Uganda asking for massive $2.3 billion loan from China

Uganda asking for massive $2.3 billion loan from China

The government of Uganda is  negotiating a $2.3 billion loan – a sum that represents a big portion of its national output – to be used to fund an initial 273 km stretch of rail line to connect neighbouring Kenya. Uganda has taken a hammering from weak economy, depreciating shilling, slow recovery of war torn South Sudan and high […]

Museveni borrows Shs 545 billion to build toll road going to Rwanda

Museveni borrows Shs 545 billion to build toll road going to Rwanda

Talk has been whopping $476 million Kampala-Entebbe Expressway being the most expensive road in the world but Thursday’s signing of a $151 million (Ushs 545,110,000,000) 40-year from the African Development Bank (AfDB) is also raising debate among Ugandans. The enormous debt on the taxpayer is set to be used to partly expand a major road […]