Tag: Local traders

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.

Bank of Uganda Battles Global Economic Storm to Protect...

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.

Why Aggressive Taxation May Not Solve Uganda’s UGX 143.92...

When the Uganda Revenue Authority (URA) aggressively enforces digital systems like EFRIS or increases implicit transaction levies on an economy already choked by a 4.1% inflation rate, it doesn’t create wealth but panic. 

KACITA Breaks Silence on Alleged State Money Received to...

Kampala City traders have since pushed the quest to meet President Museveni to express their discontent; however, their efforts have remained futile after Museveni postponed the meeting to unknown dates. The traders want President Museveni to halt the Chinese dominance of the economy and use of EFRIS, among others.

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