Global payments leader PayPal has expanded access to its digital dollar stablecoin PayPal USD (PYUSD) in 70 markets around the world, including several countries in Africa. The announced move aims to modernize international money transfers by reducing the high costs, delays and inefficiencies inherent in traditional banking operations.
Artificial intelligence (AI) is rapidly transforming legislative processes around the world, and the Ugandan parliament should not stand by. With the start of the 12th Parliament, he is faced with a global paradox: while the technological revolution is changing the economy and governance, the legislature risks viewing artificial intelligence as a niche issue for technocrats from the Ministry of Information Technology or the Ugandan Communications Commission.
President Yoweri Kaguta Museveni has called on the European Union (EU) and Western countries to prioritize Africa's industrialization and value-added. During a meeting at the State House in Entebbe with the EU Ambassador to Uganda Jan Sadek, the President said that the continent could not continue to rely on exports of raw materials decades after independence.
The East African Development Bank (EDB) has established a $13 million fund designed to support youth- and women-led businesses across East Africa. The initiative, announced at a meeting of the Bank's Board of Governors in Kampala, Uganda, aims to promote inclusive economic growth and reduce poverty in the region by providing affordable loans to entrepreneurs who often face significant barriers to financing.
Tanzania and Uganda have signed a memorandum of understanding (MoU) to strengthen cooperation in the tourism sector, while stakeholders are calling for urgent infrastructure improvements to unlock the country's full potential. The document is aimed at strengthening bilateral cooperation in the field of tourism. The agreement focuses on joint promotional efforts and the creation of multi-destination travel packages aimed at encouraging visitors to explore a wider range of attractions across East Africa.
The Ugandan Legislative Assembly has approved a rule-making act «on the protection of state sovereignty» designed to deter interference from abroad. This decision was made only after a significant correction of the document, caused by concern that the original editions could lead to the «destruction of the economy». Currently, this legal act is awaiting approval from the Head of State, Yoweri Museveni.
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