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.
The President emphasised the need to ensure that economic growth translates into improved household incomes, citing government programmes such as Operation Wealth Creation and the Parish Development Model (PDM).
The President also recalled the close cooperation between Uganda and Tanzania, citing trade, the East African Crude Oil Pipeline, the Murongo-Kyikagate mini-hydro project, roads in Tanzania, the Masaka-Bukoba transmission line and the Standard Gauge Railway, which has reached Isaka and is expected to extend towards Uganda and beyond.
The Commonwealth Heads of Government Meeting 2024 CHOGM is taking place in Apia, Samoa, and started from October 21-26, 2024, under the theme, One Resilient Common Future: Transforming our Common Wealth. It will be the first CHOGM to be held in a Pacific Small Island Developing State.