Remittances from Ugandans working abroad, locally called kyeyo, dropped by more than 56% from $800m (sh1.6 trillion) to $350m (sh735b) in the first quarter of the year. The fall is set to cause a negative impact on the construction sector and small business enterprises that depended on funds from relatives abroad. Speaking at a press conference on Friday, Bank of Uganda director Henry Opondo said the...
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