“The Q3 release aligns with our efforts to reallocate resources from old priorities to key growth drivers. Our focus remains on promoting technical efficiency and ensuring service delivery at the lowest cost,” said Ggoobi.
The crop losses in the district over the years had stood at 40% according to records from the production department, but the losses dropped to 32% in the 2024 farming season with innovations for farmers.
Uganda Development Bank (UDB) a government fully owned bank has a formidable shs1.6 trillion bank in assets, providing patient and cheap loans. In 2024/25, the government will offer an additional 55 billion shillings to further capitalize the bank.
The IDR is given by the rating firm to a financial institution based on international lenders' opinion of its ability to pay. The Government Support Rating is equalized with Uganda's sovereign rating, reflecting Fitch's view of the authorities' high propensity to provide support.
The Bank says private sector companies are operating at 30 per cent capacity after COVID-19 effects, as hotel room occupancy rises to 33 per cent. UDB-Supported enterprises created 41,000 jobs in 2021.
The Ministry of Finance, Planning and Economic Development attributed this to the sustained promotional activities targeted at Small and Medium Enterprises to access financing for revival from the effects of the COVID-19 pandemic.
Rehema Kahunde, a researcher at the Makerere University-Based centre says that they did a survey in 22 districts, a month after the school reopening. During the study, they asked private school headteachers about the attrition rate of both teachers and students in addition to how prepared they were to resume following the world’s longest school closure.
But, Grace Kiwanuka, the Executive Director of Uganda Healthcare Federation (UHF) says the president was only given half the information since their earlier meetings with UDB had shown that they are not an alternative to their problems considering the uniqueness of the health business.
An assessment presented by UDB Executive Director, Patricia Ojangole shows that on average, 80 per cent of private sector businesses need financial help like physical cash, debt rescheduling or direct loans to be able to overcome the effects of the pandemic.
