Fresh Cuts, other companies seek billions in tax waivers as Parliament scrutinises relief plan

William Lwanga5 days ago04 mins

Several local companies and institutions are seeking tax waivers running into billions of shillings, citing financial difficulties, declining revenues, loss of major contracts and growing debts. The requests are being considered as Parliament examines the government’s proposed framework for deciding which taxpayers facing financial difficulties should qualify for tax relief. Among the applicants is the…

Government boosts UDB capital to Shs5 trillion

William Lwanga1 week ago03 mins

Government has increased the authorised share capital of the Uganda Development Bank (UDB) from Shs2 trillion to Shs5 trillion as it seeks to expand access to affordable long-term financing for businesses and other productive sectors of the economy. The decision is part of government’s efforts to use UDB to support economic transformation under the National…

Uganda pledges to work closely with the World Bank to drive economic transformation

William Lwanga2 months ago03 mins

Uganda has reaffirmed its commitment to working closely with the World Bank Group to accelerate the country’s economic transformation and improve the lives of its people. Speaking during the launch of the Country Partnership Framework and the Public Finance Review at Golden Tulip Hotel in Kampala, the minister of Finance, Henry Musasizi, said the government…

UNATU warns teachers to be cautious of moneylenders

William Lwanga2 months ago03 mins

The Uganda National Teachers’ Union (UNATU) has warned teachers against falling victim to money lenders who are reportedly targeting them with quick and easy loan offers ahead of the anticipated salary enhancement in the new financial year. Speaking to Bbeg Media, UNATU secretary general Filbert Baguma said some teachers have already suffered financial losses after…

MPs approve €168m loan as government plans more irrigation projects

William Lwanga2 months ago03 mins

Parliament has approved a loan of €168.9 million for the second phase of the Solar-Powered Irrigation Systems Project, paving the way for the implementation of several irrigation projects across the country. The loan will be obtained from the United Kingdom Export Finance and Citi Bank to support government efforts to improve agricultural production and reduce…

Former ministers return as MPs sworn into 12th Parliament

William Lwanga3 months ago02 mins

Former ministers were among the legislators sworn in on Thursday as the composition of the 12th Parliament continued to take shape. The former ministers included Grace Freedom Kwiyucwinyi, the Woman MP for Zombo, and Christopher Kibazanga, the newly elected MP for Busongora South in the Rwenzori sub-region. Speaking shortly after taking the oath, Kwiyucwinyi pledged…

Low-income earners to benefit from planned tax exemptions, says government

William Lwanga5 months ago03 mins

The Minister of State for Finance (General Duties), Henry Musasizi, has defended the proposed increase in the government’s total resource envelope, saying it is aimed at supporting key priorities for the 2026/27 financial year. Speaking to journalists at Parliament after a meeting of the NRM Caucus,Musasizi said he will present draft budget estimates next week….

Government to focus on full monetization of economy according to budget framework paper

Our Reporter8 months ago02 mins

The government has tabled the National Budget Framework Paper (NBFP) for FY 2025/2026 – FY 2030/2031, highlighting commercial agriculture, industrialisation, oil and gas, tourism, and technological innovation as the main focus. The NBFP theme: “Full Monetization of Uganda’s Economy through Commercial Agriculture, Industrialization, Expanded Social Services, Digital Transformation, and Market Access,” marks a strategic pivot…

Museveni directs allowances for LCs, councillors to be raised

Our Reporter12 months ago03 mins

Political leaders in the local government sphere are set for a pay rise beginning in the 2026/27 financial year following a directive by President Museveni. The Minister of Local Government, Raphael Magyezi, announced the development while presenting a statement before Parliament on Tuesday, 09 September 2025, in response to a petition by the Uganda Local…