The appointment of Professor Augustus Nuwagaba as deputy central bank governor brings to a close more than three years of speculation about him joining the same institution. Nuwagaba, an economist, academic, and researcher, has long been associated with the top position at the Bank of Uganda, especially after the passing of Governor Emmanuel Tumusiime-Mutebile in January 2022.
EADB Country Manager, Francis Ogwang, also responded to the calls by the Minister to invest in job-creating ventures, saying their lending strategies were in line with the government priority areas as set out in the National Development Plan and the Parish Development Model.
In a memorandum addressed to the UCAA’s Director General, the leaders—many of whom are businessmen—argued that the airport would be a transformative milestone in aligning the Lango sub-region's socio-economic growth with national priorities such as Vision 2040 and the National Development Plan IV.
An economist, Atingi-Ego served previously as Executive Director of the Macroeconomics and Financial Management Institute of Eastern and Southern Africa (MEFMI), based in Harare, Zimbabwe.
Ggoobi expressed concern that during heated election periods, many Ugandans tend to abandon their economic activities and focus excessively on politics, which negatively impacts productivity and economic growth.
Some of the losses emanate from taking loans without planning, leading to incidents where the country pays huge penalties on undisbursed loans. The penalties come in form of commitment fees on top of interest on debt. Mukunda called for criminal sanctions where there is negligence or out-right abuse to ensure the officers, be it at the centre or local governments adhere to procedures and processes.
The project’s expansion now includes; Increased Funding Mechanisms, in addition to the current loan structure, new financial pathways are being introduced: Microfinance institutions and cooperatives to cater to women needing UGX 2-3 million loans. Introduction of grants alongside loans to ease financial strain. Risk-sharing mechanisms with banks to improve lending terms for women.
Macvic Mugisha, a resident of Nyakinama Sub-County in Kisoro District, recounts his experience in December 2024 at Kampala’s Namayiba Bus Park. He says he was convinced by Abapakasi bus operators that the bus would take him directly to Kisoro for UGX 80,000. However, upon reaching Kabale town, he was ordered to get off the bus.
