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Address Financial Literacy to Improve Household Income-Study

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Findings by a team of researchers from the College of Business and Management Sciences (CoBAMS) have recommended that the Government through its agencies should partner with private financial institutions to organise financial literacy trainings to teach households on how to access capital, save and invest in productive ventures. The recommendations were made at a research dissemination workshop for the project titled: Evaluation of the effectiveness of financial inclusion on household’s welfare in Uganda: A case study of Busoga region.

While officially opening the hybrid dissemination workshop held on Wednesday 29th September 2020 in the School of Business Conference Room and virtually, the Principal CoBAMS, Dr. Eria Hisali thanked the Government of Uganda for funding the project through the Makerere University Research and Innovations Fund (Mak-RIF). He equally commended the Principal Investigator (PI), Dr. Eric Nzibonera and his team on successfully completing their project and achieving the set objectives.

Chief Guest at the Dissemination Mr. John Peter Mujuni represented The Executive Director, Microfinance Support Centre.

Dr. Hisali proposed four options to ensure that the findings from the study reach a wider audience.

  1. Immediately upload the findings on the College’s new working paper series website, which will enable staff to read the document and provide feedback
  2. Proceed to transform the working paper into a journal article so as to reach audiences from different parts of the world
  3. Proactively review curricular in preparation for the possibility of gradually using research from Makerere as part of course outlines and teaching materials.
  4. Take advantage of the College’s planned framework of engaging policy makers formally through policy labs that will be held every quarter.
Principal College of Business and Management Sciences Dr. Eria Hisali officially opened the workshop

Presenting the findings from the project, the PI Dr. Nzibonera thanked the Principal for his advice and his research team for their hard work. Other members of the team that sampled 430 heads of households included the Dean School of Business Dr. Godfrey Akileng and Ms. Hellen Nambi.

“Financial Inclusion is a process through which financial services are delivered to the disadvantaged and low-income sections of the society on a timely basis and at affordable costs” defined Dr. Nzibonera, adding that “the relationship between financial inclusion and poverty alleviation has been widely discussed but only few studies explore the effect of financial inclusion on household welfare.”

He therefore shared the twofold objective of the project as; to establish the extent to which the rural households engage in financial inclusion and to examine the nature of household welfare and establish the extent to which financial inclusion enhance households’ welfare. The latter, he noted, would help guide policy recommendations to the Government and private sector.

Project PI – Dr. Eric Nzibonera (back row 5th Right), Dean of School of Business- Dr. Godfrey Akileng (R) in a group photo after dissemination of the project findings.

Dr. Nzibonera noted that financial inclusion is measured through establishing the extent of availability and accessibility to financial services, affordability, usage and quality of financial products. He added that household welfare is improved through access to quality education and health services, improved shelter, food production and consumption as well as access to information.

The findings on availability and accessibility to financial services revealed an interesting pattern. “Whereas households still find it hard to access formal financial services for savings and deposits’ and services provided by bank agents are irregular, they easily access mobile money services for withdrawals and payments” he shared.

In terms of affordability, findings revealed that although the cost of accessing financial institutions and withdrawing funds from mobile money agents is still high, the cost of accessing financial services through bank agents and carrying out financial transactions through financial institutions is affordable.

Investigations into the usage and quality of services showed that households find it easy to use mobile money and village SACCOs to make deposits and payments for school fees. Despite the ease of use, households find it hard to save with banks, microfinance institutions and SACCOs.

“The accounts opened in banks and SACCOs are not frequently used and the services offered by banks or their agents are not regular” added Dr. Nzibonera.

The research team’s findings showed that financial inclusion has partly enhanced the welfare if households in Busoga.

“The study revealed improvement in income levels as a result of accessing loans from financial institutions and SACCOs. The number of school going children has also increased as a result of borrowing opportunities from SACCOs” said the PI.  

Dr. Nzibonera added that although it is easy for households to access information about financial services relevant for welfare improvement, “there is limited income to enable households gain access to good healthcare and carry out construction.”

The team therefore made the following policy recommendations;

  1. Financial and microfinance institutions should employ agents to at least every parish or sub-county to grant households easy access to financial services.
  2. Government through District commercial officers should encourage households to organise into village savings and credit cooperative organisations (SACCOs) at parish level and identify unique financial products that promote savings and investments for different groups.
  3. Government agencies such as the Micro Finance Support Centre and Operation Wealth Creation (OWC) should partner with private financial institutions to organise financial literacy trainings for households on how to save as well as identify and invest in productive investment ventures.
  4. The cost of financing should be reduced to rates that are affordable by households. This will improve household income for both consumption and investment.
  5. Financial institutions should design financial products that would enable households to access funds for construction as long as there is a clear payment plan and evidence of source of income for loan repayments.

Speaking on behalf of the Mak-RIF Grants Management Committee (GMC) Chairperson Prof. William Bazeyo, Dr. Helen Nambalirwa Nkabala congratulated the research team upon the successful dissemination and thanked Dr. Hisali for proposing policy labs as a means of engaging policy makers.

She urged Dr. Nzibonera as a firsthand witness on the state of financial inclusion to go beyond the policy recommendations and draft a successor project proposal on solutions that can clearly and precisely take financial inclusion at the grassroots level to the next level.

“You are the right people to guide Government on what unique product the community will get and how it will help improve their financial knowledge” she recommended.

Dr. Nkabala thanked the Government for funding research and innovations that inform national development priorities and the University Management for creating an environment conducive to conducting research. In the same breath she thanked the GMC for providing oversight and the GMC Secretariat for ensuring that the projects run smoothly.

“This is a clear example of taking the Ivory Tower to the community” she concluded.

Representing Mr. John Peter Mujuni, Executive Director, Microfinance Support Centre (MSC) and Chief Guest at the dissemination, Mr. Godfrey Mangeni thanked the research team for a job well done, and pledged take the findings and policy recommendations very seriously.

“Please share these findings so that we can work with you in other areas like Bukedi and Karomoja to improve our services” he remarked.

Mr. Mangeni shared that there still remains a lot of work to be done to support Government’s Parish Development Model in the Busoga region despite MSC’s zonal office in Jinja and a satellite office in Iganga and as such, called upon researchers from Makerere to share their expertise.

Dean of School of Business and Member of Research Team- Dr. Godfrey Akileng

Delivering the concluding remarks, Dr. Akileng in his dual capacity as Research Team member and Dean noted that Financial Inclusion is an important topical issue for national development and therefore expressed happiness that the Government had found it fitting to fund the project.

“As a nation, we need to reflect reflect on Government interventions aimed at addressing gaps of financial inclusion that financial institutions have not been able to fill” he rallied. This reflection, he said, ought to be guided by the question ‘Where have been the successes in social impact and where have been the failures?’

He noted that although Financial Technology (FINTECH) is the buzzword when it comes to improving service delivery, its success is hinged on how easy it will be for end-users at the grassroots level to adopt the various solutions offered.

“I believe that a highly informed community with the ability to easily access financial services and mobilise savings is key to the improvement of household earnings as well as boost demand and productivity in the country” he added.

In the discussion that preceded the concluding remarks, Mr. John Emoi, the Manager Investments at Uganda Development Bank who joined the conversation virtually had expressed his organisation’s keen interest in the days topic and research findings. Particularly, he had urged the research team to include the development of FINTECH models as a means of disseminating financial services among their policy recommendations.

In conclusion, Dr. Akileng called for affirmative action for business teaching institutions, “Business touches every sector and it is important to appreciate that if we must make money in any sector, we must understand business.”

Mark Wamai

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Uganda Urged to Embrace Community-Based Conservation Approaches to Tackle Biodiversity Crisis

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Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.

Over 40 Ugandan government officials have been called to integrate communities into biodiversity conservation following a two-day high-level training (August 20–21, 2025) at Makerere University.

Organized by EfD Uganda, the workshop focused on biodiversity conservation, community-based natural resource management, and economic valuation of national parks. Led by renowned environmental economist Prof. Edwin Muchapondwa, the training emphasized aligning conservation efforts with community involvement for lasting impact.

Prof. Edwin Mchapondwa facilitating the workshop at Makerere University. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Prof. Edwin Mchapondwa facilitating the workshop at Makerere University.

“Communities must be seen not just as beneficiaries but as co-managers of biodiversity,” said Prof. Muchapondwa. “Policy frameworks need to devolve rights to local people to increase their stake in conservation outcomes.”

Participants from ministries and agencies explored Uganda’s biodiversity challenges—including habitat loss, agricultural expansion, poaching, and climate change. Sessions covered conservation principles, legal frameworks, ecosystem valuation, and regulatory tools to integrate biodiversity into national planning.

A section of participants. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
A section of participants.

Valuing Nature to Shape Policy

A central theme was the economic valuation of ecosystems—putting monetary value on biodiversity to inform policy and investment decisions.

“When we reduce everything to a common metric, we can make objective, evidence-based decisions—especially when weighing development against conservation,” Prof. Muchapondwa said.

Participants in a group discussion. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Participants in a group discussion.

Officials practiced applying valuation methods like contingent valuation and payment for ecosystem services in real-world policy settings, including environmental impact assessments and Uganda’s National Development Plan III.

Despite strong conservation policies on paper, implementation remains weak. “The issue isn’t policy absence but execution,” he noted. “We must adapt successful community-based models from Southern Africa to Uganda’s context.”

A section of participants. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
A section of participants.

Tourism and Development: A Delicate Balance– Prof. Edward Bbaale

Speaking at the opening, Prof. Edward Bbaale, Director of the EfD–Mak Centre, emphasized collaboration between academia and government to support tourism development and sustainable resource use.

He praised Prof. Muchapondwa as a “pillar of the Environment for Development network” and highlighted the urgent need for research that connects tourism, conservation, and economics.

Prof. Edward Bbaale opening the training. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Prof. Edward Bbaale opening the training.

“We’ve had little research from Makerere on tourism and natural resource valuation,” Bbaale said. “Yet this is exactly where government seeks advice.”

Bbaale underscored Uganda’s ambition to grow GDP tenfold—from $50 billion to $500 billion—through sectors like tourism, agro-industrialization, and manufacturing, urging researchers to support this growth with evidence-based insights.

Prof. Edward Bbaale during the introductions. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Prof. Edward Bbaale during the introductions.

Makerere houses the highest concentration of PhDs in this country,” he said. “If this research isn’t happening here, where else should it happen?”

The event concluded with a renewed call for stronger partnerships among academia, government, and communities to ensure conservation and development go hand-in-hand.

Mchapondwa presenting at Makerere University Uganda. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Mchapondwa presenting at Makerere University Uganda.

Public Sector Must Rethink Economic Policy Through Biodiversity Lens– Dr. Peter Babyenda

Uganda risks jeopardizing its natural wealth if it continues to undervalue its ecological resources, warned Dr. Peter Babyenda, Research Fellow and Policy Engagement Specialist at EfD–Mak Centre.

“Our forests, wetlands, and ecosystems are routinely excluded from GDP calculations due to limited technical capacity and funding,” he said. “Kenya has made progress—Uganda must catch up.”

Peter Babyenda Policy Engagement specialist. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Peter Babyenda Policy Engagement specialist.

To bridge the gap, EfD–Mak Centre, with support from SIDA, has launched a training program for technical staff from ministries and agencies like the Ministry of Tourism, Uganda Wildlife Authority, and NEMA.

“These are the people who draft policy,” Dr. Babyenda said. “We’re training them to use data and evidence, not emotion, when defending policies.”

Some of the group presentations. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Some of the group presentations.

He cited recent transport policy missteps—such as a speed enforcement proposal that failed due to lack of public engagement—as an example of why community participation is essential.

“Especially with human-wildlife conflicts, you must involve locals,” he said. “Solutions like electric fencing must be safe and community-driven.”

Conservation vs. Economic Growth

Uganda’s ambitious goal to grow its economy from $50 billion to $550 billion by 2040 presents risks to biodiversity, particularly from agricultural expansion. Dr. Babyenda stressed the need to balance development with environmental preservation.

“We must promote agriculture without destroying forests and wetlands,” he said. “Our tourism sector, which depends heavily on biodiversity, must also be protected.”

Prof. Mchapodwa delivering the lecture at EfD Uganda. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Prof. Mchapodwa delivering the lecture at EfD Uganda.

He urged officials to present conservation as an economic asset. “If you show that every additional dollar invested in tourism marketing creates jobs and boosts GDP, people will listen.”

Aligning with Uganda’s National Development Plan IV, Dr. Babyenda called for cross-sector policy coherence.

Some of the group presentations. Two-day high-level training for 40 Ugandan government officials on biodiversity conservation, community-based natural resource management, and economic valuation of national parks Organized by EfD Uganda, 20th-21st August 2025, Makerere University, Kampala Uganda, East Africa.
Some of the group presentations.

“Tourism, agro-industry, and mineral development must be guided by sound, evidence-based policy,” he concluded. “Otherwise, we risk losing it all.”

Participants Reflections from the Training

Adson Tumwebaze – National Environment Management Authority (NEMA)
As someone working in the Research and Innovations Unit at NEMA, this training was a timely eye-opener. We’ve gained valuable insights into how economic valuation can be integrated into our research and planning frameworks. Understanding the tangible benefits ecosystems provide—and knowing how to quantify those benefits—equips us with the tools to make informed decisions when balancing development and conservation.

For us at NEMA, this goes beyond theory. It supports our mandate of protecting ecosystems and helps us align our work with national policies such as the National Biodiversity Action Plan and BISAP. One of my key takeaways is that you cannot talk about implementing a project on an ecosystem without understanding its value. Once we can economically define these benefits, we can also justify conservation measures, influence policy, and guide budgeting processes more effectively.

Alice Nalweera – Economic Policy Researcher
This training brought clarity to a challenge many of us are grappling with: the growing threats to biodiversity in the face of urbanization, climate change, and population pressure. As we pursue economic development and strive for goals like those outlined in the 2040 export-oriented strategy, we must ask: Can biodiversity and development coexist?

Tourism is one of Uganda’s biggest earners, and it’s entirely dependent on biodiversity—the parks, wildlife, flora, and fauna. Without protecting these resources, our economic aspirations could collapse. What struck me most is the urgent need for accurate data. We can’t conserve what we haven’t identified or valued. Accounting for our natural resources is not optional—it’s essential.

Arthur Ebong – National Planning Authority
From the national planning perspective, this training helped bridge a crucial gap between policy and implementation. While NDP III and NDP IV highlight biodiversity mainstreaming, they often lack depth in practical conservation measures. We used to insert the term “biodiversity” into plans, but lacked the tools to truly value and integrate it.

Learning about valuation methods like hedonic pricing and travel cost analysis opened new avenues for making biodiversity count—literally—in our national plans. And beyond the technical tools, this session also promoted inter-agency collaboration. With stakeholders like NEMA, UWA, and the Ministry of Water in the same room, we can now work more cohesively toward a shared goal.

The training has also inspired curriculum reviews. If we want future planners and policymakers to value biodiversity, we must train them early—through revised academic programs and capacity-building initiatives. This is not just about today’s policies, but the long-term socio-economic transformation of Uganda.

Gertrude Kirabo – Uganda Wildlife Authority (UWA)
At UWA, we face the challenge of balancing conservation with increasing economic pressure around protected areas. This training has been invaluable in helping us understand how to defend conservation efforts using data-driven economic valuation.

Previously, arguments for protecting a forest or wetland often sounded emotional or abstract. Now, we can present facts—cost-benefit analyses that compare the long-term value of ecosystem services with short-term economic gains. This also supports practical decisions like adjusting park permit fees or advocating for higher conservation budgets.

Personally, this training served as a wake-up call. It made me realize how often we’ve given away resources without truly valuing them. I strongly recommend that more field officers and institutional planners go through this kind of training. It’s one thing to learn these concepts in school, and another to see their real-world application. It’s time we started backing conservation with data and strong economic logic.

Jane Anyango is the Communication Officer EfD Uganda.

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Exploring Africa’s Growth and Global Challenges: Participants rallied on effective utilization of resources, and adoption of green economy strategies

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Dr. Paul Mpuga (3rd Left) poses for a group photo with participants after his presentation on 19th August 2025. Presentation: “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges” by Dr. Paul Mpuga, a visiting Scholar and Division Manager for Microeconomic Policy, Debt Sustainability, and Forecasting in the Economic Governance and Knowledge Management Vice-Presidency of the African Development Bank Group, 19th August 2025, Conference Room, Level 2, Block B, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.

By Ritah Namisango and Monica Meeme

On 19th August 2025, the College of Business and Management Sciences (CoBAMS) at Makerere University, hosted a public presentation titled Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges.”

Dr. Paul Mpuga, a visiting Scholar and Division Manager for Microeconomic Policy, Debt Sustainability, and Forecasting in the Economic Governance and Knowledge Management Vice-Presidency of the African Development Bank Group, delivered the presentation, which attracted both physical and virtual participants, comprising researchers, teaching staff, graduate, and undergraduate students.

The presentation covered critical topics including: Regional differences in growth performance and outlook, Inflation in Africa, Opportunities and Challenges to growth, emerging risks, and key policy recommendations.

The presentation provided valuable insights into the current economic challenges and opportunities facing Africa. His analysis highlighted the importance of sound policies, economic integration, and investment in key sectors such as education, infrastructure, and green growth. The discussion emphasized the need for collaboration among governments, the private sector, and academia to drive sustainable development and inclusive growth across the continent.

Associate Professor Faisal Buyinza. Presentation: “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges” by Dr. Paul Mpuga, a visiting Scholar and Division Manager for Microeconomic Policy, Debt Sustainability, and Forecasting in the Economic Governance and Knowledge Management Vice-Presidency of the African Development Bank Group, 19th August 2025, Conference Room, Level 2, Block B, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.
Associate Professor Faisal Buyinza.

Welcoming the participants, Associate Professor Faisal Buyinza, the Acting Dean of the School of Economics, emphasized that Dr. Mpuga’s work is significant not only for his academic contributions, but also for his role as a mentor, having taught and influenced many of the current faculty members.

“His impressive career journey, which began at the World Bank’s Kampala office and later took him to Ethiopia and other countries, reflects his deep expertise in key economic roles across the continent,” said Associate Professor Buyinza. He disclosed that Dr. Mpuga’s extensive experience has significantly contributed to the development of macroeconomic design and policy skills, an asset particularly crucial as Uganda navigates current economic challenges.

In addition to his professional achievements, the Acting Dean of the School of Economics commended the humanitarian spirit of Dr. Mpuga, recalling how he used to share meals with street children in Uganda, reflecting his compassion and values beyond academia.

In his address, the College Principal, Prof. Edward Bbaale welcomed Prof. Mpuga back to Makerere University. “Dr. Mpuga is a former Lecturer. Today, he returns to the School of Economics, his academic home, to share with us, his versatile knowledge, experience and expertise on a topic crucial for Africa’s transformation,” said the Principal. He commended Dr. Mpuga’s decision to deliver the presentation, highlighting that such academic engagements are vital and should become a regular part of the College’s culture.

Prof. Edward Bbaale. Presentation: “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges” by Dr. Paul Mpuga, a visiting Scholar and Division Manager for Microeconomic Policy, Debt Sustainability, and Forecasting in the Economic Governance and Knowledge Management Vice-Presidency of the African Development Bank Group, 19th August 2025, Conference Room, Level 2, Block B, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.
Prof. Edward Bbaale.

Reiterating the role of knowledge sharing and mentorship within the academic community, the Principal shared his personal testimony, acknowledging Dr. Mpuga’s pivotal role in his own academic journey. He recounted how Dr. Mpuga mentored him early in his career by including his name on a research project—an opportunity that opened doors to numerous collaborations, professional growth, and academic advancement.

The Principal called upon the staff and students present to embrace a culture of regular academic public presentations, such as lunch-hour sessions across the School of Economics, School of Business, and the School of Statistics and Planning. He noted the close connections between the disciplines, highlighting the potential for cross-disciplinary learning and collaboration.  The Principal emphasized that as Makerere University implements its research agenda, sustained academic engagement is a key defining aspect of this identity.

Prof. Bbaale affirmed the College’s support for such initiatives, including modest research grants that have already enabled the publication of around 70 research papers, soon to be compiled under the CoBAMS Working Paper Series.

Expressing the commitment to this strategic approach, the College Principal used the opportunity to introduce Dr. Peter Babyenda, a Lecturer at the School of Economics, who was appointed as the College’s Policy Engagement Coordinator to support academic activities.  Prof. Bbaale assured all in attendance of the maximum support for this initiative and encouraged active participation from everyone.

Dr. Peter Babyenda. Presentation: “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges” by Dr. Paul Mpuga, a visiting Scholar and Division Manager for Microeconomic Policy, Debt Sustainability, and Forecasting in the Economic Governance and Knowledge Management Vice-Presidency of the African Development Bank Group, 19th August 2025, Conference Room, Level 2, Block B, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.
Dr. Peter Babyenda.

Beginning his presentation, Dr. Paul Mpuga, Division Manager at the African Development Bank, offered a comprehensive overview of Africa’s economic realities, challenges, and opportunities. He emphasized that economic progress is not driven by sentiment, but by certainty, sound policies, and strategic investment.

Using a simple analogy, Dr. Mpuga explained that a baker doesn’t bake bread unless they are sure it will sell. In the same way, investors and entrepreneurs, will only take risks in economies where policy certainty and confidence are assured. He underscored the urgent need for policy coherence and economic stability, both globally and within African nations.

Reiterating the importance of Domestic Revenue Mobilization, Dr. Mpuga noted that Africa’s average tax-to-GDP ratio stands at just 17%—significantly lower than the 25–28% seen in more advanced economies such as South Africa and Botswana. These countries are able to finance up to 90% of their expenditures through domestic revenues, a target that many others on the continent still struggle to achieve.

He underscored the urgent need for reforms in tax systems and public finance management to reduce the over-reliance on external borrowing. “Africa requires an estimated $150–$170 billion annually for infrastructure development, yet currently mobilizes only about $80 billion, leaving a funding gap of $70–$100 billion,” he stated.

Dr. Paul Mpuga presents “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges.” Presentation: “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges” by Dr. Paul Mpuga, a visiting Scholar and Division Manager for Microeconomic Policy, Debt Sustainability, and Forecasting in the Economic Governance and Knowledge Management Vice-Presidency of the African Development Bank Group, 19th August 2025, Conference Room, Level 2, Block B, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.
Dr. Paul Mpuga presents “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges.”

Dr. Mpuga emphasized that infrastructure such as roads, energy, water systems, and transport is not a luxury, but a necessity for connecting production to markets and driving sustainable development.

He stated that youth unemployment remains alarmingly high, with 30–40% of African youth (aged 15–34) unemployed in some countries. “Many young people are not in education, employment, or training, leading to wasted talent and increasing social risks,” he highlighted. He emphasized the need for greater investment in skills development and education, noting that sustainable economic transformation depends on a well-equipped and empowered workforce.

Dr. Mpuga pointed out that economic integration and managed migration are strategies that can boost GDP growth, enhance policy stability, and reduce export concentration.

He noted that, despite being one of the regions most affected by climate change, Africa has made limited progress in green growth investments. “The continent is rich in natural resources, yet underutilized in terms of climate-smart development,” he stated.

Presentation: “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges” by Dr. Paul Mpuga, a visiting Scholar and Division Manager for Microeconomic Policy, Debt Sustainability, and Forecasting in the Economic Governance and Knowledge Management Vice-Presidency of the African Development Bank Group, 19th August 2025, Conference Room, Level 2, Block B, College of Some of the staff that attended the presentation. Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.
Some of the staff that attended the presentation.

He indicated a major opportunity gap, when he disclosed that the global green economy is valued at an estimated $3 trillion, but Africa’s private sector participation stands at only 14%.

He advocated for greater private sector involvement, the adoption of green infrastructure practices, and natural capital accounting to help African countries value, protect, and benefit from their resources.

For Africa to realise inclusive growth, Dr. Mpuga highlighted the following practical policy recommendations:

  • Improving fiscal transparency and efficiency
  • Strengthening tax administration using digital tools
  • Aligning monetary and fiscal policy, especially around inflation targeting
  • Building foreign reserves to cushion against shocks
  • Ensuring debt is used for productive investments such as energy and infrastructure
  • Accelerating structural reforms and economic diversification
  • Promoting integrated infrastructure planning (for instance roads with energy and ICT links)
  • Investing in value addition and agro-processing to uplift rural economies
Part of the audience. Presentation: “Africa’s Growth Trends and Prospects in Light of Evolving Global Challenges” by Dr. Paul Mpuga, a visiting Scholar and Division Manager for Microeconomic Policy, Debt Sustainability, and Forecasting in the Economic Governance and Knowledge Management Vice-Presidency of the African Development Bank Group, 19th August 2025, Conference Room, Level 2, Block B, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa.
Part of the audience.

Using a humorous reference to Uganda’s famous grasshopper delicacies, Dr. Mpuga illustrated the need for economic transformation, saying, “We need to move beyond traditional activities and create value chains that can package and export even local foods globally. We shouldn’t be running to donors every day when we sit on so much wealth,” he noted. “Let us value what we have, manage it well, and build a prosperous, united, and green Africa.”

Responding to the questions, Dr. Mpuga emphasized the importance of formalizing economies, strengthening trade links, and building public confidence through sound policy frameworks such as inflation targeting and social contracts. He cautioned against excessive reliance on Artificial Intelligence in academic and professional settings. “AI can be useful for checking work or assisting with calculations, but it cannot replace human thought, creativity, or critical reasoning,” he advised.

Dr. Mpuga mentioned the need for better monitoring and maintenance systems, such as ensuring broken streetlights are tracked and fixed, drawing attention to practical governance concerns that affect everyday life.

 Monica Meeme contributed to this story as a Guest Writer

Ritah Namisango
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Strengthening Capacity in Public Investment Management: Two-Week Training Underway in Fort Portal

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Fort Portal, August 18, 2025 — The Public Investment Management Centre of Excellence (PIM CoE), in collaboration with the Ministry of Finance, Planning and Economic Development (MoFPED) and Cambridge Resources International (CRI), has kicked off a two-week intensive training on Economic Appraisal and Stakeholder Analysis for public officers from various Ministries, Departments and Agencies (MDAs). The training, taking place from August 18 to 29, 2025 in Fort Portal, marks the final module of the Investment Appraisal and Risk Analysis (PIAR) II Course.

Dr. John Sseruyange from PIM CoE. Public Investment Management Centre of Excellence (PIM CoE), College of Business and Management Sciences (CoBAMS) launch of five-day training in the Essentials of Public Investment Management (PIM) for officials from the Kampala Capital City Authority (KCCA), 19th May 2025, CoBAMS Conference Hall, Makerere University, Uganda, East Africa.
Dr. John Sseruyange from PIM CoE

In his opening remarks, the Manager of PIM CoE, Dr John Sseruyange, welcomed participants and commended them for their commitment to completing the course. He emphasized that the training was designed to deepen participants’ skills in investment appraisal and ensure that government projects deliver tangible benefits to society. “This training is essential for understanding the impact of development initiatives on people’s welfare. I encourage you to give your undivided attention throughout these two weeks,” he noted. 

Prof. Eria Hisali.
Prof. Eria Hisali.

Speaking at the same event, Prof. Eria Hisali, Co-Principal Investigator of the PIM CoE, highlighted the centrality of this program to Uganda’s development agenda. He urged participants to appreciate the training not only for their personal growth but also for the wider benefit of the country. “Upon completion, you will be expected to add value by ensuring that only projects with the highest returns on investment and the greatest benefit to the economy are developed and implemented,” he said. 

Delivering the remarks of the Permanent Secretary/Secretary to the Treasury (PSST), Principal Analyst-Ms. Esther Ayebare reaffirmed the government’s commitment to strengthening the Public Investment Management System (PIMS). She noted that the training would empower participants with critical tools for evaluating the economic and financial viability of projects in line with the PIMS framework.

Ms. Esther Ayebare. Public Investment Management Centre of Excellence (PIM CoE), College of Business and Management Sciences (CoBAMS) launch of five-day training in the Essentials of Public Investment Management (PIM) for officials from the Kampala Capital City Authority (KCCA), 19th May 2025, CoBAMS Conference Hall, Makerere University, Uganda, East Africa.
Ms. Esther Ayebare.

 The PSST encouraged participants to seize the opportunity to engage, share expertise, and apply the knowledge gained in their professional roles to strengthen Uganda’s public investment outcomes.

Dr. Kagarura conducts one of the training sessions. Public Investment Management Centre of Excellence (PIM CoE), Makerere University, Kampala, Ministry of Finance, Planning and Economic Development (MoFPED) and Cambridge Resources International (CRI), two-week intensive training on Economic Appraisal and Stakeholder Analysis for public officers from MDAs in Fort Portal, August 18 to 29, 2025, Final Module of the Investment Appraisal and Risk Analysis (PIAR) II Course.
Dr. Kagarura conducts one of the training sessions.

The PIM CoE expressed gratitude to all partners for their continued collaboration and reaffirmed its commitment to building strong institutional and individual capacities for effective public investment management in Uganda.

The course content will cover a wide range of areas including:

  • The role of Economic and Stakeholder Analysis in Investment Appraisal.
  • Economic Analysis of Education, Human Capital, and Infrastructure Projects.
  • Practical tools and frameworks for assessing the viability of public investments.
A section of participants listen to Dr. Kagarura. Public Investment Management Centre of Excellence (PIM CoE), Makerere University, Kampala, Ministry of Finance, Planning and Economic Development (MoFPED) and Cambridge Resources International (CRI), two-week intensive training on Economic Appraisal and Stakeholder Analysis for public officers from MDAs in Fort Portal, August 18 to 29, 2025, Final Module of the Investment Appraisal and Risk Analysis (PIAR) II Course.
A section of participants listen to Dr. Kagarura.

Participants will be guided by a team of expert facilitators from CRI, MoFPED, the National Planning Authority (NPA), and Makerere University, ensuring a blend of theoretical rigor and practical application. 

Betty Kyakuwa
Betty Kyakuwa

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