KAMPALA, Uganda – May 23, 2023: Experts are gathering next week in Kampala to analyse the state of Uganda’s economy.
In new findings by the World Bank to be presented on June 1st, 2023, the country’s economic situation will be assessed on the basis that Uganda’s resilience in weathering economic shocks is a promising path to full recovery and medium-term acceleration.
The discussion preceding the presentations of findings, will focus on the key factors contributing to this positive trajectory, shed light on the areas where Uganda has excelled, but also acknowledge the existing challenges that need to be addressed for sustained growth.
The event is organized by the World Bank in Uganda and begins with opening remarks by Ms. Mukami Kariuki, the World Bank Country Manager for Uganda. Following the opening remarks, there is a presentation on “The State of Uganda’s Economy” by Ms. Rachel K. Sebudde, a Senior Economist from the World Bank.
The main discussion session is titled “Hard Talk: Managing risks to sustain recovery and inclusive development.” The session aims to address several key questions related to Uganda’s economic recovery and development. The questions touch upon topics such as the factors contributing to Uganda’s strong recovery, challenges in fiscal management, risks to macroeconomic management and growth, and the role of tourism in accelerating growth and improving livelihoods.
The discussion is moderated by Mr. Solomon Serwanja, the Executive Director of the School of Investigative Journalism. The panelists participating in the discussion include Mr. Ramathan Ggoobi from the Ministry of Finance, Planning, and Economic Development, and Mr. Samuel Sejjaaka, Principal of MAT ABCUS Business School.
After the discussion session, there is a presentation on “Tapping Tourism for an Inclusive and Sustainable Economic Growth” by Ms. Qursum Qasim, a Private Sector Specialist from the World Bank.
The event will continue with a panel discussion focused on scaling Uganda’s tourism into a global brand. The panelists, including Mrs. Doreen Katusiime from the Ministry of Tourism, Wildlife, and Antiquities, Mr. Herbert Byaruhanga, President of Uganda Tourism Association, and Ms. Civy Tumusiime, Chairperson of the Association of Uganda Tour Operators, discuss various aspects related to realizing the potential of tourism, product diversification, attracting investments, and enhancing collaboration between the government and the private sector.
The wrap-up session will include a reflection on the discussions and an invitation to the Chief Guest, Ms. Mukami R. Kariuki, for her remarks. Finally, the event concludes with a keynote speech by Mr. Tom Butiime, the Minister of Tourism, Antiquities, and Wildlife, who also launches a report.
Uganda’s Fiscal Management Analysis
Uganda’s fiscal management will emerge as a critical area of concern, as it has introduced various risks affecting social spending and private sector credit. These risks are deemed detrimental to both sustainable, private-led growth and recovery. The discussion will generally aim at identifying the problems within fiscal management and exploring potential solutions to mitigate the risks associated with it, an invitation programme reads.
The different panels will deliberate on the near-term challenges and risks to macroeconomic management and growth, debated whether the development of the oil sector could act as a panacea or potentially introduce new challenges, recognize the potential of tourism in boosting export earnings, attracting foreign investments, driving growth, and generating employment
The panels will also discuss the need for product diversification which is a key challenge within Uganda’s tourism ecosystem.
The focus will dwell on the steps necessary to position Uganda as a unique and must-visit destination that stands out from others in the region.
The panelists will further hope to discuss the strategies for marketing and developing the country’s distinctive offerings to attract more tourists and enhance the sector’s competitiveness.
According to the programme which has been seen by ResearchFinds News, the panel discussion with additionally discuss ways to attract foreign and domestic investments to the tourism sector while improving access to finance for micro, small, and medium enterprises operating within the industry.
It is expected that the different panels will emphasize the importance of implementing these strategies through enhanced collaboration between the government and the private sector.
That way, they will be able to recognize that a cohesive approach and effective partnerships are essential for driving Uganda’s economic development and maximizing the potential of its tourism industry.
Is a longtime journalist in Uganda who has served as a cab reporter, Bureau Chief, Managing Editor, and Digital Media Editor at the country's prominent publications such as Daily Monitor, Red Pepper, and now, Research Finds News since 1999.
Rugyendo is currently a Ph.D. Fellow in Journalism and Communication at Makerere University, a Desmond Tutu Fellow, Crans Montana New Leader, and Chairman of Young Engineers Uganda and Uganda Premier League.
