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A year later, SMEs still await stimulus
Tuesday April 06 2021
Closed shops in Kampala after the country recorded the first case of coronavirus in March. Businesses were ground to a standstill to limit the spread of the virus. PHOTO/Rachel Mabala
Summary
Economy limps. Since March 11, 2020 when Uganda reported the first case of Covid-19, several businesses and the economy suffered the wrath of the pandemic. But where is the stimulus package to help businesses bounce back?
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Despite the ongoing Covid-19 vaccination programme a year after the pandemic took its toll on businesses, there is a consensus among most economists that the economy is not out of the woods yet.
Daily Monitor
Tuesday March 09 2021
Mothers wait for services at Okole Health Centre II in Kole District on June 16 last year. Experts warn that reducing the health budget will affect the vulnerable. PHOTO | BILL OKETCH
Summary
According to the World Bank, about 3.15 million additional Ugandans could fall into poverty, adding to the 8.7 million already living below the poverty line in 2017 if no mitigating measures are employed to address the adverse effects of the pandemic. As such, there is a need for comprehensive government interventions to support the poor and vulnerable households.
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Experts and activists have asked government not to cut budget funding for health and education sectors, saying it will worsen the conditions under which Ugandans live following the impact of the Covid-19 pandemic.
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Egos, unfair trade shake EAC as DR Congo eyes entry Frederic Musisi Once upon a time, the East African Community (EAC), a six-member regional bloc of Uganda, Kenya, Tanzania, Burundi, Rwanda and South Sudan – admitted in 2016 – was both vibrant and buoyant. Not just to keen observers, but anyone could tell it had a sense of purpose. What exactly happened is a long story. But it began with Uganda, Kenya and Rwanda forming a loose association, which has since fizzled out, within the bloc. Along came a series of happenings, including trade wars and political disagreements, partly exacerbated by egos between Uganda and Rwanda, Rwanda and Burundi, and now Kenya and Somalia, which is also seeking entry into the bloc. Then the endless trade wars. It became monotonous to follow and the bloc became a floating object. Some members started defaulting on their financial commitments and the secretariat soon ran of cash to run operations. The 2019/2020 financial year
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