|Statement||by Adam Mugume and Marios Obwona.|
|Series||Research series ;, no. 27, Research series (Makerere University. Economic Policy Research Centre) ;, no. 27.|
|LC Classifications||HG4028.C4 M79 2001|
|The Physical Object|
|Pagination||38 p. :|
|Number of Pages||38|
|LC Control Number||2002345654|
Overview of the Financial Sector i) Banking Sector; Includes Commercial Banks (25), Credit Institutions (3), Microfinance Deposit-taking Institutions (3), Forex Bureau () and Money Remitters (58). The Supervision and Regulation of banking activity is vested in Bank of Uganda (BOU). BOU conducts on-site examination of all. The paper looks at the evolution of industry in Uganda examining drivers and constraints since the pre-colonial period in the s to date. It is argued that the state played a centralFile Size: 1MB. increasing accessibility to private sector credit among others. Government’s sustained focus on better service delivery, higher investment and public financial management reform will continue to yield results towards inclusive growth and structural transformation. NOTE: 1) The information regarding Uganda on this page is re-published from the World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Uganda Economy information contained here.
This industry had reached its zenith in the s, when it accounted to 30% of the nation’s export income. Revenues from this industry increased to 48% between and Although Uganda has huge deposits of gold, tantalite, copper and cobalt, lack of sufficient exploration proves to be a major drawback. The economy is projected to grow by % in /20, driven mainly by increased investment in value added activities in the agriculture sector, the services sector and ongoing government investment in public infrastructure. The economy is generally stable, with inflation averaging % from until Investment in infrastructure will have a strong bearing on economic growth, with the construction industry expected to expand rapidly. The power sector is poised for growth, with a total of eight generation projects including two large Chinese-funded hydropower projects, scheduled to be commissioned in For instance, up to US$9 billion worth of investment is expected in Uganda's oil sector over the next two to three years. The increased activity in construction and other secondary-tier sectors is expected to stimulate productivity across the entire economic value chain to drive growth.
Access to financial services remains a primary impediment to the growth and competitiveness of Uganda’s economy ((MoFPED ) and National Development Plan, ).Private sector credit growth has remained relatively low, averaging about 23% versus the sub-Saharan average of % percent over the last 10 years (World Bank ).The advent in Uganda of mobile money, a . The investment portfolio in Uganda is primarily financed by the International Development Association (IDA), which provides interest-free credits and grants on concessional terms, attracting only an administrative service charge of % on the disbursed credit amount. Loan repayments are stretched over 38 years, including a six-year grace period. Uganda's Infrastructure Investment Promise. J Drought, slow credit growth, and indirect effects of regional conflict are taking their toll on Uganda, but infrastructure and oil sector investment could boost growth over the next 3–5 years, said the IMF in its annual assessment of the Ugandan economy. The ratings agency said on Friday that the decision was constrained by Uganda’s low average income rates and large but falling fiscal deficits. “Although we expect strong economic growth over , we forecast that per capita real GDP will rise more modestly at an average 2% because the population is increasing by a high average of 3%.