The African Development Bank Group
Tel: (+256-414) 236 166/7 | Fax: (+256-414) 234 011
 | Location: Uganda Country Office (UGFO), 14th Floor, Crested Towers Building, Hannington Road, Kampala, Uganda Address: P.O. Box 28509, Kampala, Uganda  The cost of money in Africa and the attendant risk factors have seen the use of diaspora quickly become a viable financing option for economic development as was underscored by finance experts at a recent remittances forum in Tunis, the capital of Tunisia.With close to 250million migrants around the world sending home about $400billion, African Development Bank President Donald Kaberuka called for increased transparency of prices and service features as these would allow consumers to make informed decisions. This would subsequently foster more competitive and safe market for remittances.Besides finding solutions on how to leverage the remittance opportunity, financial experts also grappled the challenge of finding solutions to the high cost of sending money. Read more ▪  Africa growth to continue - ADB bank predicts Africa’s economy is projected to continue its growth, the African Development Bank (ADB) said on Wednesday in its economic outlook.The outlook, released in Johannesburg, predicted that Africa’s economy would grow by 4.8 per cent in 2013 and 5.3 per cent in 2014. ▪ Shs267 billion set for 47,000 university science students The African Development Bank $103 million (Shs267 billion) loan to Uganda will enable six targeted Institutions of higher learning to enroll additional 35,000 students in science and technology programmes at university and more than 12,000 through virtual learning. ADB regional director of East Africa Resource Centre Gabriel Negatu said the project will lead to job creation and self-employment in Uganda. “Targeted institutions provide training for more than 60 per cent of the country’s university level enrolment, and 95 per cent of those training in sciences and technology,” Mr Neguta said. Read more ▪ |