Dorothy Nakaweesi
Kampala
The Government has been challenged to come up with deliberate measures that will promote and develop ‘Kyeyo’ services, which are increasingly boosting the country’s economy through the enormous remittances.
Diaspora remittances have, over the last decade become very important because of the role they play in development efforts in developing countries across the globe.
This was reiterated by Uganda’s Finance Minister Ezra Suruma while reading the 2008/09 budget on June 12. He said: “Remittances are increasingly becoming a major source of foreign exchange earnings, and are playing a strategic role in supporting macroeconomic stability as well as private investment”.
Last year remittances from Ugandans working and living abroad almost doubled to $1.4 million (Shs2.24 billion) up from close to $700 million (Shs1.12 trillion) a figure recorded in 2006. [Read More]
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