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.
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...
• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société Générale Burkina Faso (SGBF).•The move is part of...
• Mali plans to increase its total cotton cultivation area to 672,000 hectares in the 2025/2026 season, marking a 7.8% or 50,000-hectare increase from the...
• Tanzania Railways Corporation inaugurated freight service on the Standard Gauge Railway (SGR) between Dar es Salaam and Dodoma.• The SGR is part of...
• World Bank advocates for green jobs as a strategic solution for Gabon's economy and youth unemployment.• Despite natural wealth, training in sustainable...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...
Lake Natron, located in northern Tanzania near the Kenyan border, is one of the most extraordinary and extreme lakes in Africa. Fed primarily by the Ewaso...