The conversation about Uganda's economic future started with a strong and thought-provoking statement from the Governor of the Bank of Uganda, Michael Ating-Ego. He emphasized that macroeconomic stability is the "non-negotiable" base on which the country's ambitious ATMS growth plan must be constructed. His speech established a decisive and commanding atmosphere for the 6th Edition of the Uganda Economic Forum, which was aired live on NBS TV.
The Governor outlined the central bank's steadfast dedication to ensuring price and currency stability while actively promoting Uganda's development. He subsequently presented a clear challenge to the financial sector, encouraging a complete reevaluation of how growth is financed in alignment with the ATMS (Agro-industrialization, Tourism, Mineral Development, and Science, Technology & Innovation) framework.
"We must gather long-term funding for investments. Let commercial banks handle working capital financing," he stated. "We require new methods of funding for agricultural development. This is not the same as before." This push for patient, long-term capital was a clear indication of the significant investments required to bring the ATMS pillars to life.
The Governor's speech came after an encouraging start by Moses Kaggwa, the Director for Economic Affairs at the Ministry of Finance, who affirmed the economy's robust 6.5% GDP increase. Kin Kariisa, Group CEO of Next Media, greeted the participants, vowing "thrilling" times ahead as leading academics and business leaders prepare to examine the ATMS strategy.
With the stage ready, the forum delved into the first component of ATMS: Agro-industrialization. The panel discussion was an energetic conversation on how to transform this component into a driver of growth.
Abbey Seguya from the National Agricultural Research Organisation pledged the technological strength, encouraging Ugandans to adopt new, climate-resistant solutions being developed by his organization. Hon. Charles Oleny Ojok of the National Planning Authority praised the forum, noting that "Information exchange will be a crucial step in realizing our tenfold growth strategy" under ATMS.
Highlighting a vital community viewpoint, Hilda Tumuhe from SEATINI Uganda raised a caution: the ATMS plan can only thrive if the main recipients, the farmers, are fully engaged in its development and implementation. From the private sector, Dr. Dennis Ngabirano of Sumz Snacks stated that for Vision 2040 to be achieved, the ATMS structure needs to establish a supportive environment that encourages Ugandan agro-processors to enter competitive export markets.
With the end of Day One of the 6th edition of the UG Economic Forum, the key takeaway was evident: the bold ATMS plan aimed at a tenfold economic growth is feasible, yet it requires a solid base of economic stability, a shift in funding methods, and a united effort to transform policy into real prosperity.
Copyright 2025 Nile Post. All rights reserved. Distributed by AllAfrica Global Media (MountainTravel)
Tagged: Uganda, Economy, Business and Finance, East Africa
Provided by SyndiGate Media Inc. (Syndigate.info).
Posting Komentar