Tag: Uganda
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Seven in ten Ugandans spend beyond their income, survey-based study shows
πΊπ¬π΅ “Seven out of every 10 Ugandans were operating a personal budget deficit (needing more money than they are earning to cover their personal budget),” the FinScope 2023 survey done by the not-for-profit company Financial Sector Deepening Uganda read. What is interesting is how the Ugandans’ strategy for coping with this financial situation has changed.…
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Ugandan president’s son vows crackdown on graft after taking over military
πΊπ¬ The son of Ugandan President Yoweri Museveni has pledged to fight corruption in the military after taking over as its top commander, a move widely expected to accelerate his rise to eventually succeed his father. Museveni named 49-year-old son Muhoozi Kainerugaba as the East African country’s new Chief of Defence Forces last week. In…
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πΊπ¬ Salaam Bank launches Uganda’s first Islamic bank
A unit of Djibouti-based Salaam Group launched in Uganda on Wednesday as the country’s first Islamic banking-compliant financial institution, the Ugandan president’s office said. The launch of the Salaam Bank Limited’s operations follows a law legalising Islamic banking in the east African country last year. Islamic finance follows Islamic religious principles such as bans on…
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Uganda future oil projects
πΊπ¬π’ Uganda has launched its first drilling rig to develop the Kingfisher oil field. On Jan. 24 first four oil rigs were commissioned. Starting drilling is a pivot point for the country that is planning to get first oil output in 2025 after a long delay. βͺοΈThe Kingfisher project is expected to boost Uganda’s oil…
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AU Passport Would Provide Boon To Intra-Africa Air Travel
Southern Africa Tourism Update reports on new study by the international airline organization IATA and the AU efforts to expand inter and intra connectivity of Africaβs airports and countries. IATA announced a 26.1% year-on-year rise in African air traffic; a leading aviation analytics firm believes that the adoption of an African Union (AU) Passport would…
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Enhancing Bilateral Ties: PAPSS Visits LBDI in Monrovia, Liberia
In a significant diplomatic development, Monrovia, the capital city of Liberia, recently played host to high-profile visits from the Pan-African Parliament Secretariat (PAPSS) and the Liberia Bank for Development and Investment (LBDI). The interactions during these visits underscored the commitment to strengthening diplomatic and economic ties between Liberia and the broader African community. The Pan-African…
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