Ugandan Banks Demand Special Talks To Support $500 Billion Economy Plan
Uganda’s banking industry has called for a meeting with President Yoweri Museveni and a special Parliament session to discuss reforms that can help achieve the country’s $500 billion economic target.The Uganda Bankers’ Association (UBA) said it wants lawmakers and the Executive to consider proposals aimed at improving access to finance, attracting investment and expanding private sector growth.
UBA Executive Director Wilbrod Humphreys Owor said the banking sector is ready to support the government’s Tenfold Growth Strategy, which seeks to transform Uganda’s economy by 2040.
The strategy focuses on key sectors including agro-industrialisation, tourism, minerals, oil and gas, and science and technology.Bankers said achieving the target will require more than traditional lending, calling for stronger capital mobilisation, digital innovation and cooperation between government and financial institutions.
