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INVESTOR SUPPORT PORTAL
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Uganda’s response and Covid-19 case updates
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Survey of impact of
COVID-19 on investment in Uganda
In April 2020, Uganda Investment Authority initiated an online survey to determine the impact of Covid-19 on investments and businesses in Uganda.
The survey aimed at discovering the impact on the workforce, business continuity plans and how the GOU response measures have affected business operations.
E-conference to share
Status of Investments during the Covid-19 pandemic
On 14th June 2020, Uganda Investment Authority held an e-conference with various sector players on live on NTV Uganda to discuss the “New normal” and possible continuity steps.
COVID-19 Virtual Business Survival Bootcamp
African Management Institute (AMI) is offering a free online bootcamp to help companies adopt to the new normal. The webinar dates are announced on a rolling basis with focus on Financial Forecasting and Cost Management in an Economic Slowdown.
Google resources to help improve digital skills for SME's
The internet giant Google has put together a bundle of free online resources to help SME’s improve their digital skills and online presence.
Economic Support Measures
Government & Institutional Measures
Flexible tax payment terms & extension of filing tax returns
The Uganda Revenue Authority announced various continuity measures including extending the deadlines for filing of returns, accepting installments, waiving penalties etc. URA has durther extended the dealdine to June 2020.
NSSF extends amnesty to businesses
NSSF introduced a 3 months Amnesty to support businesses and employers facing economic distress as result of the COVID-19 pandemic and subsequent lockdown. The measure involves allowing employers to reschedule their social security contributions for the next three months without accumulating a penalty. This was futher extended to 6 months.
Ministry of Finance Resilence Packages
During the just concluded UIA E-conference, Hon. Evelyn Anite, the State Minister of Finance for Investment and Privatization highlighted that MOFPED is working on economic resilience packages.
She mentioned that the relief will be channeled through Uganda Development Bank and the Microfinance Support Centre for SMEs.
Bank of Uganda threatens cap on bank interest rates
The Bank of Uganda (BoU) has threatened to cap the interest that commercial banks can charge borrowers, after the industry failed to reduce loan rates in response to cuts in benchmark rates, according to a letter from its governor.
BoU cut its Central Bank Rate by 200 basis points to an all-time low of seven percent between April and June, to try to help jumpstart an economy battered by the impact of the coronavirus.
Tourism sector receives 6M Euros loan from EU
The Ministry of Tourism has negotiated a 6m Euro (25.2 billion) stimulus package from the European Union towards the private tourism sector for post lockdown operations.
This was disclosed by the Accounting officer of the Ministry of Tourism, Doreen Katusiime while interfacing with Members of Parliament on the Public Accounts Committee (PAC) .
Uganda Wildlife Authority (UWA) announces Tourism Incentives
Uganda has announced incentives to kick-start tourism recovery amid the COVID-19 pandemic that heavily impacted on the sector
Uganda Wildlife Authority (UWA), on Thursday announced price cuts, incentives on Gorilla tracking permits and filming fees.
Call for Applications for Tourism Intervention Fund
Uganda Development Bank (UDB) in partnership with European Union (EU) has allocated an approximate pool of UGX 61.8 Billion (UGX 40Bn UDB loan plus UGX 21.8Bn EU Grant) in form of a grant attached to a loan (also known as ‘facility’) to enable the sector soar through the hardship of COVID19. The facility seeks to stimulate businesses operating in the tourism sector, which has been heavily impacted by COVID-19 by providing a grant and soft loan with flexible terms aligned to the current needs.
Private grants & loans
Grants & loan facilities for businesses from private entities