Ugandan businesses are still low on funds even after the Ministry of Finance, Planning and Economic Development injected a stimulus package of Ush13,208 billion ($3.7 billion) into the economy to help them weather the economic impacts of Covid-19.
As part of the stimulus package, private loans in commercial banks were restructured, development financer Uganda Development Bank (UDB) recapitalised to finance distressed companies, businesses directly benefited from tax rebates and deferrals and youth and women entrepreneurs got seed capital. However, businesses in Kampala The EastAfrican spoke to are still reporting a drop in cash flow and low foot traffic.
