AUSTERE BUDGET FRAMEWORK PAPER FOR FY 2023/24: FOREIGN CONCESSIONARY FACILITIES AND DOMESTIC COMMERCIAL FACILITIES FOR SOVEREIGN AND PRIVATE SECTOR BORROWING RESPECTIVELY – SUBJECT TO MINIMAL EXCEPTIONS

Government tables Shs49.9t budget

What you need to know:

monitor.co.ug, December 24, 2022, 11:04AM |The government yesterday tabled the draft budget estimates for the Financial Year 2023/2024, increasing projected expenditure by Shs1.8 trillion.

The budget is projected to increase from Shs48.1 trillion in the current financial year to Shs49.9 trillion in the coming one.

Finance minister Matia Kasaija yesterday tabled the Budget Framework paper for the financial year 2023/2024 on the floor of Parliament in line with the Public Finance and Management Act (PFMA as amended). The law mandates the Finance minister to table the Budget Framework Paper by December 31.

YouTube Video | NTV Uganda: 2023/24 Budget projected at UGX 49.9 trillion 👇🏾

The Budget Framework Paper (BFP) is the overall strategy document for the budget, and provides the link between the government’s policies and the annual budget. 

It outlines revenue projections; the overall resource envelope for the medium-term; priority interventions; and proposed sectoral expenditure plans. But these estimates have been known to change over the past years, signalling that the budget could hit the Shs50 trillion mark.The BFP for the current fiscal year had put the budget at Shs43 trillion, but rose to Shs48.1 trillion.

The Shs49.9t budget will be funded through domestic revenues (Shs28.8 trillion), budget support (Shs2.4 trillion), domestic borrowing (Shs1.5 trillion), external project support (Shs8 trillion), domestic refinancing (Shs8.7 trillion) while revenue from local governments will amount to Shs238 billion.

While the resource envelope has increased, the funds available for government expenditure reduced from Shs37.4 trillion to Shs37.2 trillion.
About Shs8.5 trillion of the budget will go to debt repayments, up from the Shs7 trillion estimates of the 2022/23 BFP. Uganda currently owes Shs80 trillion.

“Over the medium term, external debt payments are projected to increase due to the increase in commercial loans over the last few years. Going forward, governments financing strategy is to reduce borrowing on commercial terms and focus more on concessional borrowing,” the BFP states.

Like the current budget, the government says the budget will focus on creating wealth among the people, and will run under the theme “Full monetisation of the Ugandan Economy through commercial agriculture, industrialisation, expanding and broadening services digital transformation and market access, same as one of the current financial year.

The documents indicate that the government will focus on, among others, import replacement, job creation, infrastructure investment, green growth and debt sustainability.
The government projects that the economy will grow at six percent from the current 4.7 percent, while inflation is expected to fall to 7.2 percent. The shilling is, however, expected to depreciate due to the global strengthening of the US dollar.

Deputy Speaker of Parliament Thomas Tayebwa yesterday sent the paper to the Committee on Budget for scrutiny.

 
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NSSF PANDEMONIUM – LEADERSHIP ACRIMONY PROMPTING A PROBE REIGNS OVER THE APPOINTMENT OF A SUBSTANTIVE MANAGING DIRECTOR

What you need to know:

New Vision Online App, December 22, 2023, Umar Kashaka👇🏾

Museveni orders probe into ex-NSSF boss Byarugaba – Source

What is going on at NSSF?

independent.co.ug, December 24, 2022, 10:10AM | Kampala, Uganda | THE INDEPENDENT & URN | The appointment early this month of Patrick Ayota as caretaker Managing Director at National Social Security Fund (NSSF), was supposed to be a temporary measure to allow the board and appointing authority conclude on either reinstating Richard Byarugaba as head or name a new chief. A decision on appointment of the Fund’s chief executive was actually expected before the lapse of Byarugaba’s and Ayota’s contracts.

File Photo/Courtesy: The Minister of Gender, Labour and Social Development, Hon.Betty Amongi

While Ayota was December 1 named the acting National Social Security Fund (NSSF) managing director and substantive deputy for the next five years, the contract of Byarugaba was not, with the board saying a decision would soon be reached on it.

What has followed have been accusations by NSSF stakeholders, including appointing authority Gender and Labour ministry. The New Vision has today even reported that President Yoweri Museveni has ordered a probe into affairs at the fund.

The NSSF board chairman Dr Peter Kimbowa added to speculation yesterday when he issued a statement titled “update on appointment of NSSF managing director”.

PRESS RELEASE: Update on the appointment of NSSF Managing Director

Kimbowa confirmed that the appointing authority is now conducting a due diligence exercise at NSSF.

" We would like to inform members, stakeholders and the public that the process leading to the appointment of a substantive Managing Director for the National Social Security Fund (NSSF) is still ongoing. Following consultations with various stakeholders, the appointing authority is conducting a due diligence exercise following the recommendations of the NSSF Board of Directors,” Kimbowa said.

"In due course, NSSF members and the public will be informed of the outcome of the due diligence exercise, and subsequently appointment of a Managing Director.”

File Photo/Courtesy: NOTU Chairman General, Usher Wilson Owere

NOTU raise red flag

Even after the National Social Security Fund-NSSF’s earnings were badly dented by COVID-19-inspired 20% premature benefits payout that saw annual interest for the first time in a decade dipping to a single-digit percentage, new fears are being raised that the fund is now being forced to use worker’s money to pay for activities of a government ministry, and a trade union body closely linked to a board member.

The National Organisation of Trade Unions -NOTU, the apex organization of workers’ associations, has raised a red flag over what could be siphoning of workers’ cash from the National Social Security Fund, NSSF. This comes after information surfaced that the other workers’ group, the Central Organisation of Free Trade Unions, COFTU, has asked the Fund for one billion Shillings to fund its activities.

The activities, according to the request include “enhancing awareness and training in financial literacy of Ugandans, enhancing cooperate social responsibility and mobilizing and engaging stakeholders,” among others.

As if a worker’s union going after workers’ statutory savings for its activities is not alarming enough, the government itself through the Minister of Gender, Labour and Social Development is said to be requisitioning six billion Shillings for basically similar activities, which has raised concern among the workers. It is not clear why the ministry did not budget for its activities to be financed by the Treasury/ Consolidated Fund and instead seek to use workers’ savings from a fund whose profitability has been severely affected by the COVID-19 fallout.

The NOTU Chairman General, Usher Wilson Owere says COFTU Secretary General Sam Lyomoki is taking advantage of the loophole at NSSF that has enabled the MOGLSD to access the money. Minister Betty Amongi earlier this year requested NSSF to avail her six billion Shillings through the Fund’s 2022/23 budget to allegedly promote its accountability and mobilization of savings.

File Photo/Courtesy: COFTU Secretary General and NSSF Board Member, Sam Lyomoki

Specifically, the funds would be used to “undertake budget monitoring and oversight of the key activities of the fund, diaspora mobilization to facilitate their voluntary savings under the fund, media engagements and benchmarking for skills development,” according to the letter.

Owere says that when then Managing Director, Byarugaba declined the request and notified the Minister of Finance, Planning and Economic Development. Owere claims this prompted Amongi to find a way of evicting Byarugaba from office.

He says that he protested to the Minister on grounds that Byarugaba’s contract was due to end in December and that she could not terminate it. But Minister Amongi has dismissed Owere’s accusation, indicating that he is just an angry man because he has been ejected from NOTU Leadership.

The request by Amongi has reportedly been included in the budget after a directive by the Acting Managing Director, Patrick Ayota, who was given a new contract as Deputy Managing Director. Owere alleges that Amongi also asked workers’ organizations to write petitions to her alleging corruption against Byarugaba, so as to strengthen the case for his dismissal. Lyomoki’s COFTU was one of those that wrote a petition.

This, according to Owere, shows that Lyomoki has found a way of accessing NSSF Funds because of his support of the Minister’s efforts against Byarugaba.

Lyomoki, who is also a member of the Board of Directors of NSSF said they have a Memorandum of Understanding with the Fund to “cooperate and work together to increase social security coverage, improve compliance rates for mandatory contributors and empower members,” among others.

He says the money will be for financial literacy activities, upgrading of the COFTU Information Management System, mobilizing and engaging stakeholders, and corporate and social responsibility and/or investment.

MD Byarugaba explaining eligibilty for midterm access at Serena recently. PHOTO NSSF MEDIA

Owere says that his opposition to these ‘illegal’ activities by Minister Betty Amongi is the reason NOTU is facing crises. A section of NOTU members recently held a meeting and voted to replace Owere as Chairman General accusing him of mismanagement and dictatorship, among others. He now says Minister Amongi is behind these controversies.

The Minister, in her response to these allegations, indicated that Owere is no longer the rightful leader of NOTU and therefore had no authority to speak for it. She admitted meeting with the NOTU leadership faction that is opposed to Owere, including one on Wednesday.

“When you say ‘NOTU’, who are you talking about? First, establish who the leadership of NOTU are!” she said, adding that she “chaired a meeting with people who have dislodged him from office, the reason he is annoyed.”

Amongi said the money she requested was for promoting partnerships between critical agencies like parliament, the Private Sector Foundation Uganda, Uganda Manufacturers Association, and labor organizations.

She is also yet to effect the ‘guidance’ by the Prime Minister that arose from the cabinet subcommittee meeting in which the president told her to see that Amongi reappoints Byarugaba. Owere says Minister Amongi should be investigated by a presidential team over her alleged activities and influencing resource allocation at the NSSF.

The NSSF Amendment Act 2021 made the Minister of Gender, Labour and Social Development a co-supervisor of the fund, responsible for the management and supervision of social security, while the Minister of Finance, Planning and Economic Development is charged with the supervision of the finances and investments.

By The Independent

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EMERGING ECONOMIES: CREDITORS DESTINED TO BE AUTHORIZED TO ACCESS RELEVANT STATE CAPTURED PERSONAL DATA TO SCORE EXISTING AND/OR POTENTIAL DEBTORS

Personal data ‘collateralization’ paraded to close financial exclusion gap

observer.ug, December 21, 2022, 01:32AM |Africa’s financial exclusion/divide remains wide. Two thirds of adults in sub-Saharan Africa don’t have access to formal financial services.

File Photo/Courtesy: Gracious customer service at a neighborhood Stanbic Bank – Authorized Agency.

Arguably, Africa is narrowing the gap through effective and innovative basic technologies such as mobile money payments and transfer systems. In 2021, the mobile money ecosystem was valued at $701.4 billion, according to official data, with a total of about 621 million accounts and a customer growth of 17 per cent.

The success story of mobile money has attracted investment deals valued above $2 billion, capturing three thirds of investments in the startup ecosystem. The World Bank considers financial inclusion as an enabler for at least seven of the 17 United Nations’ sustainable development goals (SDGs).

The potential and exponential growth of the mobile money ecosystems informs the ambitious regional and domestic regulation establishing structures to further exploit Africa’s financial technology potential.

One of the things that is going to shape money remittances, payments and access to capital for small business and families is the Pan African Payment and Settlement system (PAPSS), operating under the African Continent Free Trade Area Agreement (AfCFTA). It pushes to break border barriers when it comes to money remittances and transfers.

Noteworthy, the payment and settlement systems operating under the PAPSS will have to feed on big (consumer) data to minimize financial business risks. Therefore, African Union member states will need to open up on their data sharing and transfer legislations.

Whereas the World Bank recommends standards that can be implemented in domestic laws under Bali Fintech Agenda paper, to achieve the ambitious goals under the PAPSS, there must be a regional legal instrument that sets standards for data flow and data governance at a continental level since it is one of the identified risks in the ecosytem.

The Malabo convention is a silver bullet to achieve this since it offers a sufficient balanced space for economic and data protection and privacy interests, which is key for both players in the digital and financial ecosystem. That notwithstanding, the convention has not been ratified by the required number of member states to make it operational.

Noteworthy, a half of the African states have since enacted data protection laws regulating data sharing and incorporating best practices to both protect data and privacy of consumers and the digital market without stifling innovations such as ‘reputation collaterisation’ which rely on personal data.

Personal data including financial information is creating a “gateway” to access to financial services/products including credit by relying on credit referencing and credit scoring tools enabled by collated and curated financial information.

Today in Uganda, without valuable assets but with a creditworthy reputation, families and small and medium enterprises are able to access unsecured financial facilities that would otherwise only be available to propertied individuals. However, this has been ongoing without a clear regulatory legal and institutional framework.

On October 21, 2022, Bank of Uganda issued a directive to its supervised financial institutions to transit from financial cards to National Identification numbers/cards or alien cards as a mandatory requirement under section 66 of the Registration of Persons Act, 2015; a law that establishes Uganda’s National Identification and Registration Authority, a statutory body mandated to process, issue out and manage national identification system as a way of streamlining the credit services industry.

Subsequently, the central bank updated and issued regulations on credit reference business through the Financial Institutions (Credit Reference Bureau) Regulations, 2022. This legal regime ambitiously expands the scope of credit reference bureau business in the country and enables the sharing of personal and financial information among the actors involved in providing credit facilities within and outside Uganda.

This means that there is going to be big volumes of personal data (existing on national identification systems) and financial information available to facilitate access to financial services, including unsecured loans to financial consumers in agriculture and small-scale businesses.

There are human rights concerns with this development. Whereas credit reference and scoring are fronted as enablers of access to financial products, they have the effect of exacerbating discrimination. For example, defaulters in the ecosystem may be labelled high-risk consumers, just like well performers may be labelled low-risk.

However, self-preserved persons without financial information such as financial and employment history are likely to be discriminated against since credit reference and score tools are based on the variables above.

Personal data may be procured for credit reference and scoring purposes looking at the individual’s financial history, but later be repurposed by the actors in the credit reference market to directly market credit products to consumers labeled “low risk.”

The regulations require mandatory data localization, which can only be waived with permission of the central bank. The consequence is that the regulator must redefine what informed consent is and strictly implement and enforce the principles of minimality, adequacy and accuracy, accountability and transparency, quality of information, participation and data security as safety valves against abuse of consumers’ special information.

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OPINION: PLAUSIBLE POST-MIDTERM BENEFIT ACCESS – QUALIFYING BENEFICIARY EARNINGS STRATEGY (NSSFᐩᐩ)

What you possibly need to contemplate:

• Stem predatory Simple Interest earnings as per prevailing statutory provisions;
• Sprout protective Compound Interest earnings as per plausible securitization issuers.

Pensions regulator URBRA still disapproves NSSF Midterm Benefit Access

independent.co.ug, December 19, 2022 | Kampala, Uganda | THE INDEPENDENT | The pensions sector regulator URBRA insists that the decision to allow savers to withdraw up to 20 percent of their savings to cater for emergency financial distress was wrong and could have been avoided.

FILE PHOTO: Panelists at a recent URBRA symposium to mark 10 years. LEFT TO RIGHT; Gertrude Karugaba Wamala -Sebalu & Lule Advocates, Richard Byarugaba-NSSF MD, Benjamin K. Mukiibi- Director Research & Strategy URBRA, Gautam Bhardwaj- Co founder Pinbox Solutions

In March this year, the retirement benefits agencies in the country started implementing the new policy following a protracted debate between savers on one hand and the saving schemes and government on the other.

The policy change mainly affected the National Social Security Fund (NSSF) which had virtually the only qualifying savers as per the new policy, that allowed only persons who had saved for a total of 10 cumulative years and were above 40 years of age.

This necessitated the NSSF Amendment Act which would allow for the biggest fund in the region to pay out money under new qualifications. By the end of September 2022, about 440 billion shillings has been paid out since March,out of the earlier forecast 800 billion, if all those qualifying were going to successfully apply.

Benjamin Mukiibi, the Director Research and Strategy at the Uganda Retirement Benefits Regulatory Authority (URBRA) said most people who actually went for the money were those not in most need.

“When you look at the profile of those who accessed this money, they are the people who maintained jobs during COVID. Most of them did not need the money urgently, but needed to top on something like a vehicle,” Mukiibi said.

One of the reasons that the government, URBRA and NSSF gave was that if all people come for their benefits, the sector would slowdown to near collapse, and even greatly affect the returns at the end of the year since money was going to be withdrawn from the investments.

In September, when the NSSF year ended, 35 percent of the retirement benefits were mid-term access funds, unlike previously when almost all the payouts were lump sum.

URBRA CEO Nsubuga (left) and Finance Minister Kasaija talk to the press early this year about mid-term access. COURTESY PHOTO

However, Martin Nsubuga, the Chief Executive of URBRA said that they have noted that some people have realized that it was not prudent after all to rush for the money. Others are reported to have taken back the money after realising that they could after all continue managing without it.

Nsubuga said that some members actually wanted to prove that their savings existed at the Fund, not that they needed the money.

“Some have even taken it back. The message is getting deeper, people are appreciating the principle. Given the COVID era and demand some mode of financing, people have learnt they need another box for emergency. There was that fear that people’s money is not safe. People were able to access their money to confirm that their money is safe. We know the money is there, well invested, but some had their doubts,” he said.

He said many got 5% instead of the 20% to see if the new access initiative works.

Speaking at a media dialogue on the pensions sector, Joan Mugenzi, a Transformational Master Coach and Founder of Imagine Me Africa, said many people usually recklessly spend money they receive unplanned and the same happened with the Mid-Term Access funds.

She advised that retirees should as much as possible try to have an emergency fund especially in retirement, to avoid going for their retirement benefits to cater for needs they had not expected.

Since the law was formed allowing midterm access, there is fear that in case of another emergency, the government could again direct the savings schemes to allow savers access their benefits again.

It also means that whoever clocks 45 and a total of ten years of saving, is free to apply for the benefits, and therefore, the move was not for the COVID-19 pandemic related financial stress.

As a way of mitigating the effect of this and avoid the shocks on NSSF and other retirement benefits schemes, Nsubuga, the URBRA CEO, said that they are looking at using the NSSF law to give retirees their money in their bits, to cater for the risk of spending all the savings soon after receiving them.

“We think that this lump sum payment is not attractive. You do not need a prophet to tell you that after two years you will have wasted it. We are working on a policy initiative to preserve your funds, like products. We are speaking with the NSSF on other ways of preserving people’s savings and not getting it a lumpsum,” Nsubuga said.

Daisy Nabakooza, Chief Manager, Supervision and Market Conduct, said the regulator is allowing and encouraging innovation into products that will allow even NSSF savers have other products that can have diversified streams of cash.

She says that the retirement benefits housing mortgage scheme is one of the means aimed at ensuring meaningful and secure mid-term access to benefits.

****

URN

By The Independent

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MAKERERE UNIVERSITY GOES BARE KNUCKLES AT SOCIALIZING INVESTMENT KNOWLEDGE

Makerere set to open public investment centre

observer.ug, December 16, 2022, 01:15AM | Makerere University is preparing to open a public investment management centre that will serve government agencies, the private business sector and communities.

Speaking at the first-ever Entrepreneurs’ Business Breakfast Meeting, held in Yusuf Lule Central Teaching Facility, Makerere University recently, Prof Eria Hisali, the principal of the College of Business and Management Sciences (CoBAMS), said the centre will be officially opened in January 2023.

He added that it will be housed by the college. He said the funding for the centre will come from Uganda government. The centre will support government with training and research-based information and participate in advising and guiding implementation of several government programmes such as the Parish Development Model.

It will also provide leadership training to Saccos, Small and Medium businesses, Non-Governmental Organisations and individual innovators and financiers. At the same function, Dr Cathy Mbidde, the manager of Makerere University Innovation Hub, said Makerere University will soon set up nine design labs for making machines and equipment, among other services, that promote innovation and entrepreneurship.

The design labs will be funded through a partnership of Makerere with the United Nations Development Programme. The above faculty members were reporting on what Makerere is contributing in the national ecosystem of innovation, investment and management of small and medium enterprises.

This was in response to the breakfast meeting’s theme, ‘Makerere University’s role in entrepreneurship ecosystem: How can we help?’ The meeting was organized by the Makerere University Entrepreneurship and Outreach Centre (MakEOC).

Attended by government agencies, Makerere University staff and students and SME practitioners from across the country, the meeting resolved to have such a gathering every six months.

The participants also formed an executive committee of volunteers to dwell on a number of issues raised in the meeting. It will be coordinated by a secretariat headed by Dr Sarah Bimbona, the director of MakEOC.

As the keynote speaker, John Kakungulu Walugembe, the executive director of the Federation of Small and Medium-Sized Enterprises Uganda, dismissed as illusion the belief that economies of great countries are built by big companies and big financiers.

He argued that throughout history, the strongest pillar of countries’ economic growth is SMEs, and urged government and academia to promote SMEs rather than look down upon them. Walugembe called upon SMEs to work together, pull resources and benefit from the accruing economies of scale.

By John Musinguzi

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UGANDA BUSINESS COMMUNITY URGED TO VACATE DOMICILIATION IN FISCAL DARK ALLEYS BY EMBRACING DIGITAL PAYMENT SYSTEMS

Ugandan Businesses Urged to Adopt Digital Payment Systems

allafrica.com, December 15, 2022, 03:33PM | Financial experts have called for increased digitalization of the financial transaction services or enhanced adoption of E- Commerce by financial entities to permit financial inclusion and expansion of the Revenue base.

Financial experts said this can be achieved through operationalization of the National Payment Policy/ Switch.

The Deputy Governor Dr. Michael Akidingi - Ego while presiding over the conference on Reshaping of the Tax System to Support Financial Sector Development Strategy in Kampala called for the need to ensure price stability, an effective and efficient banking system.

"This can be realised through working towards ensuring full financial inclusion in the country, "Dr. Atingi-Ego added.

YouTube Video | Bank of Uganda of Uganda Financial Stability Symposium 👇🏾

Reports by the Uganda Revenue Authority on tax collection performance indicated that Financial services contributed a significant portion to the National Gross Product with over shillings 540.11 billion collected during the First Quarter of the financial Year 2022/2023.

Of this, Bank of Uganda contributed to about 28% of the revenue, mobile money transaction remitted over 22% whereas commercial banks contributed 26%, Insurance sector 4% and others contributed about 20%.

In the same line, "URA records indicate that wholesale and trade, motor vehicle and motorcycle repairs contributed about 8.25% of the 2021/22 Gross Domestic Share, Manufacturing Sector, 16.44% whereas Finance and Insurance 2.86%" Mr. John Musinguzi, the commissioner General URA, revealed.

This performance according to financial experts that have presided over the conference on Reshaping of the Tax System to support the Financial Sector strategy in Kampala, are optimistic that the country's revenue collection would expand if more financial transactions are done digitally given its enormous advantage.

Tax experts add that taxing hard cash is very difficult hence affecting revenue collection.

However, another sector grilling down the domestic revenue collection is the expansive informal sector comprising unregistered financial services providers, agriculturalists alongside high transactional costs for mobile money.

Now experts want the new strategy to live up to its objectives of ensuring financial services to all, markets and growth, as well as digitalizing of the financial sector.

By Julius Kitone

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YouTube Video | Bank of Uganda: Financial Inclusion and Financial Literacy Forum 👇🏾

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MTN FOUNDATION COMMITS TO PROPPING UP ITS BENEVOLENCE TOWARDS ALLEVIATING THE SCOURGE OF MASS YOUTH UNEMPLOYMENT IN UGANDA

Unemployment fight-on as MTN Foundation launches youth employment initiative

pmldaily.com, December 16, 2022 | KAMPALA – MTN Uganda’s Corporate Social Responsibility arm, MTN Foundation, has launched a nationwide youth-centred economic empowerment initiative dubbed the MTN ACE.

MTN Uganda CEO Sylvia Mulinge (R), Dr Aminah Zawedde, the Permanent Secretary (C) and Joyce Ssebugwawo, State Minister for ICT and National Guidance during the launch of MTN ACE program on 15 December 2022 (PHOTO/Courtesy).

The MTN ACE initiative was launched in Kampala at the National ICT Innovation hub under the theme “Digital Skills for digital jobs”. This timely campaign comes at a time when many youths are faced with a year-on-year soaring unemployment challenge as highlighted by the most recent (2021) world bank report.

Further studies indicate that 77% of Uganda is under the age of 30 and its population is set to double by 2060. There are not enough jobs available. Youth unemployment is already high and is indicated to rise as the population grows.

It is against this background that MTN Foundation Uganda and its partners have introduced the MTN ACE program aimed at tackling the issue of youth unemployment in supplement of all the other government efforts. The initiative targets a wide base of youths in Uganda including; fresh graduates, those in and out of school, innovators, entrepreneurs well as tech-driven start-ups. This is all aimed at nurturing an all-around workforce with the requisite skills for the 21st-century job market, as well as generating a pool of job creators to alleviate the current unemployment dilemma that the youth in Uganda are currently facing.

MTN ACE initiative brings to the public three MTN Foundation programs which include; the MTN ACE Tech program which focuses on upskilling the youth interested in tech-related innovations under which MTN has also equipped the national ICT hub with state-of-the-art equipment to allow innovators to prototype and incubate their ideas into a feasible business.

The second program under the initiative is the MTN ACE Career program which seeks to empower fresh graduates with workplace skills and internship placement, and lastly is the MTN ACE Skills program which is tailor-made for the youths who are in or out of school to equip them with entrepreneurial skills.

The MTN foundation has earmarked UGX 1.5 billion towards this initiative for the year 2023 in line with their corporate social responsibility agenda aimed at impacting the livelihoods of the communities MTN operates.

The MTN ACE initiative is an invention of the MTN Uganda Foundation, executed in partnership with; the Ministry of ICT & National Guidance, The National ICT Innovation Hub, Centenary Technology Services, Refactory, MUBS Entrepreneurship Innovation, and Incubation Centre, as well as MTN’s Fintech subsidiary, MTN MoMo Uganda Limited.

Speaking at the launch of the multi-billion MTN ACE campaign, Ms. Sylvia Mulinge the MTN Uganda Chief Executive Officer expressed MTN’s commitment towards empowering the youth, especially considering the soaring levels of unemployment in the country.

“This multi-pronged campaign will offer opportunities to a cross-section of the youth of this country and empower them on their various career journeys. They shall be able to get hands-on training for job placements as well as the much-needed digital skills to help them flourish in their various careers as well as innovate ideas that would allow them to start businesses that might even become global. I thank all our partners who have made this vision a reality,” she said, noting that it will require a concerted effort to deal with the unemployment issue in Uganda.

Hon. Joyce Ssebugwawo, the minister of State for Information, Communications and Technology lauded MTN Uganda and its partners for the critical campaign that is crucial to bridging the digital skills gap in the country as it further positions itself for the 4th industrial revolution.

“ICT skills are at the heart of Uganda’s development agenda. We believe that by empowering the youth to harness the digital era, Uganda shall be able to earn its share of the digital dividend in the near future. I urge the youth out there to seize this opportunity,” Ssebugwawo said.

MUBS’ Entrepreneurship expert, Dr. Diana Ntamu also urged the youth to seize this opportunity to improve their odds of finding employment as well as advancing their careers. She particularly lauded the MTN ACE Career Program which shall enable fresh graduates to acquire necessary hands-on skills that shall enable them to find suitable employment upon completion.

Applications for the three programs namely; ACE Tech, ACE Career, and ACE Skills commence today 15th December 2022 and shall close next year on January 13th.

Dr. Fredrick Edward Kitoogo, the principal at the Uganda Institute of Information and Communication Technology which hosts the National Innovation Hub, commented MTN Foundation for the new program saying it will immensely benefit the youth.

“Our youth are no less talented than those of foreign countries and can make our country shine globally…let us all work smart so that our country realizes the fruits of our national innovation hub through our innovations, ideas and support that will propel our nation going forward,” he said.

Peter Kahiigi, the Chief Technology Officer of Cente Tech, a subsidiary of Centenary Group said they are proud to partner with MTN Uganda and the Ministry of Information, Communication and Technology in implementing a project of such magnitude.

“We as Centenary Bank are honoured to work with MTN Uganda, MTN Foundation and the Ministry of ICT and National Guidance because nearly all the products that are going to be produced can be consumers within our active markets,” he said.

“Centenary Bank has a big mass of people and it is important to us as Cente Tech to use technology to digitalise lives of the rural people while conserving the environment… We believe that this partnership will help us achieve our aspiration of a digitalised nation.”

MTN Foundation Uganda is committed to empowering the youths by offering opportunities that support the youth to fully realize their potential while contributing positively to their communities, countries as well as the African continent, and beyond.

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