Business & Management
EfD-Mak, GRO Foundation & BoU Hold High-Level Roundtable on Green and SDG-Linked Financing
Makerere University on Wednesday hosted a high-level policy dialogue bringing together researchers from the Environment for Development (EfD-Mak) Centre, representatives from the Green Gas + Reforestation +Offset (GRO) and Bank of Uganda, to explore alternative financing mechanisms for climate action and sustainable development.
The roundtable, held ahead of the Tumusiime-Mutebile Annual Public Lecture, focused on “Building Capacity and Market Readiness for Green and SDG-Linked Financing Mechanisms through Private Sector Mobilisation Towards Achieving the 10-Fold Economic Transformation (ATMS).”
Discussions highlighted Uganda’s urgent need to expand climate financing, build capacity among financial institutions, and strengthen evidence-based policymaking as climate shocks increasingly affect productivity and inflation.
Partnership With GRO Will Build Capacity for Climate Finance Access – Peter Babyenda
EfD-Mak Policy Engagement Specialist and Research Fellow Peter Babyenda said the centre is implementing an Inclusive Green Economy capacity-building program, with this year’s focus on climate-smart agriculture—an area that requires substantial financing for farmers and enterprises.
“For you to promote climate-smart agriculture, you need people who can provide finances for farmers to buy the technologies,” he said.
Babyenda explained that EfD-Mak’s collaboration with GRO is aimed at equipping the private sector and financial institutions with the capacity to mobilize and access climate finance, especially for climate-smart investments.
He added that EfD-Mak has recently partnered with the Ministry of Finance to provide evidence for climate action and stands ready to support GRO through stakeholder linkages, technical training and policy research.
“This roundtable is the start of our collaboration with GRO,” he noted, emphasizing that both institutions are aligned in scaling capacity and readiness for climate financing.
Uganda Must Mobilize Private Capital to Meet Climate and Growth Goals– Prof. Bbaale
Delivering the keynote address, Prof. Edward Bbaale, Principal of CoBAMS and Director of EfD-Mak Centre, warned that abnormal weather patterns such as the extreme heat recorded in November underscore Uganda’s growing climate vulnerability.
“When 26th November feels like January or July, then something is not working well with our environment,” Bbaale said.
He stressed that Uganda’s ambition to achieve a ten-fold economic transformation requires a financing ecosystem that supports sustainability, innovation and private sector participation. He noted that Uganda needs US$228 billion to implement its Nationally Determined Contributions (NDCs), yet climate finance access remains constrained.
“The question is not whether we can participate in the global green financing momentum, but how quickly and effectively we can mobilize the private sector and strengthen institutional capacity,” he said.
Bbaale Reaffirms EfD-Mak’s Readiness to Build Capacity and Partner Across Sectors
Prof. Bbaale placed strong emphasis on capacity building as a cornerstone of Uganda’s transition to a green economy. He highlighted EfD-Mak’s ongoing regional program that trains senior civil servants from five East African countries on using fiscal policy to spur green transformation.
“At the EfD-Mak Centre we believe that knowledge, evidence and partnerships are essential ingredients for real transformation,” he said. “We are ready to collaborate with government, with GRO, with international partners to build the capacity needed to advance climate-responsive and SDG-aligned economic planning.”
He underscored that Makerere University has become more open to partnerships and is pursuing a research-led, innovation-driven agenda, adding that such collaboration is central to the university’s strategic plan.
“Makerere is now more collaborative than ever before. As a research-led university, our success depends on partnerships, knowledge-sharing and internationalisation,” he said.
Bbaale Stresses Need for Evidence to Guide Policy, Fiscal and Monetary Decisions
Bbaale highlighted that researchers must generate real-time evidence to support government and financial sector decisions, especially as climate shocks begin to influence macroeconomic indicators such as inflation.
He noted that changing weather patterns have altered harvest cycles, with crops maturing earlier and reducing food availability—factors that directly affect inflation and complicate the Bank of Uganda’s monetary policy operations.
“If the environment is hitting output and therefore inflation, then monetary policy must speak to environmental shocks,” he said.
Bbaale also pointed to the critical need for natural capital accounting, fiscal policy reforms, and institutional strengthening to enable Uganda to unlock climate finance and achieve sustainable economic growth.
Prof. Bbaale urged participants to use the roundtable to diagnose gaps in market readiness, strengthen networks, and advance financial innovations that complement public funding.
“Let us approach today not just as an event, but as part of a broader national commitment to building resilient, green and inclusive economies,” he said.
He encouraged active engagement throughout the session and assured stakeholders that EfD-Mak would continue to support national, regional and global climate initiatives—including the Coalition of Finance Ministers for Climate Action, where Uganda currently serves as co-chair.
GRO Foundation Pledges to Mobilise $1 Billion Annually as Uganda Ramps Up Green and SDG-Linked Financing
Executive Director of the GRO Foundation Laban Joshua Musinguzi, announced that the organisation is committing to mobilising US$1 billion every year for the next five years to support Uganda’s climate finance ambitions, alternative financing mechanisms and the country’s broader goal of economic transformation.
Musinguzi described the session as both a tribute to the legacy of the late Governor Emmanuel Tumusiime-Mutebile and a call to accelerate Uganda’s readiness for innovative and market-based climate finance.
He opened his remarks by honouring the late Mutebile as a pioneer of macroeconomic stability, institutional reforms and private-sector-led growth.
“Today is memorable because we are here to honour a legacy and inspire the future,” he said. “Mutebile’s vision for resilient financial ecosystems still runs in the blood of young economists and statisticians. I am one of them—I studied here, so I am back home.”
He added that Mutebile’s emphasis on private sector participation remains central to Uganda’s ability to mobilise the financing needed for green growth.
Mr. Musinguzi explained that the GRO Foundation—Greenhouse Gas Reforestation Offsets is a social enterprise committed to alleviating poverty by unlocking climate finance through innovative financial instruments.
“We unlock climate finance by creating financial instruments,” he said.
“These include green bonds, carbon certificates, sustainability bonds and commodity-backed bonds.”
He highlighted that GRO is an “interesting space open to disruptive technology,” and reaffirmed the foundation’s willingness to deepen its partnership with Makerere’s EfD-Mak Centre, financial institutions and government agencies.
The foundation works under the “Fantastic Four framework”—forestation and deforestation, food security, water security, education and skilling, and green jobs—with the current engagement at Makerere falling under the education and skilling pillar.
Musinguzi said Uganda aims to transform its economy to US$500 billion by 2040, but global shifts are demanding new sources of capital, including green financing, SDG-linked financing and capital markets.
“COP30 reinforced alternative financing as key for developing economies,” he said, adding that Uganda made commitments at the global climate conference to accelerate green bonds and SDG-linked bonds.
Uganda is currently implementing five climate finance strategies—among them the green taxonomy and the climate financing vehicle but Musinguzi stressed that implementation now matters more than awareness.
“We are in the last phase of the SDG agenda. We have no time for awareness—we have time for implementation,” he said.
Gaps in Uganda’s Readiness: ESG Integration Still Below 20%
Musinguzi outlined several gaps affecting Uganda’s readiness to access global climate finance: Only 30–40 financial institutions have internal ESG reporting frameworks; Less than 20% of climate risk guidelines have been integrated into credit products; Commercial banks lack clarity on what qualifies as a “green loan” and that Uganda’s regulatory frameworks have not evolved at the pace of technological disruption
He added that Uganda’s first carbon revenue—about US$40 million took nearly a decade to materialise, underscoring how delays in documentation, data and compliance slow financing.
“We must demonstrate institutional capacity through monitoring, reporting and evaluation systems to unlock financing,” he said.“We must be ready for this money.”
GRO’s Track Record: $1.5 Billion Already Mobilised, New Target of $10 Billion
Musinguzi reported that GRO has already mobilised US$1.5 billion, a commitment made at COP Azerbaijan and later presented during Uganda’s National SDG Conference and the Ministry of Water and Environment’s annual reports.
For 2025–2026, the foundation has set a more ambitious target: “We aim to mobilise US$10 billion next financial year.” He emphasised that when GRO says “mobilise,” it means actualinflow, not mere pledges.
“We mobilise, not promise,” he said. “By the time we call it mobilising, we have already brought the money into the country.”
These funds will support Climate finance business windows, Carbon certification schemes (100 million certificates already registered), Private-public-community partnership models and Clean energy, food security, waste management and youth skilling programmes
Concluding his remarks, Musinguzi urged policymakers, academia, financial institutions and development actors to treat climate finance readiness as a national priority.
“The conversation begins here,” he said. “If not now, then when? And if not us, then who?”
He reaffirmed GRO Foundation’s commitment: “We are ready to mobilise US$1 billion every year for Uganda for the next five years.”
Bank of Uganda Positions Sustainability at Core of Financial Sector Reform
The Bank of Uganda (BoU) has intensified efforts to embed sustainability and Environmental, Social and Governance (ESG) standards across the country’s financial system, describing sustainable development as a “strategic imperative” for Uganda’s long-term economic resilience.
Prisca Ampumuza Rwamare, BoU’s Director of Strategy and Innovation, said Uganda cannot achieve its development goals or meet global commitments without a stable, forward-looking financial sector that is prepared for climate shocks, demographic shifts and resource pressures.
“Sustainable development is no longer optional. It is central to building long-term economic resilience,” Ampumuza said, noting that Mutebile himself consistently emphasised the impact of financial institutions on society.
She revealed that the Bank has redefined its purpose and mission under the 2022–2027 strategic plan to reflect its commitment to socioeconomic transformation. “We had to rethink our business model and strategy,” she said. BoU has integrated sustainability into monetary policy operations, financial stability oversight, payment systems modernisation and risk management frameworks.
The central bank has also signed up for the Sustainability Standards Certification Initiative and revised its corporate social responsibility policy to align with ESG priorities.
Ampumuza highlighted several regulatory steps already underway. In partnership with the Uganda Bankers Association, BoU co-developed an ESG framework for the banking sector, launched in June 2024, with commercial banks now reporting quarterly on progress. BoU has also issued guidelines for managing climate-related financial risks and is reviewing its micro- and macro-prudential supervisory tools to enforce ESG compliance.
A key concern, she said, is preventing “greenwashing” in the financial sector. “We take this very seriously,” she noted, warning against superficial sustainability claims that do not reflect real environmental or social impact.
Innovation, Culture Shift and Collaboration Critical
According to Ampumuza, sustainable finance cannot be achieved through policy updates or digital systems alone. She stressed the need for institutional culture change, data-driven supervision and innovative solutions. That week she said the Bank launched an ambitious Innovation Strategy to support this transformation.
She noted that BoU is undergoing a culture change programme to empower its young workforce over 100 newly recruited staff to champion SDGs and sustainable finance within a traditionally cautious institution.
BoU is also collaborating with international partners including the World Bank, IMF, IFC and the global Network for Greening the Financial System (NGFS) to strengthen policy frameworks and build capacity.
Despite progress, Ampumuza said banks continue to struggle with implementing sustainable finance principles due to capacity gaps, absence of baseline ESG data and limited availability of bankable green projects. She revealed that BoU, the Uganda Bankers Association and the Institute of Bankers recently completed a curriculum on sustainable finance to support sector-wide training.
Ampumuza concluded that sustainability is now fully integrated into BoU’s internal operations. A dedicated department and ESG coordination division have been established, and all projects across currency management, logistics and infrastructure must demonstrate compliance with environmental and social standards. “If this is replicated across the banking sector, we will make significant impact,” she said.
Participants Chart Path to Green and SDG-Linked Financing
A panel, moderated by Canary Mugume, comprising Dr. Peter Babyenda, a climate finance economist from Makerere University, Ms. Elizabeth Mwerinde, Head of Commercial Banking at Ecobank, and Dr. John Sseruyange, an environmental economist at Makerere University examined Uganda’s readiness for green and SDG-linked financing, with a special focus on institutional perspectives and market preparedness.
The discussion underscored that sustainable development is no longer optional for Uganda—it is a strategic imperative for economic transformation. Global financial shifts are creating new opportunities through green finance networks, SDG-linked instruments, and carbon markets. Yet, while Uganda’s macroeconomic fundamentals are strong, the greening component of its economy remains weak.
Speakers emphasized the strategic role of diverse actors in mobilizing green finance. Academia, the private sector, financial institutions, and government all share responsibility, but partnerships must also reach beyond traditional stakeholders to include religious and cultural leaders who can influence public awareness and mindsets. The private sector, in particular, was identified as the engine for Uganda’s ambitious economic transformation.
Despite the potential, persistent challenges remain. Low institutional awareness, limited readiness among financial institutions, and the absence of a strong pipeline of bankable green projects hinder progress. Critical data gaps were highlighted, with Uganda possessing “data sets, not databases,” and research outputs were said to insufficiently inform policy and decision-making.
Panelists stressed the need for evidence-based approaches: different sectors require tailored policy instruments, and academia and think tanks have a vital role in guiding government policies, investment design, and risk assessment. Institutions must deepen their understanding of green financing mechanisms, climate risks, and ESG compliance, while reporting standards and transparency must be strengthened across all levels of the financial system.
Innovations and ongoing initiatives offer a glimpse of progress. The launch of a Sustainable Finance Curriculum for financial institutions and platforms like the monthly “Carbon Tuesdays” at Kati Kati are building capacity and creating space for innovative ideas on carbon markets and climate finance. Meanwhile, the government’s deliberate role in shaping regulatory frameworks and deploying policy instruments—including incentives, guarantees, blended finance, and public-private partnerships—was highlighted as essential.
Mobilizing private capital was presented not as a replacement for public finance, but as a critical complement, expanding Uganda’s financing capacity. The country’s credibility, transparency, and demonstrated ability to manage large-scale investments are key to attracting private investors, alongside a clear pipeline of viable instruments.
The roundtable concluded with a call for a renewed strategy: Uganda must return to the drawing board, scale up bankable green projects, and strengthen institutional capacity. Success, panelists agreed, will depend on partnerships, credible data, strong governance, and unified commitment across sectors—a holistic approach to greening Uganda’s economy and advancing sustainable development.
Jane Anyango is the Communication Officer, EfD-Mak Centre
Business & Management
Uganda Launches Policy Briefs on Natural Capital Accounts to position Nature at the Centre of Economic Planning
Uganda has launched five policy briefs on Natural Capital Accounts aimed at integrating the value of the country’s forests, wetlands, water resources, land, energy systems and ecosystems into national economic planning and decision making.
The Policy Briefs, developed by the Centre of Excellence for Africa Climate-Sensitive Macroeconomic Modelling (CEACM) under the College of Business and Management Sciences, were launched on Wednesday 15th July 2026 at Makerere University.
The initiative brings together government, academia and development partners to promote climate-informed economic policies as Uganda pursues sustainable development and its economic transformation targets.
The five policy briefs address Uganda’s energy transition, declining wood stocks, natural capital integration into development planning, sustainable land use, and national water accounting amid climate change.
The five policy briefs include:
- Uganda’s Wood Stock on a Declining Pathway to Extinction: A Call for Policy Review and Action
- Uganda’s Energy System at a Crossroads: The Unsustainable Reliance on Biomass and the Need for Energy Transition
- Integrating Natural Capital into Development Planning in Uganda: Insights from the Ecosystem Service and Asset Accounts (1990-2015)
- Leveraging Land Natural Capital to Drive Uganda’s Sustainable and Inclusive Growth
- National Water Accounts Development: Tracking Uganda’s Progress amidst Climate Change.
Link to the Policy Briefs: https://bams.mak.ac.ug/policy-briefs/
Speaking at the Launch of the policy briefs, the Minister of State for Environment, Hon. Beatrice Atim Anywar who represented the Minister of Water and Environment, said natural capital accounting provides Uganda with a new approach to valuing its environmental resources.
“Today, we are launching a new way of seeing, planning and managing Uganda’s development,” Hon. Anywar said.
She noted that for years, Uganda’s economic progress has largely been measured through indicators such as Gross Domestic Product (GDP), which do not capture the decline or improvement of natural resources.
“But GDP does not tell us if our forests, water sources and wetlands are shrinking. It does not tell us if our forests can still hold our waters or whether our soils will still feed the next generation,” she said.
Hon. Anywar said Uganda’s natural capital, including forests, wetlands, water resources, biodiversity, minerals and fertile soils, supports livelihoods, tourism, energy generation and climate resilience. “This natural capital supports over 70 percent of our population and powers our hydropower. It feeds into tourism and buffers us against droughts and threatening floods,” she said.
She warned that degradation of these resources represents a loss of national wealth. “When natural capital is degraded, we are not just losing trees, wetlands, water or soils. We are losing wealth. We are losing jobs for our children and future generations,” she said.
The Minister said natural capital accounting allows Uganda to place nature on its economic balance sheet. “This is what natural capital accounting does. It puts nature on the balance sheet. I studied basic accounting, but I never imagined that natural resources could also be reflected on a balance sheet. Today, that is becoming a reality,” she said.
She challenged all stakeholders to ensure that every future development decision considers its impact on Uganda’s natural capital, stressing that informed choices today will secure sustainable prosperity for generations to come.
Hon. Anywar also called for recognition of the role communities play in protecting natural resources, saying traditional knowledge must complement modern science.
“Our ancestors protected the environment without maps, technology or scientific reports. They knew which areas were sacred, where water sources were protected and where forests should not be disturbed,” she said. “When communities understand that protecting a wetland or forest protects their own livelihoods, we will not need constant enforcement. People themselves will become protectors of nature,” she added.
Research Must Drive Policy Decisions
Delivering the opening remarks, the Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe highlighted the event as a significant milestone in strengthening climate-sensitive economic planning.
He noted that the theme of the launch and dissemination workshop, “Advancing Climate-Informed Economic Policy for Sustainable Development in Africa,” aligns with the research-led agenda of Makerere University.
Prof. Nawangwe said the launch demonstrates the role of universities in generating evidence to support national development. “Today’s event demonstrates the power of collaboration between academia, government and development partners in generating knowledge that informs public policy and advances Uganda’s sustainable development agenda,” he said.
Prof. Nawangwe said the policy briefs provide evidence needed for integrating natural capital into national planning, budgeting and investment decisions. He said the University will continue strengthening research capacity to support Uganda and Africa.
Emphasizing the urgency of informed decision-making, he observed that Africa remains one of the regions most affected by climate change while experiencing rapid population growth, placing increasing pressure on natural resources. He stressed that research-driven policies are essential for achieving climate resilience and sustainable economic growth.
The Vice Chancellor commended the Government of Uganda, particularly the Ministry of Finance, Planning and Economic Development, on the country’s historic appointment as the first Co-Chair of the Coalition of Finance Ministers for Climate Action.
He recognised the Centre of Excellence for Africa Climate-Sensitive Macroeconomic Modelling (CEACM) for advancing interdisciplinary research and strengthening Uganda’s position as a regional leader in climate-sensitive macroeconomic modelling and evidence-informed policymaking.
“The Centre continues to build the capacity of African researchers and policymakers while fostering partnerships with government institutions, development partners, regional organisations, and the private sector,” he said.
Strengthening Africa’s Climate Policy Research Agenda
Prof. Edward Bbaale, the Director of CEACM and the Principal, College of Business and Management Sciences (CoBAMS), reported on Makerere University’s investment in establishing specialised centres that address critical policy challenges facing Uganda and the African continent.
He stated that CEACM was established to respond to growing global demands for climate considerations to become part of national planning, budgeting and macroeconomic decision-making.
“The Centre is committed to producing high-quality policy-oriented research while strengthening the capacity of policymakers and practitioners to respond effectively to climate and economic challenges,” he said.
He explained that CEACM was established because climate change can no longer be separated from economic planning. “It is very important that national planning, budgeting, macroeconomic frameworks and fiscal policies are not oblivious to climate change, but instead fully integrate climate-related considerations,” he said.
He stated that CEACM’s work aligns with emerging global and continental initiatives, including the Coalition of Finance Ministers for Climate Action and the Pan-African Forum of Finance Ministers on Climate Action, underscoring the increasing role of finance ministries in integrating climate priorities into economic planning and fiscal decision-making.
Prof. Bbaale added that Makerere University had positioned itself as a partner to government through research, evidence generation and capacity building. “We could not stand aside. We have to be part of this global effort and contribute the much-needed evidence, research and capacity building to support the Ministry of Finance in executing this important responsibility,” he said.
He noted that Uganda’s role as the first African country to co-chair the Coalition of Finance Ministers for Climate Action had created an opportunity for local institutions to strengthen climate-sensitive economic modelling.
Uganda’s Progress in Integrating Natural Capital into Economic Planning
Representing the GGGI Country Representative, the Manager of Climate Finance, Mr. Arthur Ssebbugga-Kimeze commended Uganda’s efforts to integrate natural capital accounting into national economic planning. “This is a critical step towards climate-resilient and sustainable development,” he acknowledged.
The Manager of Climate Finance applauded the collaboration between Makerere University, the Ministry of Finance, Planning and Economic Development, and development partners in generating evidence that supports informed policymaking.
He also recognised the Government of Denmark for its continued support in advancing climate-smart economic policies through the Denmark-EGP partnership.
Emphasizing the significance of natural capital as a key pillar of economic prosperity, Mr. Ssebbugga-Kimeze called for sustained investment in protecting these assets. “Uganda’s experience is increasingly informing climate finance and policy discussions across Africa through the Pan-African Finance Ministers’ Forum on Climate Action,” he added.
He called for strong partnerships among government, academia, and development partners to ensure that research continues to drive evidence-based policymaking and sustainable economic growth, reaffirming GGGI’s commitment to supporting Uganda’s green growth agenda.
Policy Briefs Must Move from Shelves to Decisions
Representing the Embassy of Denmark in Uganda, Ms. Nina Guldbæk van Leeuwen, Counsellor and Team Leader for Politics, Regional Affairs and Refugee Support, said natural capital accounting is critical for building climate-resilient economies.
She commended Uganda’s leadership as co-chair of the Coalition of Finance Ministers for Climate Action. “These policy briefs are crucial in enhancing the role of economic, fiscal and financial policies in addressing climate change in Uganda and Africa as a whole,” she said.
Ms. Van Leeuwen said reliable natural capital accounts enable finance ministries to integrate climate considerations into economic planning. “Ministries of Finance require these accounts to support macroeconomic modelling, which can only be developed through a strengthened and collaborative national statistical system,” she said.
She urged stakeholders to ensure the research informs actual decisions. “Let us ensure that these policy briefs do not remain on institutional shelves but are actively used to inform decisions and policies going forward,” she said.
Natural Capital Data will improve Economic Decision
The Acting Commissioner for Macroeconomic Policy at Uganda’s Ministry of Finance, Planning and Economic Development, Mr. Davis Vuningoma, called for climate change to be treated as a macroeconomic and fiscal challenge rather than solely an environmental issue.
“Climate risks pose significant threats to agricultural productivity, energy generation, infrastructure, government revenues, and fiscal stability,” he noted.
Mr. Vuningoma said natural capital accounting will strengthen Uganda’s ability to make informed economic decisions.
He warned that climate change poses economic risks that could affect Uganda’s fiscal space. “If we do not address these challenges, our fiscal space could shrink, and our ability to provide public services could be affected,” Mr. Vuningoma said.
He said Uganda’s natural resources have historically not been fully reflected in traditional economic measurements. “Uganda is richly endowed with natural capital, including forests, wetlands and water resources. However, traditional measures of economic performance have often failed to fully capture the value of these assets,” he said.
Mr. Vuningoma said the policy briefs provide practical options for government as Uganda seeks to expand its economy. “This is particularly important at a time when Uganda is pursuing ambitious economic transformation targets, including the goal of growing the economy tenfold and achieving a USD 500 billion economy,” he said.
Key Findings Highlight Pressure on Uganda’s Natural Resources
Presenting the highlights, Dr. Peter Babyenda, the Coordinator of CEACM, disclosed that the policy briefs highlight growing pressure on Uganda’s natural resources.
The Energy System at Crossroads brief found that traditional biomass accounts for about 87 percent of Uganda’s final energy consumption, highlighting continued dependence on firewood and charcoal.
The Wood Stock Declining Pathway brief found that Uganda’s national wood resources declined by 45 percent between 1990 and 2015, with projections warning of possible exhaustion of available wood supply between 2032 and 2040 under current trends.
The Land Natural Capital brief identified unsustainable agricultural expansion, deforestation and urbanisation as major drivers of land degradation.
The Ecosystem Services and Asset Accounts brief noted that although the monetary value of ecosystem assets increased between 1990 and 2015, natural capital value per person declined by 17.7 percent due to population growth.
The National Water Accounts brief highlighted agriculture as the largest water user, accounting for 55.4 percent of total water abstraction in 2024, while warning of increasing climate risks.
Panel Discussion: Advancing Climate-Informed Economic Policy for Sustainable Development in Africa
Moderated by Prof. Edward Bbaale, the session featured the following panellists: Dr. Ronald Kaggwa-National Planning Authority, Mr. Wilson Asiimwe-Ministry of Finance, Planning and Economic Development, Mr. Nathan Mununuzi-Ministry of Water and Environment, Mr. Godwin Kamugisha-National Environment Management Authority, and Dr. Peter Babyenda-CEACM Coordinator and member of faculty at Makerere University College of Business and Management Sciences (MakCoBAMS).
The Panelists argued that assigning monetary value to forests, wetlands, water resources, and other ecosystems would enable evidence-based budgeting, investment decisions, and environmental protection while capturing costs ignored by traditional GDP measures.
They stressed the need for stronger institutions, increased funding, enhanced research and capacity building, and closer collaboration between government, academia, and development partners.
The event, organized by CEACM, brought on board distinguished stakeholders including the Minister of State for Environment, Hon. Beatrice Atim Anywar who represented the Minister of Water and Environment, Hon. Maj. Gen. (Rtd.) Kahinda Otafiire, Makerere University Vice Chancellor, Prof. Barnabas Nawangwe, the Principal, College of Business and Management Sciences (CoBAMS), and Director CEACM, Prof. Edward Bbaale and representatives from different Ministries and Agencies such as, the Embassy of Denmark in Uganda, the Global Green Growth Institute (GGGI), Ministry of Finance, Planning and Economic Development, the Ministry of Water and Environment, the National Environment Management Authority (NEMA), the Ministry of Lands, Housing and Urban Development, Ministry of Energy and Mineral Development, and among others.
CEACM is a research and policy centre that supports African countries in integrating climate change and natural capital into economic planning through research, capacity building, and evidence-based policymaking. CEACM is one of the centres within the School of Economics at the College of Business and Management Sciences (CoBAMS) at Makerere University.
The Public Investment Management Centre of Excellence (PIM CoE) at Makerere University is set to benefit from a grant under the World Bank-supported PIM-Plus Project, an initiative aimed at strengthening Public Investment Management Systems and enhancing the capacity for effective project planning, appraisal, implementation, and monitoring in Uganda.
Through the project, the Centre is expected to receive funding of approximately USD 8 million to support the construction of a modern teaching and residential facility. The proposed infrastructure is intended to enhance the Centre’s capacity to deliver high-quality training, research and technical advisory services in Public Investment Management (PIM) to government institutions and other stakeholders across the region and beyond.
The project’s construction activities are anticipated to commence in the next financial year following the completion of the necessary preparatory processes, including feasibility studies and project design.
As part of the ongoing project preparation activities, the PIM CoE today hosted a delegation of officials from the Ministry of Finance, Planning and Economic Development (MoFPED), who visited the Centre to assess progress made towards the implementation of the PIM-Plus Project. The visit provided an opportunity for the Ministry team to review the Centre’s readiness, discuss key project milestones, and identify areas requiring further attention to ensure timely project execution.
The Ministry delegation was led by Ms. Esther Ayebare, Ag. Assistant Commissioner, Public Investments and Project Analysis Department who commended the Centre for the progress registered thus far. She emphasized the importance of adhering to the project preparation timelines and urged the PIM CoE team to expedite the completion of the feasibility studies and other prerequisite activities necessary for project approval and commencement.
Ms. Ayebare noted that the successful implementation of the project will significantly strengthen the Centre’s role as a national and regional hub for capacity building, research and knowledge dissemination in Public Investment Management. She further underscored the Government’s commitment to supporting initiatives that enhance the quality of public investments and contribute to improved service delivery and sustainable economic development.
The Director of the PIM Centre, Prof. Edward Bbaale reaffirmed the Centre’s commitment to ensuring that all project preparation requirements are completed within the stipulated timelines. He noted that the planned facility will provide a conducive environment for training, accommodation and collaborative learning thereby strengthening the Centre’s ability to support the Country in developing and managing high-quality investment projects.
Dr. John Sseruyange, the Manager of the PIM Centre of Excellence emphasized that the Centre remains committed to delivering high-quality, demand-driven training courses that respond to the evolving needs of Public Investment Management practitioners and contribute to the successful implementation of Uganda’s Public Investment Management reform agenda. He further noted that the project will enable the Centre to effectively fulfil its mandate and contribute more meaningfully to addressing PIM capacity constraints in the region. The PIM-Plus Project forms part of broader efforts by the Government of Uganda and its development partners to improve the efficiency, effectiveness and impact of public investments, ensuring that public resources are directed towards projects that deliver maximum socio-economic benefits for citizens.
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