Since the outbreak of the COVID-19 pandemic, Uganda has instituted two lockdowns—in March 2020 and June 2021. The second lockdown to contain the spread of COVID-19 has had far-reaching effects on a wide range of businesses. A rapid assessment was conducted to assess the lockdown effects on businesses in greater Kampala metropolitan, covering; market vendors, teachers, transport sector, fuel stations and households. The study results for businesses engaged in the transport sector show that contraction in economic activities due to the lockdown is associated with adverse effects of government tax revenue – for example, fuel tax revenue.