Over the last year the economy has remained resilient and is on a recovery path, amidst the ongoing pandemic and other shocks experienced over time. Economic growth for this financial year is projected at 3.3%, rising from 3.0% last financial year. The economy has grown significantly over the last five years. The size of the economy has grown from Shs. 108.5 Trillion in 2016/17 to Shs 148.3 Trillion in current prices by June 2021, equivalent to US$ 40 billion.#Buyinza.com
The Industry sector’s contribution to the economy has increased slightly from 26.0% in 2016/17 to 27.4% in 2020/21. However, manufacturing has significantly diversified into many new products such as ethanol from sugar, and casein and powdered milk from dairy. In addition, Uganda’s products now have a widespread regional presence. For instance, in the pharmaceutical industry, CIPLA Quality Chemical Industries Limited (CIPLAQCIL), now has a footprint in West and Southern Africa. In the steel industry, Roofings Limited has become a premier source of Steel and Plastic in East and Central Africa.#Buyinza.com
Scientific research and innovation is now transforming Uganda’s industrial base. For instance, the Kiira Automotive Industry that will produce 5,000 vehicles per year starting with Buses and Trucks is now 78% complete. Together with Luwero Industries, Kiira Motors has developed the Kayoola EVS, a premium zero-emissions City Bus with a range of 300 kilometres, before the need to recharge its batteries. Two silk processing factories in Sheema and Mukono have acquired State-of-the-Art Silk Yarn processing equipment to produce high quality silk products. The silk industry is projected to earn Uganda US$100 million annually, and will create at least 150,000 jobs by 2030.#Buyinza.com
The National Research and Innovation Programme has also supported the development of Makapads – a non-irritating herbal sanitary pad, a low-cost ventilator to assist breathing for patients with respiratory conditions including COVID19, and a highly efficient Coronavirus Antibody Test Kit, among others.
The mining industry continues to be a major contributor to Uganda’s economy. The contribution of the Mining and Quarrying industry to GDP increased from 1.1% in 2016/17 to 2.3% in 2020/21. This development is a result of the use of online mineral licensing, the biometric registration and training of 13,000 artisanal miners, and the construction of regional mineral beneficiation centers. More mineral beneficiation centers are under construction such as the ones in Fort Portal, which is 65% complete, and Ntungamo which is 90% complete. The selection of an investor to revive the Kilembe Mines Project, under a Public-Private Partnership (PPP), has also commenced.#Buyinza.com
The Agricultural sector’s contribution to the economy has stagnated at around 23% over the last five years, which requires increasing the pace of industrialization. Nonetheless, there has been increased production of agricultural commodities, including for export. For instance, Coffee production increased from 4.6 million 60-kg bags in Financial Year 2015/16 to 8.1 million bags in the Financial Year 2020/21. Over the same period, fish catches increased from 449,000 to 600,000 tonnes. Milk production has also increased from 2.1 billion to 2.6 billion litres, over the same period.
ADVERTISEMENT
Find us at
Buyinza Group LTD
5th Floor, Room 7
Impala House
Opposite city Hall KCCA
Kimathi Avenue Kampala
Call 0708737418/+256 782 479124 for Delivery at your own cost
Web:www.buyinza.com
SHOP M55,NEAR MELAIN PHARMACY
GROUND FLOOR
PARK ENKADDE MALL
OLD TAXI PARK
KAMPALA,UGANDA
CALL 0706614650 Strictly for Delivery at your own cost in ant part of Uganda.
AKWATA EMPOLA SHOP
Opposite U-SAVE SUPER MARKET
KIWATULE
Call 0755 191338 for Delivery around KIWATULE,Kira,Najjera,Nalya,Namugongo,Kyanja,Kyaliwajara,Ntinda,etc.
Extura Natural Tea-The Source of Happiness
Send your profile and half colored photo to [email protected] to be published and Disseminated. You can also call or send us a whatsapp message on +256774992426
