UGANDA | PUBLIC – PRIVATE SECTOR DESTINED TO TAP INTO YAWNING PATIENT CAPITAL SOURCES

Agora - a global public good will open new investment opportunities and foster opportunities for growth through facilitating connections between entrepreneurs and investors

watchdoguganda.com, Kampala, 31 August 2022 – The United Nations Capital Development Fund (UNCDF) in partnership with a network of public and private sector actors in Uganda have today launched a pilot of an ambitious platform known as Agora. Agora is a digital pathway that seeks to serve as a global public good by scaling up the sourcing of new investment lead opportunities in frontier, emerging and developing economies, such as Uganda.

YouTube Video | Ministry of Finance, Planning and Economic Development : 6th High Level Economic Growth Forum – Day 1

YouTube Video | Ministry of Finance, Planning and Economic Development : 6th High Level Economic Growth Forum – Day 2 👇🏾

This initiative builds on the Survey of Ugandan SMEs conducted by UNCDF with support from the European Union in 2020 in partnership with the Ministry of Trade, Industry and Cooperatives, Uganda Revenue Authority, and Makerere University. That research highlighted, among other things, the importance of access to affordable finance for sustainable economic development, especially for SMEs in value addition, agroindustry and manufacturing.

Uganda is one of the two countries where Agora will be piloted before the pathway’s global launch by the end of 2022. The Ministry of Finance, Planning and Economic Development (MoFPED), the Private Sector Foundation of Uganda (PSFU), and the Federation of Small and Medium-sized Enterprises (FSME) will support the pilot in Uganda.

“We have put out an open call for Ugandan-based entrepreneurs and business owners in need of financing to seize this opportunity and register on the platform,” said Dmitry Pozhidaev, the Country Head of Office, UNCDF. “Through putting entrepreneurs in position to connect with investors and other actors in the capital markets, we believe that Agora will provide a much-needed and long overdue opportunity for local businesses to partake in the global financing arena.”

“There are many entrepreneurs and businesses that are ready to acquire the necessary financing to grow their businesses. For many of them, the only obstacle in the way is the market they happen to be operating in,” said Xavier Michon, Deputy Executive Secretary of UNCDF. “Agora will bridge the information gap that prevents investment finance from reaching promising projects in the world’s frontier, emerging, and developing markets. By bridging this gap, Agora will help deliver critical lifelines of capital to the businesses, entrepreneurs and communities that have been underserved by the global financial architecture.”

Agora intends to provide investment managers with innovative lead sourcing, screening flexibility, direct connection to principals and a possible collaboration with co-investors. Likewise, capital seekers will have access to similar functionalities to connect with capital providers and will be able to make themselves known to investors, companies in their ecosystem and other partners. This will give entrepreneurs in the targeted economies visibility to investors all over the world, making access to local, regional, and global non-traditional financing easier.

As a global public good, Agora will also facilitate connections between entrepreneurs from frontier, emerging and developing economies with prospective partners, including investors, who can provide critical knowledge, technical support, and capital to foster opportunities for growth. Agora also relies on a newly established network with a wide range of like-minded public and private entities interested in supporting and expanding impactful investments in the said economies. The Agora network includes Ernst & Young, the International Chamber of Commerce, Quantcube, FirstRand, IdealPrediction and Business Africa among other institutions.

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▶️  New Vision : 6th High Level Economic Growth Forum – In Pictures

UGANDA GOVERNMENT URGED TO LEVERAGE MOBILITY ECONOMIES OF SCALE

PS Ggoobi Wants Gov't to Stop Buying Fuel Guzzlers for To Officials

chimpreports.com, August 31, 2022 | The Secretary to the Treasury, Mr Ramathan Ggoobi, has suggested that government should revise the policy of buying big cars for its top officials.

File Photo/Courtesy: Dr. Ggoobi Ramathan, Permanent Secretary and Secretary to Treasury, Ministry of Finance, Planning and Economic Development, Republic of Uganda.

According to the 2021/22 financial year budget, government doled out Shs714b towards purchasing vehicles for public servants and politicians in the country.

But according to Mr Ggoobi, a revision of the policy would free some funds which government would allocate to poverty alleviation and wealth creation.

Speaking at the 6^th High Level Economic Summit organised by the Ministry of Finance on Wednesday, 31 August 2022, Mr Ggoobi reasoned that this also fits into government’s cost cutting strategy amid the declining revenue occasioned by the Covid-19 pandemic and the global inflation.

YouTube Video: Ministry of Finance, Planning & Economic Development : 6th High Level Economic Growth Forum – Day 1 👇🏾

“In Uganda, we have this problem of everybody wanting to have a big car and the policy allows them. As a government, we need to go back and perhaps revise that policy,” Mr Ggoobi, is also the Finance ministry permanent secretary, said.

“The word economics means economizing. It is about working within your limits. The government is actually cutting expenditure. It started years ago and it is happening. We want to reserve some resources for business and wealth creation. We need the support of all stakeholders in order to reduce expectations and reserve some resources for investment in wealth creation,” he added.

Mr Ggoobi said the government has also cut expenses in the first quarter of the financial year 2022/23 to support monetary policy actions.

“We want to align ourselves to the monetary policy,” he said, adding that governing isusing sound appropriate fiscal and monetary policies as well as cutting expenditure.

“We have resisted the temptation by people to go away from economics to common sense,” he said, explaining why they resisted providing subsidies and  price controls especially on fuel.

World Bank Country Manager Mukami Kariuki commended government of Uganda for prioritising macroeconomic stability over short term solutions but also urged it to close gaps by strengthening social protection systems to support the vulnerable and also strengthen education and health systems.

Mr. Tom Sengalama, the Team Leader – Nature, Climate, Energy and Resilience at UNBS, urged government not to ignore the issue of climate change.

“Business as usual isn’t going to take us anywhere. Deforestation and soil erosion have caused significant losses to Uganda. If this trend continues, the dream of attaining a middle-income status may not be easily attainable,” he said.

“We want to balance our three quadrants of social-economic growth. This economic growth should be inclusive and touch all aspects of life. We are looking at production & consumption systems that are socially and environmentally sustainable,” he said.

Mr Ggoobi’s remarks as the government continues to spend large sums of money to purchase a fleet of vehicles, fuel and oil lubricants and pay for its maintenance.

According to the 2021/22 financial year budget, government doled out Shs714b towards purchasing vehicles for public servants and politicians in the country.

The cost consists of the following; fuel, lubricants and oils (Shs257.4b), vehicle maintenance (Shs110.6b) and transport equipment (Shs346.5b).

Of this, Parliament received a vote of Shs127b, the Defence ministry got a vote of Shs161b and Uganda police Shs62b.

The Office of the President received Shs20b while the Health ministry was allocated at least Shs10.9b and State House Shs21b.

According to records of the Auditor General’s report for the 2020/2021 financial year, government spent nearly Shs118b to purchase vehicles in the last three financial years.

This sum excluded costs on fuel, lubricants and maintenance of the fleet.

The report further revealed that about 130 government vehicles procured at a cost of Shs33.9b had engine capacities higher than what was recommended.

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E-MOBILITY MARKET IN UGANDA EXCITES NETHERLANDS, A STAKEHOLDER IN SHELL PLC

Stakeholders to meet over Uganda's Electric Vehicle Charging Ecosystem

ugstandard.com, August 29, 2020, 03:34PM, KAMPALA — Local and international stakeholders are set to meet in Kampala to discuss the possibility of setting up a scalable Electric Vehicle (EV) Charging Ecosystem in Uganda.

File Photo/Courtesy: Prospect for Shell debuting the e-mobility Market in Uganda.

The objective of the engagement planned at Kabira Country Club in Kampala on Tuesday (August 30) is to consult with key stakeholders from the public and private sectors and provide input on how to develop a viable electric vehicle charging ecosystem in Uganda.

The Ministry of Energy and Mineral Development (MEMD) is coordinating the event hand-in-hand with the Embassy of the Kingdom of the Netherlands.

In a July 20 presidential address, President Museveni, highlighted Uganda’s commitment to pursuing electric mobility as an alternative and a long-term solution to Uganda’s recent challenges with escalating oil and gas prices.

On the other hand, promoting Environmentally Friendly Transport Solutions is Uganda’s aspiration in Vision 2040, the National Development Plan III, and the NRM Party Manifesto 2021 – 2026.

“It will be a roundtable discussion, focusing on the broad range of electrification of transport (buses, personal vehicles and motorcycles),” explains the MEMD Permanent Secretary, Irene Bateebe. “We note that the availability of EVs and the necessary charging infrastructure have to move in tandem. The low uptake of EVs can, among other reasons, be attributed to the lack of public EV charging infrastructure and vice versa, making this a chicken and egg dilemma.”

An eMobility Taskforce was recently established with key stakeholders to boost electric mobility in Uganda.

The Tuesday roundtable is part of an ongoing feasibility study by NTCS GreenBee, a Dutch consulting firm on energy and electric mobility in the country. The Netherlands Enterprise Agency sponsors the study in collaboration with Kiira Motors Company and MEMD.

The Minister of State for Energy, Okaasai S. Opolot, said the establishment of EV Charging Infrastructure poses an immense potential to utilise the surplus hydropower in the country and would “enable Uganda to leapfrog toward Electric Mobility and sustainable transport solutions”.

“A well-planned network of charging stations with sufficient energy capacity is urgently needed for the market to build trust for potential EV-buyers that they can always charge, as well as a scalable market model for EV charging that will attract investors and new businesses,” he adds.

According to NTCS’ Area Director Africa, Bas Hoefman, once the transition is supported by government initiatives, clear policies and regulations, funding, and private sector investments, “a standard model could be implemented here, and Uganda will have a bright future”.

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UGANDA GOVERNMENT TRIGGERS TIME BOUND, MAKE OR BREAK LEGISLATION WHILST ABLY PARTICIPATES AT THE RECENT 5TH ANNUAL LAW CONFERENCE

Inside the New  Bills introduced by Government

independent.co.ug, Kampala, Uganda, August 27, 2022, 07:00AM| THE INDEPENDENT | Government has moved a step in realizing President Museveni’s legislative agenda for the financial year 2022/23 with five Bills tabled on Wednesday, 24 August 2022.

File Photo/Courtesy: The House will process the Key Bills

The Bills include the Anti-Money Laundering (Amendment) Bill , Partnerships Act (Amendment) Bill  , Trustees Incorporation (Amendment Bill),Cooperative Societies (Amendment) Bill and the Insolvency (Amendment) Bill.

Other in the offing:

Companies (Amendment) Bill, 2022

Terrorism

A proposed two clause amendment to the Anti-Terrorism Act intends to create the crime of ‘proliferation financing’, which is with respect to nuclear, biological and radiological weapons.

Clause 1 of the amendment seeks to amend Section 9 of the principle Act by inserting Clause 9B to prescribe for the offence and its penalty.

“A person or organization commits the crime of proliferation financing where the person or organization (a) makes available an asset; (b) provides a financial service or (c) conducts a financial transaction and the person knows that or is reckless as to whether the asset, financial service or financial transaction is intended in whole or part…to facilitate any of the activities in subsection 2,” reads Clause 1(1).

Clause 2 lists the activities as the manufacture, production, possession, acquisition, stockpiling, storage, development, transportation, sale, supply, transfer, export or shipment of nuclear, chemical or biological weapons.

Clause 1(3) prescribes the penalty to be imprisonment for a term not exceeding 20 years, or a fine of Shs10 billion or both such imprisonment and fine.

Money laundering

With concerns from Deputy Speaker, Thomas Tayebwa during the Wednesday 24 August 2022 sitting regarding Uganda’s absurd classification under the grey list for countries where illegal money gets safe haven, government now moves to tighten the noose around culprits.

Clause 1 of the Bill places the responsibility of ensuring financial institutions or persons coming into contact with suspect finances to be risk alert and develop capacity to forestall such transactions under the supervision of the Financial Intelligence Authority (FIA).

Non-compliance invites biting sanctions including a Shs30 million fine on the person responsible for ensuring compliance.

The amendment also widens the scope of crimes to align with the proposed amendments under the Anti-Terrorism (Amendment) Bill by incorporating the crime of ‘proliferation financing’.

On the Cooperative Societies (Amendment) Bill, just like the Trustees Incorporation (Amendment) Bill, the amendments seek to answer a long held trusts law issue surrounding the definition of beneficial owners, whose definition has been expanded in relation to estates planning and trusts properties.

The Bills are sponsored by government, through Justice and Constitutional Affairs Minister, Norbert Mao.

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Highlights of the Recent Uganda Law Society, 5th Annual Law Conference 👇🏾

YouTube Video | Uganda Law Society : 5th Annual Law Conference, Day 1

YouTube Video | Uganda Law Society : 5th Annual Law Conference, Day 2

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UGANDAN YOUTH CATAPULTED AS THE VANGUARD FOR THE COUNTRY'S FOURTH INDUSTRIAL REVOLUTION AGENDA

 

YouTube Video | Uganda Broadcasting Corporation : Commemoration of International Youth Day 2022 👇🏾

NMS+ Exhibited at Commissioning of Regional Communication Infrastructure Program

campusbee.ug, August 26, 2022 | National Medical Stores (NMS) has exhibited its latest technology which allows public health facilities to place their orders for medicines electronically and have them delivered in time and right quantities.

The new e-services procedure NMS+ has replaced the paper-based requisition forms, which were slow, tedious and time-consuming and leading to the delayed supply of medicines in health facilities.

Officials now say NMS+ will improve accountability in practices of procurement, storage and distribution of medicines and medical supplies in Uganda.

NMS, which is taking part in the e-government exhibition in Gulu, says NMS+ system has seen hospitals begin ordering essential medicines and medical supplies directly from NMS through an online portal accessible at the health facilities.

“The online portal contains the procurement plans for medicines and health supplies of health facilities,delivery schedules and utilisation reports,” said NMS ICT head, Mr Steven Kisuze.

The health facilities using the NMS+ digital platform including National Referral Hospitals, National Institutes, General hospitals, Regional Referral Hospitals and Health Centre IVs.

NMS said they have engaged partners to provide data transmission services to health facilities which are not connected to the internet to be able to send their orders to NMS.

“The automation of procurement, storage and delivery of medical supplies is a great performance indicator of the government’s ability to maintain a healthy and productive population that contributes to socio-economic growth and national development,” said Kisuze.

“NMS+ represents a new way of doing business through the automation of most of the business processes.”

Previously, health facilities would manually write to NMS headquarters providing details of the required medicines which was subject to human error.

However, the adoption of modern technology has helped NMS improve its estimation of current and future needs as a basis for procurement planning and budgeting processes.

“Health facilities are able to confirm receipt of items delivered against their orders, clearly indicating what was received versus what was ordered. As a result, NMS is better placed to manage backorder updates to the health facilities,” said Kisuze.

He also spoke about the client self service portal (CSSP) which enables health facilities to view their procurement plans and budget utilization in real time.

“With CSSP, health facilities are now able to quickly create orders, review and submit to NMS with limited human error,” said Kisuze.

Public health officials say the CSSP functionality enables them to receive notifications on reminders for orders due in cycle, the order statuses and are able to confirm receipt of items delivered against their orders.

President Museveni is presiding over today’s e-government exhibition and grand commissioning of the Regional Communication Infrastructure Program (RCIP).

The event is being held alongside the International Youth Day celebrations. The E-government Expo Exhibition is running from August 26-27 at Kaunda Grounds in Gulu City.

At this exhibition, Ministries, Departments and Agencies (MDAs) are showcasing their e-services and the journey of progress.

The Expo has attracted both public and private sector players: MDAs, Academia, Innovators, BPO’s , and Fintech companies showcasing the future in digital governance and also providing E-services.

NITA-U boss, Dr Hatwib Mugasa said a total of 1,606 Kms of Optical Fibre Cable were added on-to the Government National Backbone Infrastructure (NBI) and connectivity extended to a total of 725 Ministries Departments and agencies (MDAs), District Local Governments (DLGs) and target user groups.

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PARISH DEVELOPMENT MODEL (PDM) DATA COLLECTION HURDLE SURMOUNTABLE BY RECOURSE TO THE UNIVERSITY GRADUATE RESERVOIR

Gov't Should Use Makerere Students to Collect Data for PDM Implementation – Prof. Nawangwe

File Photo/Courtesy: Prof. Barnabas Nawangwe, Vice Chancellor, Makerere University.

chimpreports.com, August 26, 2022 | The Makerere University Vice Chancellor, Prof Barnabas Nawangwe has advised Government to use Makerere students to collect data for the implementation of Parish Development Model (PDM) before further roll-out of the programme is done.

Nawangwe who on Thursday was officiating Makerere University Business School (MUBS) public lecture to commemorate Makerere’s 100 years of excellence, said that the University has over 50,000 students, and these should have been sent to their respective parishes to collect data for PDM roll-out.

YouTube Video | e-learning MUBS : MAK @100 Public Lecture

“Take an example of the Parish Development Model. It is a very good idea, but it has been taken over by politicians. Now you see what is happening. And for us in academia we are seated and looking on. And you see people commenting [that] this is going to fail. You are part of the academia, and you are saying this is going to fail. You should be saying [that] for this to succeed, we should do the following. And that is what we should do as University,” he said.

“I have told the team that is looking at how Parish Development Model should work. And I have told them that Makerere alone plus MUBS, we have over 50,000 students. Why don’t we send these students to all the parishes, and they collect the data that is required to plan properly for the Parish Development Model. We are sending money to the parishes, we don’t even know what people there do, what best activity they should engage in, and after five years, we shall say, it has also failed like the others. But we can save it as universities,” Nawangwe said.

Nawangwe’s advice comes barely a month after the Uganda Bureau of Statistics (UBOS) asked Government to halt the planned release of funds for PDM implementation until data for beneficiaries is collected.

The UBOS Executive Director, Dr Chris Mukiza, warned that the data that had been collected by the local leaders was invalid, and reiterated that the country was not prepared for PDM roll-out.

“We shall not advise the government to release the money now because we have not completed the collection of data across the country….. Until we get the right data, the government cannot release this money,” Dr Mukiza said.

PDM is a Government poverty eradication, and job creation programme.

The PDM aims to help people from parish level to increase their household incomes and joining the money economy. It is an extension of the-whole-of government approach to development as envisaged under the National Development Plan III, with the parish as the lowest administrative and operational hub for delivering services closer to the people, and hence fostering economic development.

File Photo/Courtesy: Prof. Wasswa Balunywa, MUBS Principal, delivering a keynote Address at the Public Lecture.

MUBS Principal, Prof Waswa Balunywa was the keynote speaker at the event.

The PDM aims to lift the 39% of Uganda’s population from the subsistence to money economy and has seven pillars of; Production, Storage, Processing and Marketing; Infrastructure and Economic Services; Financial Inclusion; Social Services; Mindset change; Parish Based Management Information System; and Governance and Administration.

In its maiden year, 2021/22 financial year, the Government sent 17 million shillings to each parish as revolving fund.

In the 2022/23 financial year, the 17 million was supposed to be increased to 100 million shillings.

Under the plan, 100 million shillings is sent directly to the Sacco accounts in each parish, from which households can borrow and invest in income-generating activities.

The PDM which is designed to alleviate poverty at parish level looks to failing in its initial stage of implementation.

File Photo/Courtesy: Prof. Barnabas Nawangwe and Prof. Wasswa Balunywa attending the MUBS Public Lecture,Thursday, August 25, 2022.

Prof Barnabas Nawangwe and Prof Waswa Balunywa attending the MUBS public lecture on Thursday.

On Tuesday this week, the Minister of State for Finance, in charge of Planning, Amos Lugoloobi told Parliament’s Finance Committee that government would pay PDM monies in installments due to lack of cash.

Members of the committee said that whereas the Government promised to send money to parishes, to date, the parishes have not received the money, while others have received less than promised.

Meanwhile, at the public lecture at MUBS, Nawangwe challenged the academia to do more research, and be innovative to find solutions to challenges facing this country, such as high population growth, unemployment, poverty, diseases, climate change among others.

Nawangwe who hails from Busia District, made a reference to his own district, saying that as he grew up, his home was surrounded by bushes. However, due to rapid population growth, the area has turned to be a “huge urban slum.”

“That is frightening. And if we don’t do anything about it, then we must know that our children and grandchildren will be doomed. We have a very high population growth, we have got climate change, our soils are exhausted, and we have new emerging diseases which were not here before. So, we must research on these issues. Nobody is going to come from America or Europe to research on this. If we want this huge population to thrive in this small land, we must do research and look for solutions,” he said.

At Makerere, Nawangwe said, they are emphasizing research and innovations.

He also said that the Ugandan people must not leave it to politicians to find remedies to Uganda’s challenges, noting that all over the world such problems are solved by the academia.

“It is our responsibility to do that,” he said.

File Photo/Courtesy: Cross Section of Participants at the MUBS Public Lecture, Thursday, August 25, 2022.

The MUBS public lecture took place at MUBS on Thursday.

Giving an example of South Korea which is the 11th biggest economy in the world with 50 million people, Nawangwe said the East Asian Tiger has been able to attain rapid growth due to research and innovation.

“We were richer than Korea in 1960. How come? The simple answer is discipline and hard work. Once we solve that, we can also take off, and be like the other countries that we admire. We must do research, and look for solutions to these problems, engage in innovations to create jobs for very many young people that are coming up. Let us embrace research, let us embrace innovation, let us take charge of the development of our country,” he said.

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FROM RHETORIC TO ACTION – FIRST NATIONAL ICT JOB FAIR LAUNCHED AT THE FREEDOM SQUARE, MAKERERE UNIVERSITY

Jobs, Internships and Mentorship Opportunities Dominate the ICT Job Fair Exhibition at Makerere University

campusbee.ug, Noeline Nabukenya, August 14, 2022 | Huawei Technologies in collaboration with Makerere University and the Ministry of ICT and National Guidance successfully launched the ICT Job Fair exhibition at Makerere’s Freedom Square.

File Photo/Courtesy: The Vice President, H.E. Hon. MJR. (Rtd) Jessica ALUPO (on red carpet in charcoal grey suit) flanked by among others the Chinese Ambassador to Uganda, State Minister for ICT, the Vice President of Huawei South Africa Region, Permanent Secretary – Ministry of ICT and National Guidance, Vice Chancellor – Makerere University, the Permanent Secretary/Representative – Ministry of Gender, Labour and Social Development; and, Commissioner for Communication and Dissemination – Ministry of ICT and National Guidance.

YouTube Video| Uganda Broadcasting Corporation : National ICT Job Fair – More Incubation Centers to be established for youth to build solutions👇🏾

At the 2-day ICT innovation exhibition held from Friday to Saturday (August 12th to 13th), students benefited  from internship placements, job opportunities, Mentorship and free short courses granted by companies and organizations that graced the event.

YouTube Video | Uganda Broadcasting Corporation: Launch of the National ICT Job Fair at the Freedom Square, Makerere University, August 12 - 13, 2022.👇🏾

The Uganda Institute of Information and Communications Technology – Nakawa enrolled students to study free short courses in a series of ICT programmes.

Programmes like Get Connected, Introduction to Cyber Security, Cloud Security, Networking Essentials among others were some of the free 2-weeks short courses that Makerere students were given.

According to the beneficiaries of these programmes, this was a great opportunity to help them polish on what they had already studied in their respective courses offered at the University.

However, majority of the students who were considered in regard to this opportunity are those from the College of Computing and  Information Sciences (CoCIS) who literally have an Information Technology (IT) background.

Their counterparts were availed with mentorship opportunities and Counseling classes that were offered by different companies.

Among the exhibitors included Huawei Technologies, Centenary Bank, Stanbic  Bank, Posta Uganda, ABSA Bank,  Yellow Card, Blue Streams Solution, Rocket Health, Jumia, URSB, Airtel Uganda,  Vision Group among others.

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Uganda Government Lauds the 2022 FinTech Landscape Exhibition

Speech by Joyce Nabbosa Ssebugwawo, the state minister for ICT at the 2022 FinTech Landscape Exhibition

Hon. Joyce Nabbosa Ssebugwawo, the state minister for ICT has challenged the youth to use technology to find solutions to pressing issues such as employment and poverty.

File Photo/Courtesy: Hon. Joyce Nabbosa Ssebugwawo, State Minister for Information,Communication, Technology (ICT).

The minister made these remarks while giving her speech at the 2022 FinTech Landscape Exhibition held at Mestil Hotel. She was the guest of honour.

YouTube Video | Uganda Broadcasting Corporation : FinTech Exhibition – Minister Nabbosa commits on Internet Infrastructure👇🏾

Below is her full speech.

I am so thankful and grateful for choosing me as your chief guest at this 3^rd Fintech Landscape Exhibition 2022.

We are very happy to see that Information and Communication Technology (ICT) has transformed the financial infrastructure not only in Uganda but worldwide. For example, Africa and other Emerging Markets have utilised ICT-based financial services to enable the delivery of innovative, inclusive, affordable and instant financial products to the poor and vulnerable groups.

Digital financial services have helped to complement physical banking infrastructure which has traditionally been used. This has enabled the establishment of closer relationships with customers and the creation of convenience tailored offerings. Customers have benefited from more personalised, secure and affordable financial services. In addition, the government of Uganda is developing universal financial systems that are vital to sustainable and inclusive growth.

Digital Financial Services (DFS) support sustainable and inclusive growth by facilitating the delivery of affordable and innovative financial products to poor and vulnerable groups. Additionally, Digital Financial Services facilitate the creation of efficient and effective payment infrastructures. The government is working to ensure that regulatory frameworks balance support for digital financial service innovation whilst managing systemic risk and compliance with Money Laundering/Combating the Financing of Terrorism (AML-CFT) standards.

The digitization journey is a beautiful and longstanding one that has seen all of us transform as a nation from the times of wired telephones, the voice only enabled mobile devices to now micro hand banks that enable citizens to pay for bills, utilities, and other services in the comfort of their bedrooms, workstations or offices.

The Ministry of ICT and National guidance in partnership with other government agencies, donors, private investors and innovators have been pivotal at ensuring internet connectivity becomes for seamless, democratic, and more affordable every year. For instance, a gigabyte of data that costed an average of 60,000 Uganda shillings in 2011 now costs an average 5,000 Shillings and this is only going to get more affordable.

We applaud HiPipo for championing digital, Financial Technology (FinTech) innovation and instant and inclusive payments systems (IIPS) across Africa under the #IncludeEveryone Program in partnership with the Gates Foundation among other partners.

YouTube Video - Exhibition Climax Details | METMEDIA UG : Culmination of the 40days40Fintechs Initiative – Season Three

👇🏾

We clearly appreciate that HiPipo advocates for and supports the adoption of digital financial services (DFS) through advising and mobilising key financial inclusion stakeholders. For example, this year, HiPipo delivered the third season of #40Days40FinTechs event, which was organised in face-to-face locations in Uganda, Kenya and Tanzania covering areas, such as Mojaloop, and offering guidance on Level One Project principles.

I am glad to officiate the culmination of season three of 40 Days 40 FinTechs initiative here at the third FinTech Landscape Exhibition.

Thanks to the HiPipo Include Everyone initiative, guidance on Level One Project and its principles and Instant and Inclusive Payment Systems has been shared over the years and  there’s growing opportunities such as the rising understanding of stakeholders and users alike of the;

I. Need for making use of Digital Financial Services to support the establishment of sustainable and inclusive growth by facilitating the delivery of affordable and innovative financial products to poor and vulnerable groups.

II. FinTechs and their collaborators are making it easier and cheaper for customers to engage with the formal financial inclusion ecosystem.

III. FinTechs are encouraging transactional account usage through intuitive mobile apps (with a few growing super apps) and USSD-based innovations thanks to the momentum this initiative is causing to the market.

IV. Digital Financial Service Providers and FinTechs are partnering to provide cheaper, timely credit by rethinking creditworthiness, and remodelling the traditional bureaucratic lending models.

V. Thanks to the HiPipo Include Everyone Program, and the viral conversation on interoperability and collaboration, Digital Financial Service stakeholders are reducing credit and insurance costs for smallholders and other excluded groups. Things such as micro-insurance policies have been introduced.

VI. This exceptionally useful Include Everyone trend is helping push FinTechs and Banks to wave unexpected costs on loans and other financial services that low-income users used to incur to onboard onto formal financial rails.

On my behalf and on behalf of the Ministry of ICT and National Guidance, and the government of the Republic of Uganda, I wish to congratulate participants of season three of the 40 Days 40 FinTechs initiative and also take this opportunity to Thank HiPipo; the organisers of this program and their partners the Gates Foundation, Mojaloop Foundation, CyberPLC, Modusbox, Crosslake Technologies and #LevelOneProject for putting up such an exceptional event.

For GOD and My Country.

Hon. Joyce Nabbosa Ssebugwawo

Minister OF STATE FOR ICT

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EABC-COMESA-SADC COUNCILS CALL FOR ELIMINATION OF BOTTLENECKS THAT CURTAIL INTRA-AFRICA TRADE

EABC – COMESA – SADC BUSINESS COUNCILS CALL UPON GOVERNMENTS TO DISMANTLE INTERNAL TARIFFS TO BOOST INTRA-AFRICA TRADE

➖Let's move AfCFTA from Rhetoric to Action 

File Photo/Courtesy: Participants at the East African Council, consultative meeting between East African Community, South African Development Cooperation and the Common Market for Eastern and Southern Africa in Kigali on August 10, 2022.

psfuganda.org, EABC Team | Wednesday, 10th August 2022 Kigali, Rwanda: - Speaking at the Consultative meeting on Implementation of Regional Business Councils on the African Continental Free Trade Area (AfCFTA) Agreement organized by East African Business Council (EABC) with support from TradeMark East Africa (TMEA), Mr. Dennis Karera, EABC Vice Chairman & AfCFTA Focal Point said: “Our dream is to see the AfCFTA happen.”  

File Photo/Courtesy: Mr. Dennis Karera, EABC Vice Chair – Rwanda & AfCFTA Focal Point, delivering a keynote address at the opening of the East African Business Council, consultative meeting between East African Community, South African Development Cooperation and the Common Market for Eastern and Southern Africa in Kigali - Rwanda on August 10, 2022.

Vice Chairman Karera stated, intra African trade is less than 20% and called for decisive actions for the continent to move from rhetoric and practically trade under AfCFTA. 

The Consultative meeting on Implementation of the African Continental Free Trade Area convened business leaders from EABC – COMESA – SADC Business Councils to chart out a road map and priorities set to accelerate the actual implementation of the AfCFTA Agreement.

The Chief Guest, Hon. Dr. Jean Chrysostome NGABITSINZE, Minister of Trade and Industry-Rwanda said “Africa contributes only 3% to global trade.” Hon. Dr. NGABITSINZE said, “Agreements influence the quality and quantity of our trade, it is the right time to put actions to our strategies and AfCFTA.” He expounded that Rwanda has been picked among countries set to start trading under the African Continental Free Trade Area (AfCFTA) framework in a pilot phase.

In her remarks, Ms. Patience Mutesi, TMEA Country Director-Rwanda, said “TradeMark East Africa is committed to partnering with the Government and Private Sector to remove barriers to trade and improve the capacity of businesses in East Africa and the continent at large.”

She stated TMEA has partnered with the AfCFTA Secretariat in Ghana on key initiatives to make trade happen in Africa under the AfCFTA. She expounded that development partners have a role to facilitate public-private dialogue on AfCFTA, support evidence policy research and transport inter-connectivity in Africa.

Representing the EAC Secretary General, Al Hajj Rashid Kibowa, EAC Director of Trade urged EABC-COMESA and SADC business councils to ensure private sector institutional frameworks under AfCFTA are up and running and their agenda should be streamlined from the national, regional the continental level.

Al Hajj Rashid Kibowa further explained said the EAC bloc is aligning the AfCFTA to the new EAC Common External Tariff.

The private sector plays peculiar roles in the production of goods & services, exports/ balance of payment, job creation and revenue contribution critical for the delivery of social services. 

On her part, Ms. Simone Assah Kuete, Regional Integration and AfCFTA Cluster, UNECA, Sub-Regional Office for Eastern Africa urged the private sector to make their voice heard in the Phase II negotiations of AfCFTA Agreement on investment, competition, Intellectual Property Rights (IPR).

The Ukraine war, rising debt levels, finalization of Rules of Origin and Treatment of products produced in Special Economic Zones are issues challenging the implementation of the AfCFTA.

Mr. Dickson Poloji, CEO of COMESA Business Council recommended sensitization & trainings on the African Trade Observatory to enable businesses to access information and monitor the implementation process of the AfCFTA.

In his remarks, Mr. Jaswinder Bedi, EABC Vice Chair said called upon African Governments to dismantle internal tariffs, embark on value addition and reduce the costs of logistics for intra Africa Trade to grow. Mr. Bedi explained Africa contributes about 8% of the global cotton production and export nearly 70% in raw form. He said due to poor integration of industrial value chains and inefficient logistics, it is cheaper to source industrial raw materials outside Africa citing that importing cotton from Mali to Mombasa takes four (4) months.

Ms. Damali Ssali, Chief Programmes & Projects Officer, Private Sector Foundation Uganda, recommended for more Business To Business (B2B) engagement between African countries to learn and tap into the vast opportunities.

File Photo/Courtesy: Ambassador Damali Ssali, Chief Programmes and Projects Officer, Private Sector Foundation Uganda.

Mr. Victor Ogola, Deputy Chief Executive Officer, KEPSA recommended for deeper trade analysis on the implications of the products under the AfCFTA exclusion list to be done to ensure that intra-Africa trade opportunities are not stifled.

Ms. Pheona Wall, Chairperson of Uganda Law Society & EABC Board Member called for the need of clear sanctions for non-implementation of the AfCTFA.

Among the road map priorities outlined by the EABC-COMESA – SADC Business Councils to be presented to the AfCFTA Secretariat include: Private sector involvement in AfCFTA negotiations, policy formulation & review; Capacity building of MSMEs, youth & women; Curbing illicit trade & counterfeits; Free movement of services & service providers, Operationalization of Mutual Recognition Agreements professional service providers, Deeper Analysis of AfCFTA tariff book; Business missions between the different RECs in Africa, Adoption of technology; Harmonization & accreditation of academic qualifications; Use of Variable Geometry to fast-track the implementation process of the AfCFTA, Promoting Value Chains that have comparative advantage and enhancing complementarity in production patterns; Harmonization of standards, Addressing transport and logistics bottlenecks; Adoption of One Network Area for telecommunication, Open Skies; Adoption of multi-model transport mechanism; Finalization of AfCFTA National Implementation Strategies; Finalization of AfCFTA tariff offer schedules and schedules of specific commitments in services; Domestication of AfCFTA instruments, Formulation of Africa Strategy to expand exports & Africa import substitution strategy; Studies on new market opportunities under the AfCFTA; Private sector, Developing resilient continental supply chains to reduce dependency on global supply patterns and disruptions and climate change; Developing platform for real-time information sharing between RECs business councils, Institutionalize the involvement and participation of youth and women in AfCFTA, Organization of Cross border investment forum and Africa Private Sector Forum.

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By EABC Team

SUPPLEMENT

🌐 iSpecial Mobility Ecosystem

Uganda Government Ministries, Departments and Agencies (MDAs) Urged to Enhance Domestic Mobility Value Addition

Museveni Orders All Gov't Agencies to Buy Locally Assembled Vehicles

chimpreports.com, Christopher Kiiza, August 06, 2022 | President Museveni has ordered all Government Ministries, Departments and Agencies to procure locally assembled cars.

Museveni issued an order on Friday evening at State House Nakasero while addressing the nation.

File Photo/Courtesy: H.E. and C.I.C, GEN. (Rtd) Yoweri Kaguta Museveni Tibuhaburwa, President of the Republic of Uganda

The President issued an order after the Director of Zhong Tong Bus Industries in Namanve, Metu Katabazi informed him that the Industry assembles vehicles especially buses and trucks, but Ugandans continue to import cars.

YouTube Video | Uganda Broadcasting Corporation: Presidential Address on Matters of National Importance, State House - Nakasero, Kampala, August 05, 2022.

“Our Industry was established in 2018, and the reason it was established was to serve mankind. I looked at the situation of Uganda where from the 1960s, Uganda was importing complete bus units from a neighbouring country in East Africa, and we continue to import even today even though I have a factory in Namanve,” said Katabazi.

He added that he established the factory in order to fabricate buses for Uganda so that the country is self-sufficient in bus manufacturing and possibly also for neighbouring countries.

However, Katabazi told Museveni that Government Agencies have not supported his initiative, yet they should be at the forefront of implementation of Buy Uganda Build Uganda (BUBU) Policy.

He noted that a very few Government Agencies that include; National Medical Stores (NMS), Ministry of Health, Uganda Prisons Services, and Uganda Virus Research Institute have procured buses from Zhong Tong Bus Industries.

In 2018, Government banned the importation of vehicles older than 8 years, on grounds that used vehicles are expensive to maintain, and also the lead causers of pollution.

“Your Excellency, you banned the importation of complete buses from outside Uganda. And you did this in order to support our Industry. But we have been getting very few orders from Government because, as Government policy, we thought the government should be the first to support our industry,” Katabazi complained to the President.

Museveni based on Katabazi’s compliant to issue an order that all Government Departments must procure locally assembled cars from either Zhong Tong Bus Industries or the National Enterprise Corporation (NEC) of the Uganda People’s Defence Forces (UPDF) whose assembling plant was launched by President Museveni in Nakasongola last week on July 27.

“All Government Departments will buy either from Katabazi or from NEC,” Museveni ordered.

Metu Zhong Tong Bus Industries which is Uganda’s first bus assembly plant is hoped to cut down the cost of importing buses from outside the country.

The passenger buses are built by Metu Zhong Tong Bus industries in Namanve in partnership with Zhong Tong Company of China.

The company started in 2018, and in 2019, President Museveni officially opened the factory.

Katabazi said that Zhong Tong Bus Industries assemble buses that meet international standards.

“Now, we are fabricating buses to international standards. And to prove that, I one time fabricated buses for the Tata Corporation. And they accept that this is standard equivalent to what they do in India,” he said.

Katabazi also revealed that 50% of the materials used to assemble the buses are sourced from the local market.