News Uganda Finance: Uganda imposes levy on foreign digital companies' income
Uganda's parliament late on Tuesday passed a new tax law that imposes a 5% levy on income earned in the country by foreign providers of digital communications services such as Twitter and Meta's Facebook. Authorities in the east African country have been exploring ways of tapping into the fast-expanding digital economy to help boost revenue needed to pay off mounting public debt. The Ugandan parliament said in a Twitter post that lawmakers had passed a new tax law called "The Income Tax (Amendment) Bill, 2023" containing the new levy.
News Uganda Finance: Uganda: Finance Committee To Scrutinize Utilisation Of Budgets
The Committee of Finance is to study and reconcile financial ... disbursed to districts for maintenance of roads outside the Uganda National Roads Authority (UNRA) jurisdiction should be stopped.
News Uganda Finance: Bay Area nurse helps finance life-saving heart surgery for Ugandan children
A San Mateo County woman who survived a rare form of cancer as a teen has made it her personal mission to help provide life-saving heart surgeries for children in Uganda.
News Uganda Finance: 2-year-old boy rescued after being "swallowed" by hippo, Uganda police say
Police said the boy was playing at his home, which is about a half-mile from a lake where about 6,000 hippopotamuses live.
News Uganda Finance: Uganda to Withdraw From CHAN Finals Over Financial Constraints
The president of Federation of Uganda Football Association (FUFA), Moses Magogo has revealed that the Uganda Cranes will likely withdraw from Africa Nations Championship (CHAN) finals over financial challenges.
News Uganda Finance: Kenyan fintech Pezesha raises $11M backed by Women's World Banking, Cardano parent IOG
This is the gap that Kenya’s embedded finance fintech Pezesha seeks to bridge as it expands into Nigeria, Rwanda and Francophone Africa following an $11 million pre-Series A equity-debt round led by Women’s World Banking Capital Partners II with participation from Verdant Frontiers Fintech Fund, cFund and Cardano blockchain builder Input Output Global (IOG). The fintech’s new growth strategy follows its plan to power its embedded finance offering beyond its current markets, including Uganda and Ghana, to bridge the financing gap affecting millions of micro, small medium-sized enterprises (MSMEs) across these markets. Founded in 2017 by Hilda Moraa, Pezesha has built a scalable digital lending infrastructure that allows both traditional and non-traditional finance institutions to offer working capital to MSMEs.
News Uganda Finance: Uganda Airlines Pay Sparks Equality Demand
The Chief Executive Officer (CEO) of Uganda Airlines earns Shs87 million, the Director Maintenance Shs80 million per month, Chief Financial Officer Shs73 million, and Manager Finance shs58 million. Others are Human Resource Manager and manager Quality Assurance at Shs43 million, Manager ICT at Shs36 million, Manager Cargo Shs14 million.
News Uganda Finance: Finance releases Shs20b for Karamoja
The government has so far released Shs20b out of the Shs135b from contingency fund to support the relief efforts in Karamoja Sub-region and other disaster-affected areas. It also released 8,047 tonnes ...
News Uganda Finance: African governments piling up debts they can’t pay, says former finance minister
According to Former Finance State Minister in charge of General Duties Fred Omach, as of 2020, General Gross Government Debts owed by African countries stood at $1.5 trillion up from over $192b...
News Uganda Finance: Uganda’s land can feed 200 million people, report says
Uganda’s fertile agricultural land has the potential to feed about 200 million people according to a new report by International Trade Administration to the UN’s Food and Agriculture Organisation. We ...
