Martin Luther Oketch

1 week ago | monitor.co.ug | Martin Luther Oketch

Government has been on a mission to industrialise Uganda for more than 30 years now. Yet, a lot remains in its plan to achieve the import substitution agenda. Thus, as a mitigation, government is searching in all corners, and unlike previously, focus has been widened to the Far East as part of the push to industrialise and by extension achieve the ten-fold growth, in which is seeking to grow the economy from $50b to $500b in the next 15 years.

1 week ago | monitor.co.ug | Martin Luther Oketch

What you need to know:Minister Kasaija emphasised that the 2025/26 budget is designed to benefit all Ugandans, from youth and women to security personnel and cultural leaders. By Martin Luther Oketch The 2025/26 budget, unveiled by Finance Minister Matia Kasaija at Kololo Independence Grounds on June 12, places strong emphasis on health, education, and social protection, key areas that directly influence the quality of life for citizens.

2 weeks ago | monitor.co.ug | Martin Luther Oketch

Governments around the world finance their national budgets through a combination of revenue generation and borrowing. Revenues to finance typically come from taxes, such as income tax, corporate tax, and sales tax, as well as fees and fines. Sustained domestic revenue mobilisation is crucial for developing countries to finance economic growth, achieve their development priorities, and build resilience to climate shocks among key strategic priorities.

2 weeks ago | monitor.co.ug | Martin Luther Oketch

What you need to know:Mr Kasaija said Uganda’s economy has strengthened its resilience to domestic and external shocks, and is estimated to grow by 6.3 percent this financial year 2024/25. This is after recording growth of 8.6 percent in the third quarter of this financial year. Last financial year 2023/24 the economy grew by 6.1 percent.

2 weeks ago | monitor.co.ug | Martin Luther Oketch

What you need to know:The bank, which is undergoing re-branding, is fully owned by the government and the government is responsible for its capitalisation as the bank works towards becoming a fully-fledged commercial bank The government has intensified efforts to capitalise PostBank Uganda, which will soon be rebranded as Pearl Bank Uganda Limited, by reinvesting the entire profit of Shs35.4 billion earned in the 2022/2023 Financial Year.