The MIND is a monthly publication. It contains Indicators updated on Monthly, Quarterly and Yearly frequencies. Consequently, it is prepared with a lag of one month, owing to the need to compile data that has been officially released following the end of the preceding month. The same principle applies to the Quarterly and Yearly data.
Ministry of Finance launched Uganda’s second Extractive Industries Transparency Initiative (EITI) Report in September, 2023. EITI is an international initiative that promotes the transparent and accountable management of countries natural resources. The report details how Uganda has adhered to EITI standard in terms of managing her extractive sector across the whole extractive industries value chain. Additionally, the report details disclosure of contextual information about the Extractive Sector, the Legal Framework and economic contribution.
In August 2023, Ministry of Finance, Planning and Economic Development launched the Money Laundering and Terrorism Financing National Risk Assessment (NRA) 2023 Report. This will act as a national reference guide for Ani-Money Laundering and Counter Terrorist Financing (AML/CFT). Additionally, the Terrorism Financing Risk Assessment for the Non-Profit Organizations sector in Uganda (TFRA) 2023. This is in line with Government’s efforts towards the fight against financial crimes.
The Memorandum of Understanding signed in September, 2023 was geared towards enforcing cooperation between the two countries as well as including on digital transformation programs at the Uganda Revenue Authority Headquarters. The MoU is expected to help in the reduction of cargo diversion of goods that are destined for S. Sudan to Democratic Republic of Congo.
In August 2023, Electoral Commission launched 2022/23-2026/27 and road map for the 2025/2026 elections. The newly launched Strategic Plan and Roadmap serves as critical guiding documents for ensuring a smooth, transparent and inclusive electoral process.
In September 2022, Parliament reconsidered and passed the Competition Bill which was earlier returned by the President in July, 2023. H.E the President declined to sign the Bill on the basis that Clause 4 establishes the Competition and Consumer Protection Commission which attracts a charge on the Consolidated Fund.
In August 2023, Parliament passed the Narcotics and Psychotropic Substances (Control) Bill, 2023 which now allows the licensed farming and use of marijuana strictly for medical use, and sets harsh penalties for a multitude of offences related to substances abuse. The 94 Clauses Bill seeks to allow the cultivation of marijuana and that strictly for medical and other authorized usages, with extreme penalties including forfeiture of properties, lengthy jail terms and hefty fines for violators.
This policy brief spells out that ensuring that climate finance effectively works for low-income African countries especially those within the Sub-Saharan region. Vulnerable communities can be challenging, especially with the requirements and scope of the financial mechanisms in place. Creative and innovative ways to provide access to finance for small projects are essential in order to create resilience and reduce emissions.
This policy paper indicates that access to justice is crucial in attaining sustainable economic development across the Sub-Saharan Africa. This research was undertaken across the following countries: Burundi, Ethiopia, Kenya, Malawi, Mozambique, Somalia, South Sudan, Tanzania, Uganda and Zimbabwe.
The report was launched under the European Investment Bank’s (EIB) eighth annual Investment in Africa report covering the continent’s banking system. The report highlights that banking in Africa continues to show resilience and a desire to support Private Sector Development despite operating in a tough environment. Key banking indicators, such as capital ratios, profitability and non-performing loans, have not deteriorated despite the challenges the region is facing.
