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.
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
MTN Ghana completes separation of mobile money into new entity Move aims to boost fintech growth ...
The Democratic Republic of Congo priced its first dollar bonds below Angola and Congo-Brazzaville yields, two sovereigns already known to international...
Up to 15,000 tourism jobs in Austria targeted for Tunisian workers Program expands beyond France under broader EU partnerships Initiative seen as...
AfDB launches initiative to redesign how Africa mobilizes and deploys capital Financing gap exceeds $400 billion despite large domestic...
Ethiopian Airlines and Asky plan a regional aircraft maintenance hub West Africa faces a shortage of MRO infrastructure Project enters a growing but...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...