Traders Urged to Import Essential Goods To Save The Dying Shilling

Traders are asked to focus more on importation of essential commodities as one way of saving the Uganda shilling from further depreciation against the US dollar.

Currently the shilling is trading at a record 3,300 shillings against the dollar which is threatening to weaken the economy further.

The Senior Manager at KPMG Uganda Dr. Fred Muhumuza says currently more financial discipline is required from the importers especially through reducing on the importation of luxuries.

Muhumuza says in the long run government must think of strategies to improve the country’s export sector to fetch more foreign exchange.