Newslex Point News in Uganda, Uganda news
The PM Nabbanja is expected to deliver a keynote address and is expected to speak alongside leading economists, diplomats, and business leaders.
Some of these include Lord Popat, the UK trade envoy to Uganda. The Permanent Secretary Ministry of Finance, Dr. Ramathan Ggoobi will also speak.
Other speakers will be Rajiv Ruparelia, Michael Mugabi from Housing Finance Bank. Anthony Kituuka, the Executive Director of Equity bank will also be there among other speakers.
The 11th UK-Uganda Trade and Investment Convention will focus on key sectors including Agribusiness, healthcare, Finance (Fintech) and Real estate.
The Ugandan economy is emerging from the devastating impact of the COVID-19 (coronavirus) health pandemic.
However, the increasing pressure on its natural resources undermines prospects for growth. This is according to the latest World Bank economic analysis for the country.
The 17th Uganda Economic Update (UEU), From Crisis to Green Resilient Growth: Investing in Sustainable Land Management and Climate-Smart Agriculture, says that the COVID-19 shock caused a sharp contraction of the economy to its slowest pace in three decades.
When they closed down firms and many people lost their jobs, particularly in the urban informal sector, household incomes drastically fell as well.
The country’s Gross Domestic Product contracted by 1.1 percent in 2020. They estimate that it recovered to 3.3 percent during the 2021 fiscal year.
The UEU also says that Uganda’s immediate priority remains to save lives. This is by intensifying measures to limit the spread of the coronavirus disease.
Yet, the report says sustaining recovery will require the government to manage emerging risks. These include from widening fiscal deficits, escalating costs for small businesses, and climate shocks and loss of its natural capital.
The significant shift of Ugandans to agriculture in response to the crisis has also heightened the urgency for the country to enhance sustainable use of natural resources
According to the report, land degradation, deforestation and climate risks contribute to the country’s economic vulnerabilities and poverty.
Annual decline in forest cover, by 2.6 percent, is one of the highest rates of forest loss globally and climate risks. This also includes slow onset change and extreme events that exacerbate this natural capital degradation.
Check Also;
- Mpuuga Tells Nabbanja To Stop Blackmailing Opposition Members
- Uganda To Host One Week Long Virtual Climate Change Week To Cut Costs
- Climate Change: European Union Earmarks Shs12b To Save Part of Uganda’ Forest Cover
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![[dropcap]A[/dropcap] section of women in Bugongo parish and Nawangaiza parish in Nawandala Sub County, Iganga District have decried the near-impossible terms set for them to access GROW funds. They have now petitioned their woman member of parliament for Iganga Hon. Kauma Sauda Alibaawo to ask the government for revised terms and conditions. This is to enable them to benefit from the program. The disgruntled women accuse the implementers of the program of charging the money. They are also asking for their land titles and land agreements. They said that such properties are governed by their husbands. These, therefore want the government through their woman MP to intervene and revise the requirements for one to benefit. The women were on Wednesday at Namabwere primary school in Nawandala Sub County. They had gathered in their respective groups to receive over 300 chickens from Hon Alibaawo in her campaign to improve the livelihood of women in Iganga district. Each group was given 50 chicken as start-up capital in their journey to prosperity. Read what some leaders said; Ms Naigambi Lydia from Nawandala Trading Centre says, “They solicited money from us through opening bank accounts and depositing Shs80,000. They also asked for land titles and land agreements from us yet we don’t have such things. I was informed that I needed to have a business with a capital of Shs4m yet my capital was very small.” The chairperson Kisoboka Saving Group in Nawandala Ms. Nakagolo Faith said they were not able to join the program. This is given the many conditions attached. She also asked their woman MP to raise their concerns to the relevant offices. The MP condemned the mode of implementation of the program. She cited that it has turned to benefit the well-off class of women other than the intended group. She further asked the government to intervene saying the current strings attached to the programme are very tight to accommodate a common woman. GROW project is a Government of Uganda initiative that arose out of the need to respond to the needs of women entrepreneurs. This is especially those who want to grow their businesses, sustain their self-employment and create more jobs. Check Also; Iganga District NRM Leaders Urge Museveni To Fulfill Election Promises Of 2021 International Women's Day: Celebrating Progress Towards Equality](https://i0.wp.com/newslexpoint.com/wp-content/uploads/2024/11/Iganga-women-decry-tough-terms-to-access-GROW-funds-e1731738339732.jpg?resize=300%2C160&ssl=1)
