The agricultural sector has been allocated UGX1.534 Trillion for the financial year 2021/2022.This is an increase more than half from the UGX940 Billion the sector got in the current budget.About a third of the budget which is UGX536 Billion will be spent at the Ministry for administrative purposes, according to the 2021/2022 National Budget Framework Paper. The government hopes that this will help drive production and productivity in the sector.This is also 3.3% of the total national budget, still far below the 10% that Uganda and other African countries committed under the Maputo Declaration in 2003 in Mozambique.Apart from putting in…
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By Christopher Burke, WMC Africa Government support for the promotion of agriculture in the 2020/21 budget with the scrapping of VAT on agricultural equipment and processed milk are welcome steps in the right direction; however, care is required in the utilization of import duties to pursue import substitution associated with agricultural products. Uganda is a relatively small economy and must maintain access to regional markets. Tagged the “Pearl of Africa” over a century ago, Uganda remains “gifted by nature.” Geographically located at the centre of one of the fastest growing and most dynamic economic regions in the world, Uganda has become…
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PostBank Uganda, a financial institution that is committed to empowering lives, has launched a series of agricultural forums in seven districts. These forums shall equip and educate farmers on how to improve their businesses for profit maximization. Agriculture is a backbone of the economy, employing more than 70% of Uganda’s population and accounting for up to 37% of the country’s GDP. While the sector has come a long way, it still faces a lot of challenges such as low out put due to inadequate of use of fertilizers, high cost of finance, lack of agricultural machinery, lack of proper information,…
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