Daily Monitor
Tuesday May 11 2021
The Minister of Agriculture, Mr Vincent Ssempijja (left), accompanied by other leaders, visit the cassava project site in Kibuku District last year. PHOTO/MUDANGHA KOLYANGHA
Summary
The project, which was meant to start early last year, is being funded by Uganda Development Corporation (UDC) and implemented by Fresh Horizons Ltd to promote food security through sustainable cassava production.
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The establishment of a Shs47b cassava-sorghum industrial project in Kibuku District has stalled over lack of funds, Daily Monitor has learnt.
The farmers, who were set to benefit from the multi-billion project, which was expected to add value to cassava and sorghum, may have to wait longer after government reportedly failed to release the funds.
Daily Monitor
Tuesday April 27 2021
Summary
Bilateral creditors categorised into Paris club and non-Paris club took up 6.8 per cent ($790 million) and 22.7 per cent ($2.65 billion) respectively, whereas commercial banks held a share of 7.6 per cent an equivalent of $890 million.
The biggest lenders include the International Development Association ($3.4b), China Exim bank ($2.6b) and African Development Bank ($1.4b) as of March 2020.
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After months of brushing off concerns about the growing national debt, Finance minister Matia Kasaija yesterday said government will seek to reschedule payments, on the day this newspaper revealed each Ugandan now owes Shs1.5 million.
In an interview with Reuters news agency, Mr Kasaija revealed that repayments of the debt, now at $17.96 billion (Shs66 trillion) if domestic debt is included, might have to be renegotiated with major creditors, including China and the World Bank.
Stimulus package was ‘ghost’ deal for SMEs, say analysts
Monday April 26 2021
An empty street on Namirembe Road in Kampala during lockdown in March last year. Small businesses did not receive the support they needed in the last year, analysts note. PHOTO / ISMAIL KEZAALA
Summary
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Micro, small and medium enterprises (MSMEs), which were the biggest segment of the economy that deserved some relief to stay afloat in the last 13 months, were either excluded or handed a “ghost” deal, an analysis of the stimulus package has revealed .
A scrutiny by organisations SEATINI-Uganda, OXFAM, Argidius and the Federation for Small and Medium Enterprises shows that disbursement and management of the funds government allocated to the stimulus package has largely not served its intended purpose, with the biggest culprit being MSMEs.
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.
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