Uganda buys far more from foreign countries than it sells abroad, creating a massive $4.6 billion trade gap. Because international sellers only accept US dollars, local traders are constantly scrambling to buy greenbacks, driving the dollar’s value up and shilling down.
"It is very sad to learn of the death of our brother Hon. Charles Matovu, former Member of Parliament for Busiro South, who passed on yesterday. Hon. Matovu represented his people with vigor and utmost dedication in the 11th Parliament. He was a member of the Parliamentary football team, where his tremendous contribution led us to dominate the East African Parliamentary games. My condolences go out to his family, the people of Busiro South, and the country at large. May he rest in eternal peace., Tayebwa said.
Media reports indicate 1.2 million people work as boda boda riders in Uganda, which makes the motorcycle taxi business the second largest employer in the country, right after agriculture.
Museveni said Uganda is ready to cooperate with Gabon in agriculture and value addition, highlighting Uganda’s progress in processed exports such as coffee, tea, dairy products and honey.
“The transformation of Africa requires moving priority infrastructure projects from conception to implementation through coordinated planning and regional cooperation,” President Museveni noted.