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.
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Despite decades of declining output, South Africa remains a major gold producer. While other leading African producers show year-to-year volatility, the...
Tinubu appoints Bianca Odumegwu-Ojukwu as foreign minister Predecessor Tuggar resigned to run in 2027 election Move part of broader foreign...
Kenya, Africa CDC sign deal for regional health centre Nairobi hub to serve 14 states, boost outbreak response Initiative aims to strengthen...
Togo leader visits Kyrgyzstan to strengthen bilateral ties Talks with President Japarov to focus on investment cooperation Agreements...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....