In July last year, the government, through the President’s Office and the ICT ministry signed a contract with Joint Stock Company Global Security, a security company said to be from Russia, to implement the smart tracking project for a period of 10 years.
Read more ...The banking Industry returned a combined net profit of Shillings 1 trillion and 1 billion, but seven banks fell deeper into losses in 2021. The higher commodity prices abetted by the Russia-Ukraine conflict have also started directly feeding through to consumer prices, weakening consumer optimism and Household demand,” says the BOU.
Read more ...Commercial Banks now have now registered 19 million accounts and this information can be used to tell the size of the taxable section of Ugandan. Moses Kaggwa, from the Ministry of Finance, says that informality is one of the challenges highlighted in the fight to increase domestic revenue collections, as the bigger share of the private sector is held by informal enterprises.
Read more ...In Uganda, 80 per cent of households in the country are involved in agriculture, with rural communities having even bigger numbers, however, only a fifth of these receive extension services, according to FRI. The inadequate extension services make it difficult for farmers in Uganda to get access to reliable, up-to-date information about regenerative and circular agriculture.
Read more ...Uganda was one of the 23 countries on the Grey List of the FATF and was given till May 2022 to submit a review report giving satisfactory mechanisms it has put in place against money laundering and terrorist financing, or it will be put on the Black List. Regions like the EU however, did not wait for Uganda to be blacklisted by FATF and went ahead to implement sanctions that are required for financial systems that fail to curb illicit financial flows.
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