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.
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
The BCEAO cut its main policy rate by 25 basis points to 3.00%, effective March 16. Inflation...
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
Senegal launches 200 billion CFA bond in UEMOA Proceeds to fund 2026 budget, transformation agend...
MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...
The number of African billionaires rose to 23 in 2026, according to Forbes. Their combined wealth jumped 21% over the past year to a...
ACSA plans $695m upgrade and expansion of Cape Town airport Project includes new runway, terminals and expanded passenger facilities Expansion...
Zambia Railways secures $20m to rehabilitate six locomotives Upgraded locomotives expected back in service between May and December 2026 Project...
Deal reflects growing security cooperation amid Sahel terrorism threats Ghana plays key role in Accra Initiative regional security efforts The...
Located about forty kilometers east of Lomé along the Gulf of Guinea, Aného is one of the most historically significant towns in Togo. Nestled between a...
African-born artists generated $77.2 million in auction sales in 2024, down 31.9% year-on-year. Women artists accounted for about $22...