Uganda, March 20 -- Uganda has registered 13.4 percent growth in private remittances over the last 12 months, which ended January 2024.

This means the recipients of these inflows in Uganda were assisted to meet their household needs in the face of high cost of living.

Mr Adam Mugume, the executive director of research at Bank of Uganda, said: "Personal transfers, which we usually call workers remittances, amounted to $1.417b (Shs5.5 trillion) in the 12 months to January 2024, up from $1.250b (Shs4.8 trillion) in the same period to January 2023, a growth of about 13.4 percent."

World over, remittances continued to be the premier source of external finance for low-income countries (LMICs) during 2023, relative to foreign direct investmen...