Coronavirus

Economy

Central bank details key debt relief measures to ease coronavirus hit

The measures include the opportunity to pause loan repayments, the chance to extend maturity dates of loans, and other forms of debt restructuring set out by the law. The central bank has also suspended the prepayment of loan arrears as a condition for debt restructuring
Workers on a construction project
Opinion

Will the coronavirus crisis derail the African century?

Even before the virus has made much headway on the continent, African currencies, sovereign debt, and public equities have fallen dramatically, in many cases experiencing losses far greater than in developed or other developing and emerging markets
Garden City Mall in Nairobi during the coronavirus outbreak
Economy

Coronavirus: BoU cuts interest rates, lowers growth forecasts, offers flexibility on bad loans

The Bank of Uganda cut its benchmark interest rate by a percentage point as part of measures to mitigate the economic crisis caused by the coronavirus pandemic, and also announced actions to support the financial institutions it supervises, including a moratorium on dividends and bonus payments
Emmanuel Tumusiime-Mutebi, the governor of the Bank of Uganda
Politics & Policy

Government to spend extra Shs304.4bn to counter coronavirus

Uganda will spend Shs304.4bn ($80.6m) over the next three months on its coronavirus pandemic response, according to a supplementary budget request presented to parliament this week
The offices of the Ministry of Finance in Kampala.
HealthOpinionPolitics & Policy

The economic pain caused by Covid-19 shows we need to reshape African cities

In Africa, lockdowns to control the spread of the Covid-19 coronavirus outbreak will hurt urban families -- most of who depend on informal sector jobs -- the most. Therefore, reshaping African cities in the pandemic’s aftermath to ensure they can be engines of economic growth in the future, will be key
Boda boda cyclists on a Kampala road
Economy

Private sector contracts for the first time in over three years in Covid-19 fallout

The first indicator showing the economic impact of the Covid-19 coronavirus outbreak is out, and it shows that private sector activity in Uganda shrunk for the first time in over three years
Namirembe Road in downtown Kampala
Economy

Businesses to shut down as Museveni announces lockdown

President Yoweri Museveni announced lockdown measures on Monday, telling all shopping malls, non-food shops, salons, and guesthouses to close for 14 days, and stopping all people to people travel
A shopping mall in Kampala
EconomyPolitics & Policy

Covid-19 could break Africa. But it also offers an opportunity to reboot the continent’s economic policies

Africa’s ability to use monetary and fiscal policies to mitigate the pandemic’s economic impact is limited. Whereas governments and central banks around the world have adopted robust and often unprecedented short-run stimulus measures, most African countries lack the policy space and capacity to do so, or are constrained by monetary arrangements that prevent them from implementing national strategies
Female worker in a garments factory
Economy

Government suspends public transport as coronavirus cases rise to 14

Uganda's government said on Wednesday that it is banning public transport for two weeks in a further tightening of measures aimed at preventing the spread of the novel coronavirus. Earlier, the ministry of health announced that infections of the Covid-19 coronavirus had risen to 14
Taxi park in Kampala
Economy

Coronavirus cases rise to nine, all Ugandan nationals

The number of confirmed Covid-9 coronavirus cases in Uganda has risen to nine after eight new infections were detected, the ministry of health said late on Monday
Previous 1…34567 Next