Grace Nanyonga, the Chief Executive Officer of Grana Fish Supplies Limited in Mukono district, says that after failing to access government grants, she was forced to use her land title to secure a bank loan to support her business so that it can recover from the lockdown.
“The Board, Management and Staff of the Private Sector Foundation of Uganda PSFU, with deep sorrow, regret to announce the untimely death of their executive director, Mr Gideon Badagawa, who passed away this morning Monday, June 21st, 2021, in Mulago Hospital,” read a statement issued by Karuhanga.
Keith Jefferis, the Senior Advisor to the Botswana Ministry of Finance and Economic Development, says operational costs in Uganda account for 60% of the expenses of banks compared 40% in other countries, and this contributes to the high lending rates in Uganda.
Elly Karuhanga says for example that the government is seeking to increase taxes and create more to cater for the gap left by the decline in other revenue sources, especially from the sectors that were hit hard by the pandemic.
The ED, Badagawa, expressed worry that politicians' ignoring SOPs will increase the Covid-19 prevalence in Uganda and the fight will be longer than it should have been, leading to a prolonged slowdown in the economy.
