Africa News
LAST UPDATE: May 16, 2025
Leader of South Africa’s DA Lauds New Budget as ‘Credible’
Bloomberg
The leader of South Africa's Democratic Alliance praised the nation's new budget, describing it as credible and indicative of positive fiscal management.
Insight
This endorsement from the opposition suggests a rare political consensus on economic policy, potentially fostering a more stable investment climate in South Africa.
Ugandan parliament approves proposed 2025/26 government spending
Reuters
On May 15, 2025, Uganda's Parliament approved the government's proposed budget for the 2025/26 fiscal year, allocating 72.4 trillion Ugandan shillings (approximately $20 billion). The budget maintains similar spending levels as the current fiscal year. Priorities include agro-industrialization, tourism, and mineral development, particularly petroleum. Finance Minister Matia Kasaija is expected to present detailed allocations on June 12, 2025.
Insight
Uganda's consistent budget allocation underscores its commitment to sectors poised for economic growth, such as agro-industrialization and petroleum. The planned infrastructure projects, including a $5 billion crude oil pipeline through Tanzania, signify the country's strategic move to become a significant player in the regional energy market.
