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Investors have accused the Uganda Development Bank (UDB) of frustrating the industrialization agenda of the country. They said that UDB has not done enough to grant them access to cheap loans as it had been envisaged.
They expressed their frustration to president Museveni during the commissioning of the East African Medical Vitals. It is a surgical and examination gloves factory in Africa, located in Namanve industrial park, costing $ 14.5 million to set up.
Responding to the investors’ concerns, the president said UDB must do more to help investors.
‘’We put some money into the bank, it must do its job,’’ Museveni said.
The factory intends to produce 95 million gloves per annum which is enough to feed Africa that previously imported 100% of her surgical gloves needs.
Evelyn Anite, the minister of state for Investment, said the local production of medical supplies signals increased health standards.
In similar news earlier reported by NEWSLEXPOINT.com, Aviation Entrepreneur Captain Mike Mukula has blasted the government and Uganda Civil Aviation Authority for being bureaucratic in issuing license and registration of private airline operators in the country.
Speaking at the 8th graduation ceremony of Uganda Aviation Academy in Kampala, Mike Mukula said the bureaucracy has slowed down business. It has also up-scaled unfair competition in the airline business.
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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)
