BY TOM BRIAN ANGURINI
2021 has been predicted to be the worst year for Uganda’s economy which has been hit hard by the coronavirus pandemic that forced many businesses to close.
According to ABSA bank managing director Mumba Kalifungwa, it will take a while for Uganda’s economy to recover because the collapsed businesses have affected revenue collections by the Uganda Revenue Authority.
Kalifungwa says there are still a lot of uncertainties ahead since the virus is still around and the situation could even become worse in the next months.
He urges the government to put in place strong mitigation measures and policies that will revive the economy.