Uganda’s Economy Grows by 7%

Published on 1st January 2008

During his new year’s message to the nation, President Yoweri Museveni of Uganda said that the country’s economy had grown by 7% in 2007 despite power shortages and floods in northern and eastern Uganda. He attributed this success to a growth in services and industry, particularly the construction, manufacturing and electricity sectors. Museveni said he expected similar growth figures for next year. "The prospects for the economy in 2008 are even brighter. GDP growth is expected to continue at a pace of at least 7% per annum."

 

Oil Resources Discovered in Uganda

 

The recent discovery of oil resources in parts of Uganda could offer new momentum for the East African Community, an official has said. According to the Ag. Director in the ministry of East African Community Affairs, Mr Emmanuel Hatega Uganda's contribution in the East African region will very much depend on how the country will leverage its recent oil discoveries for the benefit of the regional bloc. "When the oil products from Uganda become available for local and regional market the cost of production will be reduced and industrialization becomes faster," he said.

 

A New Beginning for Nigeria

 

President Umaru Yar'Adua of Nigeria and other eminent political and religious leaders have canvassed a new beginning in the country. In his New Year message in Abuja, the President pledged to ensure greater understanding between the arms of government in the year with a view to serving the people well. "The year 2008 promises to be a very eventful one in the progressive development of our dear nation. Among other things, it will be the first in which a national budget entirely conceived by this administration will be implemented in furtherance of our national aspirations.”

  

Election Results Cause Chaos in Kenya

 

Violence has rocked Kenya as Kenyans protest against President Kibaki’s victory. The country is currently severely damaged as lives and property have been lost. This has affected businesses in not only Kenya but also our neighboring countries such as Uganda, Rwanda and DRC that rely on Kenya’s infrastructure as there are blockades due to the violence. Food stuff and fuel is getting scarce as delivery vehicles cannot move.

 

NCC: Biggest Achievement for Zambia in 2007

 

United Liberal Party (ULP) leader, Sakwiba Sikota said that the commencement of the National Constitutional Conference (NCC) is the biggest achievement the country has recorded in 2007 and Zambians should be proud of it. Speaking in an interview, Mr Sikota said that the commencement of the NCC was not an end in itself but that participants and other stakeholders had a challenge to bridge their differences and create confidence in the process. He said there was need to work towards consensus-building on various issues.


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