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Rootical obtains Shs1.4 billion to create a food system that will revolutionize the economy of Uganda

To transition to regenerative agriculture, smallholder farmers require inputs, training, market access, and other solutions. According to Isaac Muhofa, venture builder at Rootical, “As a startup studio, we are in the business of establishing businesses that can offer these products and services to speed that shift. The startup studio is trying to support Ugandan business […]

FAO Partners with Uganda to Enhance Dairy Product Quality and Expand Export Market

The Food and Agriculture Organization (FAO) has entered a partnership with Uganda to improve the quality of the country’s dairy products and explore new international markets. The partnership with FAO is expected to bolster the growth of the dairy sector in Uganda and promote economic benefits for farmers. Uganda has entered a new partnership with […]

Government allocates Shs 800m to develop Aruu Falls

The government has allocated shs 800 million to facilitate the development of Aruu Falls, an enchanting tourism site located in Angagura Sub County, Pader district. The State Minister of Tourism, Martin Mugarira Bahinduuka, announced the allocation, emphasizing that the funds will support various infrastructure projects aimed at enhancing visitor experiences and promoting the site’s tourism […]

Online Banking Scams on the Rise: Stay One Step Ahead with These Safety Tips

Nowadays, practically all banking can be done online. Why not? Accessing it is quicker, simpler, and faster. Unfortunately, there is a large risk linked to internet banking which is online scamming. With the ever-growing popularity of online banking, the risk of falling victim to online scams has also increased. Scammers have become more sophisticated in […]

Government of Uganda to Challenge Interim Orders Exempting Taxes on Gold Exports, Attorney General Announces

The Attorney General on Tuesday 16th May 2023 announced that the government will challenge the interim orders exempting payment of taxes on gold exports, following pressure from Parliament. The Ministry of Energy and Mineral Development had issued a waiver reducing the taxes on gold exports from Shs616 billion to Shs43 billion, which raised concerns among […]

More Oil Discovery Expected as Uganda Earns Shs7.4bn from 2nd Licensing Round

The Government of Uganda has earned $2 million from the second oil licensing round in the Turaco Block. The Production Sharing Agreement was issued to M/S Armour Energy Uganda (SMC) Ltd, a subsidiary of DRG Global on Friday 12th May 2023. The Energy Minister, Ruth Nankabirwa, stated that the exploration license was awarded according to […]

Uganda seeks $1.8 billion in loans for construction of East African Crude Oil Pipeline

Uganda is considering borrowing $1.8 billion from global financial institutions to fund the construction of the East African Crude Oil Pipeline (EACOP). The total cost of the project is estimated to be between $3.5 billion and $4 billion, and the country lacks the necessary funds in its coffers, hence the need for borrowing. The Minister […]

Promoting Investment and Collaboration: African American Development Partners Meet with Ugandan Officials to Unlock Opportunities in Karamoja

A meeting between Gen. Salim Saleh, the Chief Coordinator of Operation Wealth Creation (OWC), African American Development Partners, Ambassador Abbey Walusimbi (Senior Presidential Advisor on Diaspora Affairs), local business leaders, and other officials in Napak State, Karamoja. Gen. Saleh mentioned that President Museveni assigned him the responsibility of promoting trade and investment in Karamoja because […]

Government has revised the 2023/2024 Financial Year Budget to Shs52 Trillion From Shs51 Trillion

The Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi, has tabled the Supplementary Appropriation (No. 4) Bill, 2023/ 2024 for first reading amidst concerns from the Opposition about the utilizationof the previous requests to increase budget from Shs51 trillion to Shs52 trillion. Government has revised financial year budget to […]