Browsing: Business

Uganda’s economy is showing impressive growth, with GDP rising to 6.7% and export earnings surging by 21.8% in Q1 of FY 2024/25. However, the widening trade deficit and inefficiencies in service delivery pose challenges to sustained progress. The Ministry of Finance projects steady growth and stable inflation but emphasizes the need for export diversification, fiscal discipline, and investment in human capital to secure long-term economic resilience.

KAMPALA: Thousands of mourners from diverse walks of life gathered at the newly constructed Mbogo Mosque in Kawempe North constituency…

Remittances to Uganda surged to $1.43 billion in 2023, providing critical support to household incomes and economic stability. As the nation leverages these funds to reduce poverty and drive growth, challenges like high transaction costs and limited financial inclusion remain barriers to maximizing their impact. Here’s how Uganda compares globally and what it can do to transform remittances into a tool for sustainable development.

Uganda’s second-hand clothing (SHC) market continues to thrive, contributing significantly to tax revenues and household affordability. Despite the proposed ban by the East African Community, SHC imports have grown, with China emerging as a dominant supplier. This analysis explores the market dynamics, re-export trade, and the socioeconomic implications of transitioning to local textile production.

A new report, Pathways to Prosperity for Adolescent Girls in Africa, highlights the immense potential of investing in adolescent girls, particularly in Uganda and across sub-Saharan Africa. With over half of African girls aged 15 to 19 out of school, married, or raising children, targeted interventions in education, health, and economic opportunities could generate over $2.4 trillion in economic gains by 2040. By addressing gender-based violence, reducing education costs, and equipping girls with market-aligned skills, policymakers have the chance to transform lives, communities, and economies. Investing in girls is not just a moral imperative but a key to Africa’s growth.

Ugandan scholar and human rights advocate Dr. Jimmy Spire Ssentongo has become a powerful voice against corruption. From his incisive cartoons to groundbreaking campaigns like the Kampala Pothole Exhibition and #UgandaHealthExhibition, Ssentongo has mobilized Ugandans to demand accountability. Named a U.S. Department of State Global Anti-Corruption Champion, he continues to challenge entrenched vices, even as threats to his safety mount. His resilience and activism embody hope for a more just and equitable Uganda.

Miika, a resilient student from Ntungamo, is breaking barriers at Makerere University. Born with a disability that once confined him to a wheelchair, he now operates Infinity Radio from his dorm room, amplifying youth voices and advocating for inclusivity. Despite challenges, his journey from humble beginnings to a student leader and entrepreneur embodies determination, innovation, and hope.

Before 2024, Mathias Mpuuga symbolized leadership and unity across Uganda’s political, religious, and cultural arenas. Yet, his recent fall from grace, amid allegations of corruption and strained relations with the National Unity Platform, marks a turning point in his political trajectory. Despite the challenges, Mpuuga’s resilience and new Democratic Alliance movement signal a bold attempt to redefine Uganda’s opposition landscape.

Uganda has made impressive strides in ICT, increasing internet penetration from 25% to 67% and expanding digital literacy programs across the country. However, challenges like uneven rural access, affordability issues, and a lack of universal digital literacy remain. With a population of 46 million, ensuring equitable access to ICT services is crucial for socio-economic transformation.

Africa’s aviation industry is soaring to new heights, with passenger traffic surpassing pre-pandemic levels and significant year-over-year increases in seats scheduled from Asia, Europe, and North America. Leading carriers like Ethiopian Airlines and Safair exemplify operational excellence, while key airports such as Cairo and Johannesburg strengthen Africa’s role in global aviation. With fleets set to more than double by 2043, the continent’s aviation sector is poised for transformative growth, balancing economic potential with infrastructure and environmental challenges.