Browsing: Business

Developing nations are being locked out of global investment flows, just as they need them most. The World Bank’s 2025 report warns that unless governments dismantle trade barriers and restore investor confidence, millions may remain trapped in poverty. The solutions exist—but will the world act before it’s too late?

KAMPALA — Uganda’s latest budget speech marks not just the start of a new fiscal year, but the end of a 15-year chapter in the country’s economic journey. With the economy more than tripling and life expectancy climbing to 68.2 years, the government touts its record as proof of visionary planning. But behind the figures, real challenges persist—rising public expectations, weak implementation, and a population asking when prosperity will be more than a promise.

Uganda has tabled its largest budget yet—Shs 72.1 trillion—promising faster roads, digital transformation, better schools, and more jobs. But with 60% of the financing expected to come from domestic taxes, small businesses and workers are asking: can the government deliver on this grand promise without squeezing the very people it aims to uplift?

Uganda ranks 76th out of 130 economies in the World Bank’s Business Ready 2024 report, landing in the 41st percentile globally and 12th in Sub-Saharan Africa. The country scores well in utility access (60.3) and labor regulation (60.1), but struggles with land administration (42.8) and construction permits (48.1), raising urgent questions about reform capacity and competitiveness in East Africa’s fast-changing economic landscape.

A new study reveals a growing storm at Uganda’s borders—an underground cigarette smuggling industry now costing the nation over UShs 30 billion every year. Illicit tobacco trade has surged across East Africa, with 34% of cigarettes sold in Uganda now illegal. As jobs vanish and public service funding shrinks, experts are calling for an urgent crackdown. “This is not just about cigarettes,” warns BAT Uganda’s Arthur Bagenze. “It’s about lost livelihoods, weakened public trust, and criminal networks thriving where governments fail to act.”

In a small lab in Kampala, 11 Makerere University students are rewriting Africa’s scientific future. With a mission to combat hunger and climate change, they’ve engineered bacteria to produce vital nutrients and reduce carbon emissions—and they’re taking this breakthrough to the world stage in Paris. But their biggest hurdle now? Getting there.

ABIDJAN, Côte d’Ivoire | May 29, 2025 — In a defining moment for Uganda’s banking sector, Dr. Patricia Ojangole, Managing Director of Uganda Development Bank (UDB), has been named Africa’s Banker of the Year at the 19th African Banker Awards held in Côte d’Ivoire.
Her recognition comes as a testament to over a decade of visionary leadership, during which she turned UDB into a powerhouse of inclusive finance and private sector growth. With UDB’s balance sheet having grown tenfold under her stewardship, and its reach extending into underserved communities, Ojangole’s win signals a rising era of African women leaders shaping the continent’s financial future.
“This is a testament of hard work, resilience, consistency and commitment to serve the region,” said Ojangole in her acceptance speech.

Damali Ssali, one of Uganda’s most accomplished development leaders, has been appointed Country Director of GAIN Uganda, taking charge of one of the most ambitious food system transformations in the country’s history. With a USD 250 million investment track record, trade facilitation legacy, and youth-focused job creation success, Ssali brings unmatched expertise and vision to a new frontier: ending malnutrition through scalable, inclusive innovation.

With exports climbing and inflation still manageable, Uganda’s economy looks poised for growth. But beneath the surface, soaring spending and weak revenue collection could derail progress unless bold action is taken.

Airtel Africa has posted record gains in East Africa, reporting a 13.6% rise in regional revenue to $1.84 billion. Mobile money, growing 29.9% across the group, is transforming lives and livelihoods—especially in underserved areas where a mobile phone is now a wallet, a bank, and a business hub. CEO Sunil Taldar calls the growth “tangible proof” of East Africa’s digital and financial inclusion momentum.