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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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Launch of Mak-RIF Round 4 Awards & PhD Call for Proposals

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Mak-RIF 4 Awards and PhD Call For Proposals, 29th September 2022, 9:00 to 10:00 AM EAT.

Makerere University received funding from the Government of the Republic of Uganda, earmarked to support high impact Research and Innovations. This unique initiative arose after engagements between the top University Management and the Government of Uganda. This fund illustrates the increasing importance that the Government attaches to Research and Innovation as a driver of development and transformation. The objective of the fund is to increase the local generation of translatable research and scalable innovations that address key gaps required to drive Uganda’s development agenda. 

In the Financial years 2019/2020, 2020/2021 and 2021/2022 the Government of the Republic of Uganda through Mak-RIF has funded implementation of over 750 multidisciplinary research and innovations within the various Colleges, while engaging multiple stakeholders within and outside Makerere University. The Grants Management Committee (GMC) has finalized the award process for the Mak-RIF round 4 call for funding for this Financial Year 2022/2023.

The Grants Management Committee (GMC) hereby invites you to the Launch of the Mak-RIF Round 4 awards and PhD Call for Proposals scheduled to take place tomorrow Thursday 29th September 2022 from 9:00 to 10:00 a.m. EAT. 

Please use the following details to join the launch.

Register in advance for this meeting:
https://us06web.zoom.us/meeting/register/tZwpcu-urDIjE9ZgxdsbEmA2IkNMMiJVECt_ 
Meeting ID: 884 5662 9992
Password: 292624

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Notice: Makerere Disability Scheme 2022/23 Medical Review Exercise

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One of the PWD graduands at the 69th Graduation during the Session held on 17th January 2019.

The Academic Registrar, Makerere University invites persons with disability who applied for admission to public universities under the disability entry scheme for 2022/2023 Academic Year to appear for medical/review exercise at Makerere Unive, Senate Building, Level Two (2) in the Telepresence Centre.

NOTE: Only those who have the minimum entry requirements of at least two principal passes at A’ Level or its equivalent and at least five (5) passes at O’ Level or its equivalent will be interviewed.

 Only candidates who sat ‘a’ level in 2020, 2019 and 2018 are eligible for admission.

THE EXERCISE WILL BE CONDUCTED ON 3rd, 4th and 5th October, 2022 respectively from 9.00 A.M – 1.00 P.M each day.

IMPORTANT:

(i) If you fail to appear on any of the given days above, there will be no other chance for you.

(ii) Applicants with Government Scholarship for the previous years are not eligible for admission

ALFRED MASIKYE NAMOAH

Acting. ACADEMIC REGISTRAR

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Uganda’s policymakers implored to address forest loss, plastic & water pollution

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Left to Right: Prof. Gunnar Köhlin, Prof. Barnabas Nawangwe, Amb. Maria Håkansson, Commissioner Julius Mafumbo and Prof. Edward Bbaale posing for a group photo before the opening ceremony on 22nd September 2022: Photo by EfD-Mak Centre.

The Vice Chancellor Professor Barnabas Nawangwe on Thursday 22nd September, 2022 participated in the opening of the EfD Annual meeting hosted by Makerere University at Speke Resort Munyonyo where he appealed to government to implement the ban on kaveera and address other environmental issues.

The opening ceremony moderated by the EfD Global Hub Manager Gunnar Köhlin and was graced by Uganda’s Minister for Water and Environment represented by the Commissioner for Water, Mr. Julius Mafumbo and the Swedish Ambassador to Uganda, H.E. Maria Håkansson.

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