In April, President William Ruto opened a $220 million clinker plant in Kenya’s West Pokot  with a daily production capacity of 6,000 tonnes making it one of the largest clinker plants in the region.

Addressing journalists on Monday, Edna Agwata, Simba Cement’s Sales Manager said the new clinker  plant’s proximity to their plant in Tororo will ensure reduced costs which will in turn see prices of cement go down.

“Our new clinker plant provides a unique logistical advantage, enabling us to pass on cost savings to customers while ensuring top-grade cement is readily available,” Agwata said.

“Our proximity to raw material sources plays a crucial role in our pricing strategy. The newly commissioned clinker plant, which is very near to our Tororo plant, ensures logistical efficiency, reduced transport costs, and an overall lower carbon footprint. This efficiency allows us to continue offering affordable cement without compromising quality.”

, Edna Agwata, Simba Cement’s Sales Manager

Officials said Simba Cement will continue to redefine Uganda’s construction industry by offering top-quality cement at unmatched prices, setting a new standard for the sector, adding that the new clinker factor in Kenya will greatly contribute to this.

Heet Raval, Simba Cement’s Marketing Manager, highlighted the company’s strategy on the local market.

“Our focus has always been to offer high-quality cement at affordable prices without compromising quality. We believe that by supporting President Museveni’s vision of affordable housing, we contribute significantly to Uganda’s socio-economic growth,” Raal said.

“We are committed as Simba Cement to the government of Uganda and all Ugandan citizen to always provide cement at minimum affordable price to achieve their dreams to build their own houses The new clinker plant gives us a unique logistical advantage, allowing us to pass on cost savings to our customers while ensuring top-grade cement is readily available.”

According to officials, the company produces three main products including Simba Cement 32.5R CEM IV which is  ideal for all general-purpose applications such as housing and building construction, concrete work and domestic repairs, 32.5N CEM II designed for civil works, including large-scale projects like apartments and shopping malls and  Simba Power 42.5N for heavy-duty projects like bridges, roads, and high-rise buildings.

In a significant move to bolster economic growth and support Ugandans in wealth creation, Finance Minister Matia Kasaija announced that government will capitalize the Uganda Development Bank (UDB) with an additional shs55 billion.

The increased funding for UDB aims to provide more accessible and affordable financing options for businesses and individuals seeking to invest and expand their operations.

“During  financial year 2024/25, the bank will continue to provide capital to businesses involved in value addition, including promotion of innovation in the areas of science and technology. It will also support youth-led enterprises, manufacturers, and also provide working capital to exporters and those involved in import substitution. Green financing is also going to be enhanced to ensure climate adaptation and mitigation,” Kasaija said.

‘’To achieve this, government is going to further capitalise UDB with another shs55 billion. Government is also in the process of acquiring for UDB credit lines worth shs1.083 trillion to lend more to wealth creators. Uganda Development Bank has grown into a formidable shs1.6 trillion bank in assets, providing patient and relatively affordable capital to those adding value to agricultural raw materials, manufacturers, as well as investors in tourism and hospitality, infrastructure, and education. It has created a total of 51,841 jobs.’’

Additionally, Kasaija revealed that the government will allocate an extra shs100 billion to the Emyooga program in the next financial year, 2024/25.

Emyooga, a government initiative designed to support various socio-economic groups across the country, focuses on helping Ugandans create wealth and improve their incomes through affordable financial services and capacity-building programs.

“Government has provided a total of Shs 480 billion through Emyooga. Out of this, a total of shs268 billion has been disbursed to 6,810 Emyooga SACCOs. The beneficiaries have been able to save shs85 billion to further grow their SACCO funds. As a result, 607,636 individuals across the country have benefitted from the Emyooga funds, and shs80.28 billion has been recovered from the first-round beneficiaries and it is being advanced to others,’’Kasaija noted.

The government’s strategy to capitalize UDB and expand the Emyooga program aligns with broader efforts to stimulate economic activity, reduce poverty, and enhance the overall standard of living for Ugandans.

By providing targeted financial support, the government aims to empower entrepreneurs, small and medium-sized enterprises (SMEs), and other critical sectors of the economy.

Busia produce dealers have shunned the  shs25.4-billion government market, saying the design and plan of the facility does not suit their businesses.

This has left 333 produce stalls under lock and key ever since 2020.

Constructed under the markets and agricultural trade improvement program, Busia Central Market was commissioned by the government in December 2020 to host over 2000 vendors.

However, the modern market that was purposely constructed to contribute towards the national strategy of prosperity for all is yet to realize its objectives.

The storage facilities with capacity of over 3000 tonnes of grain, has remained redundant with all the 333 stalls under lock and key.

Produce dealers have continued to operate in dusty environments, protesting the market design that they say is not suitable for their business.

“You find that a person dealing in produce is given number 310, 320 in upper floor. There is no way someone can care a bag of maize or a bag of beans up the upper stores. That is the most thing that has affected, ” said Richard Wesonga, chairperson Busia produce dealers.

The group argues that the stalls being upstairs, makes it costly for storage of products.

Milly Katamba, one of the produce dealers confessed to Nile Post  how the cost of loading goods inside stores is expensive.

“Loaders ask for about 2000 per each bag they take upstairs yet that is the profit we normally get after selling a bag of maize. Now if you pay that will you remain in business?”

Muhammad Kadoli is yet another produce dealer who has since opted to do his business along streets to him, the entire construction of the market was badly done.

” This market was constructed like arcades not like a market. When you look at how the market was constructed, 90% is not workable” said Kadoli.

These now demand that for the multibillion facility to be fully utilized, the government should think of reallocating the stalls in a manner that can fit all businesses.

“Stalls should be re-allocated so that those dealing in produce are put down and those dealing in items like clothes, source pan put up” said  Wesonga.

The office of the RDC said they are trying to resolve the impasse.

” The issue of the design is above us but its good that the ministry has also noted it and we’re waiting for his communications ” said RDC Grace Kanuna

With the mess said to be hindering the government commitment towards servicing the loan that was used to construct the market, district security heads are not ready to sit and watch this happen.

“Why should we abandon the market on  our own and again cry that government has not helped us? We’re ready to use all our energies to fight those sabotaging the government program,” Kanuma added.

Last year, URSB removed at least 186,000 companies from the register for neglecting to submit returns.

After not filing returns for five years, the registrar of companies had initiated their removal.

However, in a notice dated June 11, URSB revealed that these companies can now apply for restoration on the register.

URSB emphasized that applications for reinstatement must be completed through the Online Business Registration System (OBRS) on their website by August 30, 2024.

“Companies desirous of being restored onto the register are required to apply to the registrar of companies by August 30, 2024,” URSB said in a notice.

Applicants have been instructed to create an account on OBRS and begin the data update process for their delisted company.

URSB cautioned that companies failing to request restoration by the deadline will be permanently deregistered, making their names available for use by others.

In stark defiance of those who doubted its progress, Uganda’s oil and gas sector has demonstrated a commitment to transparency, community engagement, and sustainable development throughout its land acquisition endeavours. Rather than succumbing to external pressure or allowing controversy to overshadow its efforts, the sector has remained focused on its core objectives, steadily laying the groundwork for a prosperous future.

One of the pre-conditions of the Final Investment Decision (FID) was for the Government of Uganda to ensure that land for the development of the necessary infrastructure to support the development of the Oil and Gas sector is fully acquired and availed to the developers. The developers are TotalEnergies E&P B.V Uganda (TEPU) and CNOOC Uganda Limited (CUL) for the upstream and the EACOP Company for the East African Crude Oil Pipeline corridor.

Uganda’s land law provides that any Project Affected Person (PAP) should be fully compensated before he/she is resettled. The Government through the Ministry of Energy and Mineral Development and continuous oversight from the Petroleum Authority of Uganda, therefore embarked on this arduous journey to acquire land for both the upstream and midstream projects.

Status of resettlement and compensation

Tilenga Project

Acquisition of over 2,900 acres of land for the Tilenga project has been completed. 99.1 per cent of the PAPs (4908/4954) have been duly compensated. A few hold outs, accounting for 0.8 percent (42) in number were subjected to the court processes and following a court ruling on December 8^th, 2023, the process was cleared to proceed.

Out of 205 resettlement houses for Resettlement Action Plans (RAPs) 2 to 5, 181 houses and land titles have been completed and handed over to PAPs, and construction is ongoing on the remaining sites. Completion of construction and handover of the remaining houses is expected to be concluded by March 2024.

Kingfisher Development Project

The Kingfisher Development Area (KFDA) project covers approximately 1,020 acres of land with a total of 727 PAPs. Compensation for the PAPs under the three RAPs was completed on May 17^th, 2023, when the court order to deposit compensation for one untraceable PAP was granted. All sixty-one resettlement houses to Project Affected Persons (PAPs) were completed and have been handed over with land titles.

EACOP Project

The East African Crude Oil Pipeline (EACOP) project spans approximately 2,740 acres of land in Uganda with 3,660 PAPs, 177 of whom qualified for resettlement houses. Construction of all resettlement houses for the project was concluded and the houses handed over to the affected persons.

At least 95 per cent of the affected persons have signed compensation agreements, with 91 per cent of these compensations completed. The remaining payments are ongoing. There are 116 cases under consideration for compulsory land acquisition due to reasons such as untraceable individuals, landowner disputes, and refusal of compensation offers.

Refinery Land:

A total of twenty-nine square miles has been fully acquired in Hoima District to host the Uganda Refinery project, Kabalega International Airport, and the EACOP terminal. Additional land for the inland storage terminal has been acquired in Namwambula, Mpigi District. The acquisition of the Right of Way for the products pipeline is currently underway.

With the land acquisition process almost 100% complete, the project continues implementation of livelihood restoration programmes. To comply with international standards, these plans are required to be in place. These will take three (03) years after which post-livelihood and land acquisition audits will be done.

The quality of the replacement houses, the value of livelihood restoration, and the unprecedented human touch will set a benchmark for other public projects, such as road construction, power lines, and any other public infrastructure. No wonder Uganda is receiving benchmark visits from countries like Ghana and Guyana on its land frameworks.

Even with these milestones registered, the process has not been devoid of challenges like the complex land tenure system in Uganda, untraceable and absentee landlords, multiple claims, and sustained opposition campaigns from neo-colonial agents disguised as go-green activists. These have, however, not deterred the sector from progressing and now with the project footprint secured, truly Uganda is on course to have its oil resources commercialized.

Credit: PAU

As the country’s economy grew, so did the need for a more efficient and secure way to conduct transactions. Cash transactions were prone to theft, fraud, and corruption, leading to a loss of trust in the financial system. The government recognized the need for a more modern and accessible financial system that would promote economic growth and financial inclusion for all Ugandans.

To address these challenges, the government introduced mobile money services, which allowed people to send and receive money securely using their mobile phones. This technology revolutionized the way people conducted financial transactions, making it easier for even the most remote communities to access banking services.

Additionally, the government introduced initiatives to promote digital payments and reduce the reliance on cash. This included providing incentives for businesses to accept digital payments, implementing electronic tax collection systems, and promoting financial education programs to increase awareness and adoption of digital financial services.

The benefits of a cashless economy soon became apparent, with increased efficiency, transparency, and financial inclusion for all Ugandans. People were able to save money, access credit, and conduct transactions more securely and efficiently. The government saw a reduction in corruption and an increase in tax revenues as more transactions were conducted through formal channels.

As a result, there is now a concerted effort to further promote a cashless economy in Uganda, to increase financial inclusion and drive economic growth for all citizens. By embracing digital financial services and reducing the reliance on cash, Uganda is paving the way for a more prosperous and transparent financial system that benefits everyone.

The 15 entrepreneurs from Youth Startup Academy (YSA) Uganda took full advantage of GITEX Africa 2024, and some left with new international partnerships.

New partnerships with global partners

Energized by the vibrant atmosphere of GITEX Africa, YSA Uganda entrepreneurs showcased their innovative businesses to more than 1,000 visitors. From exchanging insights with industry leaders to pitching their ideas to investors, these dynamic startups demonstrated their ability to innovate. With the event’s focus on the continent’s booming tech ecosystem, the YSA start-ups attended more than 100 meetings with potential investors and businesses partners. These meetings forged valuable connections that will elevate their ventures.

• Ntakye Holdings, which produces solar-powered farm equipment, signed a partnership with Jubix, a Korean company developing an electric energy service platform. The two companies will research and develop energy monitoring devices and explore trade between their markets.
• Canine Safari Ltd. agreed to use the AI-based translation provided by Korean firm Flitto Inc. to provide East African tour information in more languages.
• Hive Colab, an incubation hub which has operated YSA since 2022, signed an agreement with Dain Leaders Corp., a Korean digital healthcare company. Together, they will develop joint training and research, and assist exchange between Ugandan and Korean startups.

The Ugandan government also showed active support for YSA participants. Godfrey Kabyanga, the State Minister of ICT and National Guidance of Uganda, promised government support for Kikazi Agri Products, which produces millet flour. Kikazi is now set to be connected to the Uganda Research Institute (URI) for mass production, to gain access to advanced machinery, and to scale up their production.

Two YSA semi-finalists at the Supernova Challenge

In the Supernova Challenge, billed as Africa’s biggest pitch competition, YSA’s IKnowFarm and Anchor machines reached the semifinals. Anchor machines uses a web-based and a mobile GPS application to connect earth-moving equipment like excavators or bulldozers to clients in road construction and farming.

IKnowFarm is an app that helps farmers grow better crops and animals, with 24/7 extension services, weather forecasts, market linkages, and digital literacy trainings.

The sensitisation drive comes at a time when the digital tax administration measure that interfaces the taxpayers’ daily transactional operations with the tax collector’s systems is facing resistance from wholesalers across the country.

Deus Mugasho, a tax literacy officer from URA, said the tax body found it necessary to enlighten the manufacturers more about the system, although they already use it. The system was first enrolled in the manufacturing sector and later in other segments of the business community.

According to Mugasho, the manufacturers appreciate the solution not just for using it as a URA requirement that is forced on them. He adds that since manufacturers were among the system’s early adopters, they could help others understand it if they were also well conversant with the solution.

During the meeting, manufacturers raised several concerns, some calling for a total overhaul of the entire system and a VAT rate of 18 per cent.

“When we are doing things let us not look at other countries like Kenya, Rwanda, and so on; let us look at ourselves. If it’s 18 per cent, a small portion of people participate in the VAT bracket. EFRIS automatically opens up a lot of people into the VAT bracket which is a good thing. I don’t think you lose so much if you advise the government to adjust the rate and make things like sugar more affordable to many Ugandans,” one manufacturer explained.

He added that the government should keep in mind the burden that is put on the final consumers because as commodity prices increase, they have an option of abandoning consumption and finding other ways of survival, which affects the revenues collected.

The other concern from the manufacturers was a call for URA to refrain from calling themselves mere revenue collectors, saying it is not the true representation of who they are because they are the face of government taxation in the public, so they should also have an advisory role.

“For us as taxpayers, we expect the ministry of Finance to listen to URA’s advice because it would have gotten it from our views. For us as manufacturers to keep in business, we expect the supply chain to continue and people to be able to buy whatever we are manufacturing. The EFRIS system has exposed the business community, and this will affect operations; therefore, a lot of sensitization is required,” said another manufacturer.

Muzamir Mabira, UMA head of research and policy, noted that the engagement was necessary to eliminate the lack of understanding between the EFRIS enforcers and the system trainers. He adds that it is disappointing to see URA offering EFRIS non-compliance penalty waivers to traders who are even opposing the solution but deny the largely compliant manufacturers.

The ambitious strategy for 2024–2033 is designed to address Africa’s critical challenges and to steer the continent back onto a path of sustained economic growth and prosperity.

Speaking at the Bank’s Annual Meetings in Nairobi on May 29, AfDB President Akinwumi Adesina said, “As Africa’s premier development finance institution and solutions bank, we recognize that the coming decade is crucial for transforming the continent. Celebrating 60 years of impactful service, we are more determined than ever to accelerate our support for African nations.”

The strategic plan, approved by the Board earlier this year, outlines urgent and decisive actions to help African countries navigate a landscape marked by the post-Covid-19 fallout, including heightened food insecurity, burgeoning debt crises, and escalating climate change impacts. Additionally, Africa faces increasing conflict, political instability, and a significant exodus of its youthful workforce seeking opportunities abroad.

Central to the AfDB’s 2024–2033 vision is a commitment to leveraging Africa’s unique assets—its dynamic young population, rapidly urbanizing markets, abundant natural resources, and vast clean energy potential—to drive sustainable growth and make substantial contributions to global solutions.

“The Ten-Year Strategy focuses on investing in Africa’s greatest asset: its vibrant young men and women,” Adesina said. “With the world’s fastest-growing population, Africa has a unique demographic opportunity.”

The strategy envisions a prosperous, inclusive, resilient, and integrated Africa, with two primary objectives: accelerating inclusive green growth and fostering prosperous, resilient economies. The Bank will strive to balance environmental sustainability, equity, and economic advancement.

Building on a decade of successful High 5 implementation, the AfDB plans to enhance and scale its efforts, emphasizing transformative projects with significant impacts. To optimize outcomes and manage risks, the Bank will streamline its operational model for increased agility and effectiveness.

Light up and power Africa, feed Africa, industrialize Africa, integrate Africa and improve the quality of life are the Bank’s High 5 operational priorities which are also integral to achieving the aforementioned objectives.

Key cross-cutting priorities include promoting gender equality, investing in youth, addressing climate change, supporting fragile states, and promoting good governance and economic stability.

Recognizing the critical role of the private sector, the AfDB will strengthen collaboration, prioritizing investments in firms, value chains, and MSMEs, particularly those led by women and youth. The Bank aims to mobilize greater resources than ever before, including domestic revenues and private finance, with a goal to triple private-sector finance by 2033.

To boost its financing capacity, the AfDB will explore innovative mechanisms such as Sustainable Hybrid Capital, Risk Transfers, and rechanneling significant portions of the IMF’s Special Drawing Rights through Multilateral Development Banks (MDBs).

The Strategy underscores the essential role of MDBs in addressing global and regional challenges, providing low-cost finance, technical knowledge, and policy advice to emerging and developing countries.

The AfDB pledges to scale up its efforts, responding to the significant ambitions and priorities of African nations, and tackling the challenges that affect the continent’s people.

Highlights of the Strategy

Investing in women and young people: The Ten-Year Strategy outlines how the Bank will invest in Africa’s best asset: its vibrant young men and women. Africa’s population, which is the youngest and fastest growing in the world, presents the continent with an unparalleled demographic window of opportunity. The Bank will address disparities and promote inclusivity by empowering women and youth, enabling them to contribute meaningfully to sustainable economic growth and prosperous societies.

Climate change adaptation: Recognising Africa’s vulnerability to climate change, the Bank will promote low-carbon development pathways aligned with the Paris Agreement while safeguarding biodiversity and nature.

Supporting fragile states and building resilience: Amid rising conflicts, fragility, and political instability in Africa, the Bank will intensify efforts to assist fragile countries. Special attention will be given to tackling cross-border challenges and reducing the isolation of landlocked and remote areas.

Promoting good governance: The Bank emphasises the importance of economic governance, including domestic resource mobilisation, transparent financial management, and anti-corruption measures. Sustainable debt management practices will also be prioritised to ensure long-term economic stability.