The World Bank, in its economic update on Uganda, published on 8 July 2020, recommends that the country should invest more in digital technology to better address its economic and social challenges during the coronavirus crisis.
According to the international financial body, the country should focus on the implementation of favorable policies and regulations, the review of taxation in the digital economy, the use of technology to support the health sector and economic recovery through increased digitization of agribusiness and manufacturing, the extension of social security, and transparency and accountability of the government's response to Covid-19.
The Bank also emphasized the development of a coherent strategy to support ecosystems and catalyze the regional and global integration of Uganda's digital economy.
“There are areas of the economy that have shown resilience in the current crisis and by leveraging digital technologies, people are inventing new ways of operating and doing business,” said Richard Walker, World Bank Senior Economist for Uganda.
The World Bank estimates that Uganda's real gross domestic product (GDP) growth in 2020 is expected to be between 0.4 and 1.7%, compared to 5.6% in 2019. This could push up to three million Ugandans into poverty due to economic hardship and lack of alternative livelihoods.
African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...
Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...
StartupBlink ranked 25 African countries in its global innovators index, with 13 in the top 100. ...
Buenassa has submitted a $1.5bn bid to acquire Chemaf as part of a $3.5bn industrial plan The roadmap includes completion of Chemaf’s...
Government plans CFA-equivalent investment of 41.8 billion Congolese francs over 2026–2028 Funds target farm equipment purchases and rehabilitation of...
Two aging gas turbines commissioned in 1977 are being replaced at Port-Gentil Installed capacity is expected to rise to 40–50 MW from 25–30...
Togo plans to mobilize CFA35 billion ($63 million) in 2026 to finance decentralization and deconcentration reforms. The allocation represents...
More than 100 Senegalese artists publicly urged President Bassirou Diomaye Faye to impose sanctions on Israel over the Gaza conflict. The artists...
Fela Kuti received a posthumous Lifetime Achievement Award from the Recording Academy He is the first African artist recognized by the Grammys...