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.
To facilitate free movement of goods and people within the borders of the two neighbouring countries, DRC removed visa fees for Ugandan intending to visit the country. Previously, the fee ranged from US$50 to US$100 depending on the length of stay when traveling to DRC. The removal of the fees will promote trade and strengthen bilateral relations between the two countries. However, the guarantee of free movement is subject to restrictions imposed by the countries for reasons of public policy, public security or public health.
The Africa Risk-Reward Index (2023), ranked Uganda as the most attractive economy to invest in within the East African Community (EAC) and the third across the entire African continent. The report commends Uganda for interventions in improving the business environment which has made the country attractive for investors. The ranking is mainly attributed to Uganda’s macroeconomic stability; enhanced political stability; and infrastructure development.
According to the brief, the Business Climate Index (BCI) improved from 89 in Q2 FY2022/23 to 91 in Q3 FY2022/23. The improvement is mainly driven by Input costs, production cost, activity, turnover, capacity utilisation and profit. However, despite of the improvement, the conditions for doing business remained below potential during the review period (January to March 2023).
The report shows that, the value of intra-African trade reached US$193.17 billion, growing by 18.6 percent in 2022. Intra-African trade, which has been given a boost through the implementation of the African Continental Free Trade Agreement (AfCFTA), is clearly set to redefine Africa’s economic fortunes for the future.
