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Top Economists call for more local investments

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The Deputy Governor Bank of Uganda, Dr. Louis Kasekende has called for strengthening of the private sector to fill the gaps in Uganda’s economy and witness higher economic growth. Dr. Kasekende was giving a key note address at a high level policy dialogue on Uganda’s economy at Makerere University on 3rd Nov. 2015. The highly interactive dialogue was organized by the School of Economics (College of Business and Management Sciences), Ministry of Finance, Planning and Economic Development (MoFPED) and United Nations Development Programme. It drew participants from the industry, academia, policy makers and the international community.Permanent Secretary/Secretary to the Treasury, Ministry of Finance, Planning and Economic Development, Keith Muhakanizi (L), Senior Adviser to the President of Uganda on Finance and Economic Planning Dr Ezra Suruma (C) and Vice Chancellor Prof. John Ddumba-Ssentamu

Dr. Kasekende appreciated the private sector for the aggressiveness in investing but noted that it is high time investments by the private sector were rechanneled to more pressing areas of the economy. “Most private investment is in shopping malls and residential homes not employment industries. We need to invest in goods too,” he advised.

He noted that current account and trade deficits have widened over the last decade, with the trade deficit close to $3 billion for the financial year 2014/15. He pointed out that exports of goods and services stagnated in the last 2 years. To reduce trade deficits, Dr. Kasekende argued that a substantial share of output growth over the medium term must comprise of traded goods, exports and import substitutes. He castigated the long held dream that Uganda’s oil will be a magic solution to all the country’s pressing financial needs. “Uganda cannot rely on oil alone to close its trade deficits, because export revenues are highly uncertain. Uganda must expand non oil export industries to ensure a sustainable balance of payments over the long term,” he asserted.Ms  Almaz Gebru, the Country Director, United Nations Development Programme

The call for enhanced investments was shared by Dr. Joseph Muvawala, the Executive Director Uganda Planning Authority, who observed that the country is doomed if it does not prioritize strategic investments. The Permanent Secretary/Secretary to the Treasury, Ministry of Finance, Planning and Economic Development, Keith Muhakanizi, observed that Uganda’s per capita income has not increased despite an increase in economic growth, thus the need for major structural changes in face of the depreciating shilling. 

Almaz Gebru, the Country Director, United Nations Development Programme, argued that holistic strategies ought to be adopted in addressing the question on improving Uganda’s economy.  “We should embark on strategies for full integration of the academia and its visibility beyond teaching, into institutions we can rely on for best policy research and advocacy. UNDP is committed to scaling up partnership with academia and institutions engaged in private and public policy issues, such as governance, economic management, and human development,” she said.Prof. Mukwanason Hyuha former Academic Registrar, Makerere University contributing to the discussion.

“At the macroeconomic level, we need to ask ourselves how we can enhance macroeconomic and financial stability in the face of the weakening shilling and the likely decline in investor confidence. How can we support growth in ways that complement achievement on all other dimensions of sustainable development? Yes, the economy has been growing, but we need to put a human face to this growth. How can we make it equitable to ensure that prosperity is shared?” she wondered.

Gebru called for strategies to widen the tax base, significantly reduce tax evasion and tackle resource leakages. She added that those entrusted with managing resources ought to do so transparently and account to the taxpayers through better service delivery.Dr. Joseph Muvawala, the Executive Director Uganda Planning Authority

According to the Makerere University Vice Chancellor, Prof. John Ddumba-Ssentamu, Uganda is reported to be among the fastest growing economies in the world having registered an average GDP growth rate of 7% over the course of the past two decades. “This is quite impressive. However, there is still need for broader understanding of the macro-economic dynamics and socio-economic factors   shaping Uganda’s development agenda, which remains critical. As the nation struggles to achieve the desired Vision 2040, there is urgency in the need and demand for evidence-based research that informs formulation of pro-poor policies. This is the kind of research that will promote sustainable human development in Uganda, he asserted.

Assoc. Prof. Eria Hisali, the Principal- College of Business and Management Sciences Assoc. Prof. Eria Hisali, the Principal- College of Business and Management Sciences – CoBAMS, observed that all citizenry, have a role in shaping the country’s future. “We have noted that, as a country, we need to make careful fiscal choices, and we also need to follow up our plans with real action in terms of implementation,” he said.Dr. Edward Bbaale, Dean School of Economics

The Dean School of Economics, Dr. Edward Bbaale, observed that the dialogue was timely in discussing Uganda’s situation.  "There couldn’t have been any other time than now to discuss direction, prospects and challenges from the perspective of the overarching strategic direction of the country; the National Development Plan II," he said.

The proceedings of this high level policy dialogue will be compiled into a report and shared by the College of Business and Management Sciences, Makerere University.

Article by Marion Alina

 

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Re-advertisement: Undergraduate Programmes 2024/2025

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A section of the University Road

The Academic Registrar, Makerere University invites applications from Ugandan, East African, and international applicants for the undergraduate programmes under Government Sponsorship (BVL) and private sponsorship scheme for the 2024/2025 Academic Year.

Each applicant should:

a) Have the Uganda Certificate of Education (UCE) with at least five passes, or its equivalent and at least two principal passes at Uganda Advanced Certificate of Education (UACE) obtained at the same sitting. For day programmes only candidates who sat A’ Level in 2023,2022 and 2020 are eligible to apply. For evening, afternoon, and external programmes, a candidate is not restricted on the year of sitting A’ Level.

OR

d) Degree from a recognised/Chartered Institution

Further details on the re-advertised programmes , fees structure, and the procedure of submitting applications can be accessed from the document below:                                            

The closing date for receiving applications for undergraduate admissions is Friday 26th July 2024.                                                           

WARNING:                                                             

  1. Applicants are strongly warned against presenting forged or other people’s academic documents to support their applications for admission.  The consequences, if discovered, are very grave indeed.
  2. Do not buy any other documents not originating from the Academic Registrar’s Office.  Those who buy them do so at their own risk. 
  3. The Academic Registrar has not appointed any agent to act on his behalf to solicit for additional funds other than the application fee stated above.    
  4. Applicants are advised to use the right programme names and codes. The university will not be responsible for any wrong information entered in the system by applicants.     

Prof. Mukadasi Buyinza
ACADEMIC REGISTRAR

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Freshers’ Orientation and Registration For 2024/2025 Academic Year

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To All First Year Students;
First Year students (Freshers) are by tradition given an “acclimatization” period of one week
which is referred to as the “Orientation Week”. The Freshers report on Campus one week
earlier than the Continuing students and during this week they are introduced to the key facilities in the University as well as other important aspects of life at the University.

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Admission Lists -Disability, Sports and District Quota Schemes 2024/25

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Students move towards Main Building on University Road

The Office of Academic Registrar, Makerere University has released the admission list of candidates admitted under the Disability, Sports and District Quota Schemes with Government sponsorship 2024/25 Academic Year.

Kindly follow the links below to access the lists:-

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