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Uganda Ranked 3rd Poorest Country In The World (Based On GDP)

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A report from focus-economics.com has ranked Uganda as the 3rd poorest country based on Gross Domestic Product (GDP) in the world.

GDP is one of the primary indicators of a country’s economic performance. It is calculated by either adding up the annual incomes of all working-age citizens or by totaling the value of all final goods and services produced in the country during the year. Per capita GDP is sometimes used as a standard of living indicator, with a higher per capita GDP equating to a higher standard of living.

“GDP per capita is often considered an indicator of the standard of living of a given country, as it reflects the average wealth of each person residing in a country. It is therefore the standard method used to compare how poor or wealthy countries are in relation to each other. With 2018 just under way, we decided to take a look at our forecasts for GDP per capita from 2018 to 2022 for the 127 countries we cover to get an idea of what countries are the poorest currently and which will be making a leap toward becoming wealthier in the coming years. The projections used in this study are Consensus Forecasts based on the individual forecasts of over 900 world renowned investment banks, economic think tanks and professional economic forecasting firms,” the website writes.

About Uganda, the report states, “Uganda finds itself in third place on the list with a 2018 projected GDP per capita of USD 738. Although this represents a large leap from the level of the first two on the list, Uganda is a bit of a strange case. Following the 1986 armed conflict, the ruling political party National Resistance Movement (NRM), enacted a series of structural reforms and investments that led to a period of significant economic growth and poverty reduction all the way up to 2010. In the last five years or so, economic growth has slowed and consequently so has the pace of poverty reduction. There are a variety of factors that have brought on the slowdown, however, it has been attributed mostly to adverse weather, private sector credit constraints, the poor execution of public sector projects and unrest in their neighbor South Sudan, which has flooded the country with refugees fleeing the country and subdued exports. According to the World Bank, if Foreign Direct Investment accelerates, the banking system stabilizes, and budgeted, capital spending is executed without delays, the economy may start to pick up once again, helping to reduce poverty.

Luckily for Uganda, it appears the FDI is indeed improving as it expanded by double digits in 2017, which bodes well for the economy and poverty reduction in the near future. The downside risk to the outlook is the weakness in the financial system, particularly the low level of credit in the private sector and the high cost of small loans. FocusEconomics panelists see growth of 5.4% in 2018 and 5.8% in 2019.” Below is the full list:

 

2018 Rank Country GDP per Cap 2018 (projected) GDP per Cap 2016 (Actual) 2016 Rank GDP per Cap 2022 (projected) 2022 Rank
1 DRC 468.2076 440.9842 2 631.9861 2
2 Mozambique 485.6679 383.1195 1 578.8407 1
3 Uganda 737.8687 694.2869 3 897.6487 3
4 Tajikistan 835.9737 806.0073 6 1085.773 4
5 Haiti 873.9934 705.3676 4 1153.522 5
6 Ethiopia 938.1304 883.8655 7 1253.024 6
7 Yemen 998.4961 761.088 5 1501.568 9
8 Uzbekistan 1025.504 2144.655 22 1646.637 10
9 Tanzania 1112.21 975.859 8 1362.394 7
10 Kyrgyzstan 1221.712 1080.689 9 1446.402 8
11 Myanmar 1432.801 1231.791 10 2134.979 15
12 Zambia 1461.506 1299.422 12 1665.591 11
13 Cambodia 1494.199 1268.826 11 1967.887 12
14 Pakistan 1609.103 1465.591 14 2004.865 13
15 Bangladesh 1618.685 1371.748 13 2374.252 18
16 CDI 1737.16 1517.963 15 2279.192 17
17 Kenya 1761.482 1557.898 17 2092.147 14
18 Ghana 1767.604 1539.536 16 2245.091 16
19 India 2174.133 1742.058 18 3087.243 21
20 Nigeria 2216.672 1975.526 20 2670.87 20
21 Nicaragua 2276.476 2151.236 23 2643.961 19
22 Egypt 2497.835 3689.49 34 3666.88 27
23 Vietnam 2566.532 2109.914 21 3412.303 23
24 Moldova 2616.058 1924.746 19 3511.613 24
25 Ukraine 2638.074 2169.044 24 3576.092 26
26 Laos 2689.059 2400.304 25 3535.01 25
27 Honduras 2834.203 2631.252 26 3157.905 22
28 Philippines 3164.74 2926.438 27 4378.544 31
29 Bolivia 3398.316 3113.914 29 4045.165 30
30 Morocco 3399.481 3011.579 28 3968.448 29
31 Tunisia 3552.575 3719.063 35 3864.81 28
32 Armenia 3941.751 3578.193 31 4908.447 35
33 Mongolia 3980.608 4075.311 41 5940.182 43
34 Algeria 4094.787 3903.194 38 4508.672 32
35 Indonesia 4109.704 3605.222 32 5439.364 39
36 Azerbaijan 4153.154 3507.727 30 5658.588 42
37 Georgia 4198.04 3946.083 39 5993.943 44
38 Sri Lanka 4282.559 3811.488 37 5544.294 40
39 Venezuela 4368.119 4778 48 4925.365 36
40 Iraq 4436.796 4547.616 46 5046.504 37
41 Kosovo 4495.335 3672.294 33 6024.757 45
42 El Salvador 4509.722 4226.656 44 5135.928 38
43 Paraguay 4516.276 3991.964 40 6169.961 46
44 Belize 4651.313 4630.585 47 4799.132 33
45 Guatemala 4703.326 4125.903 42 5548.938 41
46 Angola 4725.743 3721.601 36 4903.343 34
47 Albania 5192.632 4142.339 43 6824.766 50
48 Bosnia 5209.645 4517.359 45 6757.568 48
49 Jamaica 5374.142 4968.894 50 6209.366 47
50 Iran 5727.839 5231.508 52 7048.236 52
51 Jordan 5904.414 5541.111 55 6768.028 49
52 Belarus 5979.214 4914.952 49 7400.126 54
53 Macedonia 6112.687 5212.371 51 8016.382 56
54 Ecuador 6140.741 5966.118 57 6850.166 51
55 South Africa 6342.13 5335.191 53 7127.819 53
56 Colombia 6671.489 5800.91 56 7880.529 55
57 Serbia 6755.329 5446.652 54 9017.78 59
58 Thailand 6965.455 5969.76 58 8322.678 57
59 Peru 7049.746 6178.552 59 8361.598 58
60 Dominican Republic 7334.704 6766.407 60 9159.166 60
61 Turkmenistan 7456.266 6921.015 61 10311.37 62
62 Botswana 8512.711 7297.961 63 9574.504 61
63 Montenegro 8585.437 7022.697 62 10909.39 63
64 Bulgaria 9210.746 7507.744 64 12281.7 66
65 Kazakhstan 9374.124 7852.118 65 11848.74 65
66 Mexico 9706.379 8796.565 68 12668.89 67
67 China 9766.357 8103.066 66 13108.97 68
68 Brazil 10199.39 8720.176 67 11815.55 64
69 Turkey 10941.74 10805.09 73 14012.61 71
70 Costa Rica 10969.64 10666.89 72 13223.71 69
71 Malaysia 11093.39 9427.831 70 14580.94 72
72 Romania 11600.14 9510.628 71 16486.5 74
73 Russia 11664.74 8933.798 69 13570.09 70
74 Lebanon 12385.41 11292.64 74 15060.66 73
75 Croatia 14729.96 12230.22 75 18340.22 77
76 Argentina 14881.05 12507 77 17082.55 75
77 Hungary 15774.98 12822.99 78 20664.73 81
78 Panama 15793.39 14322.74 81 19630.67 79
79 Chile 15796.06 13585.68 79 19124.89 78
80 Poland 15953.16 12412.96 76 21438.44 82
81 Trinidad 16784.46 16091.78 84 20259.31 80
82 Oman 16848.18 16646.1 86 18020.52 76
83 Latvia 17590.22 14032.5 80 23129.31 83
84 Uruguay 18264.38 14942.53 83 23457.4 84
85 Lithuania 18955.37 14942.53 82 25487.88 87
86 Slovakia 19741.33 16549.46 85 25499.87 88
87 Greece 20600.22 17919.14 88 25042.87 86
88 Saudi Arabia 21814.52 20312.95 91 24865.64 85
89 Estonia 22408.15 17793.45 87 29662.79 91
90 Portugal 23472.93 19893.46 90 28456.84 89
91 Czech Republic 24150.93 18552.02 89 31987.27 94
92 Bahrain 25876.4 24305.31 95 29496.51 90
93 Taiwan 25950 22628.72 93 29862.84 92
94 Kuwait 26193.48 26231.85 97 30496.88 93
95 Slovenia 26332.4 21719.96 92 33070.55 96
96 Cyprus 27628.76 23702.83 94 33157.46 97
97 Brunei 27631.4 26958.03 99 32456.92 95
98 Puerto Rico 30785.55 30790.08 101 38609.33 99
99 Malta 31222.64 25368.66 96 39689.85 101
100 Spain 31684.34 26730.29 98 38722.39 100
101 Korea 32116.98 27534.89 100 38501.28 98
102 Italy 34964.68 30790.56 102 40963.66 103
103 UAE 35810.02 35378.11 103 40613.18 102
104 Japan 39326.88 39189.51 107 45250.71 104
105 New Zealand 42296.78 39075.31 106 47555.63 106
106 Israel 42605.59 37092.17 104 47541.27 105
107 United Kingdom 42712.54 40535.31 108 51243.24 107
108 France 43533.1 38236.2 105 51427.33 108
109 Hong Kong 47094.64 43544.18 112 55478.03 110
110 Canada 47584.47 42409.73 111 53768.91 109
111 Belgium 47980.08 41551.59 109 56380.1 111
112 Germany 49082.64 42270.89 110 59385.92 112
113 Finland 50559.41 43557.5 113 60133.76 113
114 Austria 52284.4 44907.32 114 62176.49 114
115 Netherlands 53339.85 45746.92 115 64251.35 115
116 Australia 57432.85 51899.34 117 66695.32 116
117 Singapore 58090.72 55163.19 119 67629.88 117
118 Sweden 58429.58 51480.74 116 73332.43 121
119 Qatar 59074.09 58211.29 121 72813.63 120
120 Denmark 60789.46 53907.48 118 71931.15 119
121 United States 62009.81 57607.78 120 70437.55 118
122 Ireland 77182.55 64907.43 123 93344.89 123
123 Iceland 77314.73 59523.81 122 95788.6 124
124 Norway 79214.45 70875.86 124 101150.4 125
125 Switzerland 82188.71 81245.83 125 90239.11 122
126 Luxembourg 117274.8 102230.9 126 136074.3 126

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MTN Chairman Charles Mbire Quizzed Over Telecom Giant’s Saga

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MTN Chairman Charles Mbire has been quizzed over the MTN saga according to information obtained by the Grapevine.

Security sources have told this website that the tycoon was quizzed over activities of top expatriates (some of whom have been deported), who used the mobile system to try to distabilise national security by supporting subversive activities.

“These MTN bosses, some of who have been deported, were using the mobile money system to support some individuals who wanted to distabilise the country. Money from individuals from hostile countries was being passed through their MoMo system,” the security source told the Grapevine.

When quizzed further on what really took place during Mbire’s quizzing, the source told this website that this information is still confidential.  MTN CEO Wim Vanhelleputte was deported yesterday back to Belgium, three weeks after three of the company’s expatriate staff were expelled.

Security sources have also told the Grapevine that former Head of Legal and Lawyer Katamba Anthony recorded statements. The source added that MTN is also involved in under declaration of Mobile money transactions.

Three weeks ago, MTN Uganda’s general manager for mobile money Elsa Mussolini, an Italian citizen, marketing chief Olivier Prentout, a French national, and Annie Bilenge-Tabura, a Rwandan who was head of sales and distribution were deported. Ugandan authorities accused them of using their positions to “compromise national security.

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MTN WOES: Telecom Giants Confirm CEO Vanhellputte’s Deportation, Quickly Appoint  Ugandan As New Boss

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Telecom Giants MTN have confirmed that their CEO Mr. Wim Vanhelleputte has been deported from Uganda.
In a statement issued by MTN Group Corporate Affairs, MTN says that, “MTN confirms that Mr. Wim Vanhelleputte, the CEO of MTN Uganda has been deported from Uganda. MTN has not been notified of the grounds for the deportation and is working hard to establish precise reasons for the deportation.”
“We are understandably concerned about these developments and are engaging with the authorities to seek understanding that would lead us to resolving this matter.
To ensure business continuity, we have appointed Mr. Gordian Kyomukama, currently Chief Technology Officer, as Acting Chief Executive. Our focus continues to be on delivering the best quality products and services to our customers,” the statement further reads.

Mr. Gordian Kyomukama

Yesterday, Mr. Vanhelleputte was kicked out of Uganda back to Belgium after security forces got information that he was involved in subversive activities that were threatening the country’s security.
Mr. Vanhellputte’s deportation comes on the heels of deportation of three of his staff. Three weeks ago, MTN Uganda’s general manager for mobile money Elsa Mussolini, an Italian citizen, marketing chief Olivier Prentout, a French national, and Annie Bilenge-Tabura, a Rwandan who was head of sales and distribution were deported. Ugandan authorities accused them of using their positions to “compromise national security.

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TENSION: MTN CEO Kicked Out Of Uganda Three Weeks After His Three Staff Were Deported For Being A Threat To National Security

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MTN CEO Wim Vanhelleputte has been deported tonight back to Belgium, according to sources, weeks after three of the company’s expatriate staff were expelled.
Three weeks ago, MTN Uganda’s general manager for mobile money Elsa Mussolini, an Italian citizen, marketing chief Olivier Prentout, a French national, and Annie Bilenge-Tabura, a Rwandan who was head of sales and distribution were deported. Ugandan authorities accused them of using their positions to “compromise national security.
A deportation letter dated 14th February 2018, signed by Minister of Internal Affairs Jeje Odongo says that Vanhelleputte has been ‘deemed to be an undesirable immigrant’.
“And I further declare that this order shall be carried into effect by the removal of the said Wim Vanhelleputte by deportation and while waiting to be conveyed to the place of departure shall be kept in custody,” part of the deportation order reads.


Last July, MTN said armed men claiming to be from Uganda’s Internal Security Organisation “kidnapped” two of its contractors and forced them to open up the company’s main data centre, where they made an unsuccessful attempt to access it’s servers.
The telecom firm, one of Africa’s largest, has run into legal trouble elsewhere.

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