Wealth creation driving national economy

Publication Date: 
Tuesday, June 24, 2025

 

Presenting the national budget for the coming fiscal year 2025/26 Finance Minister Hon. Matia Kasaija said government had injected over Ugx 9 trillion in initiatives to increase household income and build wealth creation in the last 10 years.

Addressing a special sitting parliament on Thursday, June 12, 2025 at Kololo ceremonial ground , Kasaija broke down the investment as Uganda Development Bank (Ugx 1.45 trillion), the Parish Development Model (Ugx 3.3 trillion by end of financial year 2024/25), Emyooga (Ugx 553 billion), the Youth Livelihood Programme (Ugx 207.95 billion), the Small Business Recovery Fund, (Ugx 100 billion), the Agricultural Credit Facility (Ugx 495 billion),

Other programs include the Youth Venture Capital Fund (Ugx 12.5 billion), Uganda Women Entrepreneurship Programme (Ugx 168 billion), the INVITE Project (Ugx 800 billion), the GROW Project (Ugx 824 billion), and Uganda Development Corporation (Ugx 1.2 trillion), among others.

He revealed by the end of the current financial year 2024/25, a total of Ugx 3.3 trillion would have been transferred to the 10,589 parishes across the country to elevate  households into the money economy.

So far PDM funds have reached 2.63 million beneficiaries in all districts and parishes with each parish receiving Ugx 100 million in a year. The beneficiaries have invested 45 percent of the money in cash and food crops, 36 percent in livestock ,12 percent in poultry, and 6 percent in other enterprises.

He said government had provided an additional Ugx 1.059 trillion next financial year 2025/26 for further capitalisation of PDM.

In a move to enhance efficiency and convenience in access, and reduce corruption, government has fully digitalized PDM operations to ensure secure and smooth flow of the monies directly from the National Treasury to the beneficiaries. This has been achieved through the National Identification Number (NIN) and the PDM Information System (PDMIS) to identify the beneficiaries, the WENDI application to send the money, and the ZAIDI application to monitor and ensure that the money goes to the right beneficiaries.

To support Ugandans engaged in specialized trades known as Emyooga  particularly in urban and peri-urban centres, Kasaija said government to date has provided Ugx 660 billion benefitting2.4 million Ugandans in creating 471,000 jobs and kick-starting a new local economy in value-added enterprises such as wine-making, carpentry, coffee value addition, metal fabrication, tailoring, artisanal products, mechanics, women in markets, restaurants and services like hair and beauty salons and transport, among others.

Government is providing an additional Ugx 100 billion next financial year to support more Emyooga enterprises as off-takers of PDM outputs. Additionally following the enactment of the new TVET Act, government will support certification and issuance of practising permits to competent practitioners benefitting from the Emyooga Programme.

The economy more than tripled to Ugx 226.3 trillion, equivalent to USD 61.3 billion, this financial year 2024/25, from Ugx 64.8 trillion, equivalent to USD 27.9 billion, in FY2010/11,  according to Kasaija, this notable economic performance has been driven by President Yoweri Museveni’s commitment and deliberate investment in wealth creation initiatives.

Government has allocated Ugx 11.44 trillion next financial year towards investing in the people of Uganda through health, education, social protection, and water and sanitation.