By Maria Acan
The Minister of State for Industry, David Bahati has said his sector, which generated Shs 6Tn (24%) revenue earnings in 2022/2033, created two million direct jobs over the same period and is projected to produce four million more direct jobs in the next financial year.
“In the year we are ending, manufacturing registered growth of 3.9% in 2022/23 from 2.2 in 2021/22 and offered direct employment to over 2,000,000 million people, contributing 24% of the total tax revenue collections which translates to 5.97trillion in the financial year 2022/23,” said Bahati.
The government prioritized Manufacturing Programme to increase the range and scale of locally manufactured products for imports substitution and increased exports to bring in the much needed foreign exchange.”
“In the year 2023, the Government prioritized financing for industrialization through increased capitalization of Uganda Development Bank which now stands at 1.5 trillion Ugx. Investors in manufacturing can access this funding at an interest rate of not more than 12%,” said Bahati.
Adding: “Other funding opportunities, especially for Micro Small Enterprises, especially for Micro Small Enterprises have been made available through Micro Finance Support Center (890 million UGX), 480 million under Emyoga programme and to the SACCOs under PDM to the tune of Ugx 2.2 Trillion.”
On the sustainable electricity supply, the Minister said the Government has created a conducive regulatory environment and incentives aimed at diversifying the Country’s power Generation Mix.
“Currently, Uganda’s Power Generation is mainly diversified across Four (4) different sources namely: Hydro – 1,123.59 MW; Thermal -100 MW; Cogeneration from bagasse – 63.9 MW; Grid-connected Solar – 60 MW giving a total of 1347.49 MW,” he said.
The Minister noted that President Yoweri Museveni has this 2023 commissioned 16 of the 40 big factories and presided over the groundbreaking for the construction of 9 factories in Sino- Mbale Industrial Park. 1,000 other small factories have been erected by the small-scale manufacturers.
Some of the major factories include the 100 Million USD beverage and confectionery plant of Harris International Limited in Tula, Kawempe Division, diagnostic test kit manufacturing plant in Ntinda, Kike Tropical Fruits (U) Ltd in Kakonge, Nakasongola district, newly expanded Tororo Cement plant, Tembo Steels Uganda Limited (TSUL) TMX steel rebars and Go Cylinder factory, among others.
