and lending institutions began investing in the manufacturing sector, in businesses such as cement factories, drinks manufacturing plants and textiles and steel mills.
However, agriculture is still the largest contributor to the country’s GDP. Uganda’s manufacturing industries are primarily based on processing these agricultural products including tea, tobacco, sugar, coffee, cotton, dairy products and more. Other goods produced in the country include fertiliser, beer, matches, shoes, ste