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.
President Yoweri Kaguta Museveni has branded opposition MPs as disruptive, useless, and politically bankrupt.
Addressing a group of local journalists...
“When you invest in Uganda or any of the brother African countries, you have the assurance of this huge and growing market. We believe in win-win solutions to human problems. The population of Africa will be 2.5 billion people in the next 25 years. The population of Uganda will be 106 million people by that time,” he said.
The government aims at making the country a market leader in the generation and dissemination of appropriate agricultural technologies for sustainable development in semi-arid regions that cover the cattle corridor and five other agro-ecological zones comprising the Eastern Savanna (Teso) region, Karamoja dry lands, Lango, Acholi, and west Nile sub-regions.
The government has over the years attracted huge foreign direct investments to the economy, which has led the GDP to grow very fast with inflation being at single-digit 3%, which is a sign of a stable economy.
Africa has a large market for quality goods and services, and if African governments focus on producing high-quality products, they will be able to trade and become prosperous.