Edith Akorfa Akua Lumor, Director of Finance at the African Union Commission said Africa loses 88.6 Billion Dollars in illicit financial flows and 50 billion to corruption annually, according to the UN Conference on Trade and Development (UNCTAD).
The government tasked Ithuba to contribute 147 Billion Shillings annually comprising 87 Billion in gaming taxes and 60 Billion in non-tax revenues. These funds, according to the Ministry, would go a long way in building sports infrastructure ahead of the Africa Cup of Nations set to be hosted by Uganda, Kenya and Tanzania in 2027.
"During this time, students may face increased pressure, leading to disengagement, especially if struggling academically due to financial challenges among others," says a report by a youth-focused NGO, Reach a Hand Uganda (RAHU).
Additionally, 14 percent identified a lack of childcare support in case the mother returns to school, and 12 percent pointed to inflexible school policies towards student-mothers.
The development will include flood mitigation measures spanning 11 acres, a new climate resilient market building with trading spaces for up to 1,500 traders, solar power, fire protection systems, and improved waste management, including water supply systems.
AfCRA is expected to reduce the cost of credit ratings for African countries and businesses, increase their access to capital markets, and ensure a fairer representation of their creditworthiness.
Mukunda said that the reduction in the resource envelop from the current 72 trillion to next year’s 57 Trillion Shillings is the realistic thing to do, because there would be no resources available to finance it anyway, according to him.
Both the grant element of new external borrowing and grant equivalent financing as a percentage of GDP are projected to fall as oil production commences in the medium term and the country progresses towards middle income status where it will have less access to concessional loans.