Kainomugisha Caroline.
On March 20th, 2020, following a presidential directive, schools, public and private offices, businesses (bars, shops, restaurants, factories etc.), NGOs, CSOs were closed with an exception of essential service providers like hospitals, food markets, and supermarkets.
We were all under lock and key in our homes, whatever that meant for each one of us as Ugandans, expected to survive on savings. For many of us, these were savings from January to March, basing on the assumption that most Ugandans spend almost 80% of their annual savings in the festive season.
For the first time since I was born, International borders were shut down for both human and goods travels. One would say, all countries across the world became land-locked, entirely dependent on internally and locally produced goods and services and previously imported goods. Uganda, on the other hand, kept its borders open to allow the movement of trucks engaging in cross-border trade.
The un-expected and under-estimated COVID-19 pandemic, according to textbook economic analysis was expected to create an economic depression, mirroring that from the Global pandemic of 1918, characterized by unemployment, a fall in exports, and overall global Gross Domestic Product.
A case in the point, Global GDP fell from USD 87.6 billion in 2019 to USD 83.8 billion, The Organization for Economic Co-operation and Development (OECD) youth (people aged 15-24yrs) the unemployment rate increased up to 14% in January 2021 from 5.1% in January 2020.
Also, by July 2020, imports across Africa had fallen by 17% and exports by 21%. While the rest of the world except for China and South Korea were struggling to collect revenue, Uganda’s revenue collections rose to UGX. 19,697.99 billion in the FY 2020/21 from UGX. 16,751.64 billion in FY 2019/20.
We also reported a small positive growth in Gross Domestic Product of USD 35.484 billion in 2020 from USD 35.17 billion in 2019, which can clearly be explained by the reduced production countrywide during the months of March-August.
Uganda has not only done so well during the 1st wave of COVID-19, but it has shown a tremendous economic transformation from 2016-2021. Just last week Ministries, Agencies and Departments (MDAs) were presenting their achievements according to the NRM manifesto 2016-2021.
Among them included, Ministry of Trade, Industry, and Cooperatives, Ministry of Finance, Planning and Economic Development, Ministry of Agriculture, Animal Industry and Fisheries and others.
The proceedings brought to light various achievements that deserve a pat on the shoulder namely; Uganda’s revenue collections have grown from UGX. 1,385.56 billion In 2016 to UGX. 19,697.99 billion, Exports stood at USD. 4.15 billion In 2020, showing a growth of USD 1.66 billion from USD 2.48 billion in 2016. The tremendous rise in revenue and exports facilitated a positive growth in Gross Domestic Product per-capita from USD 733.43 in 2016 to USD 794.34 in 2019, according to the World Bank.
Relatedly, Uganda’s economy grew from 3.809% in 2017 doubling to 6.803% in 2019, according to World Bank data. This means a positive trend facilitated the reduction in poverty through the structural transformation of Uganda’s production.
There has been a great shift in the percentage of Uganda’s labour force working in the agricultural sector from 43.2%, with 16.4% in the industry to industrial production especially in agro-processing.
In this light, many industries and factories have mushroomed such as Atiak Sugar processing factory which employs over 2,500 out-growers, Soroti fruit processing factory which employs 1,123 people, 15 tea factories in Kyenjojo, Buhweju, Kanungu, Bushenyi, Rukiga Kisoro, Ntungamo, Kamwenge, Luweero, and Mbarara. This has improved standards of living of the beneficiaries of these jobs.
Also, important to note is the ratifications of the African Continental Free Trade Area (AFCTA) which paves way for Uganda to access a 1.2 billion people market for its exported goods and services projected to attract Foreign Direct Investment from partner states.
In trade, we have also been able to fully establish One-Stop Border Posts and regional markets across the country in conjunction with Trade Mark East Africa. These include Busia, Mutukula, Mirama hills, Elegu, Katuna, Malaba among others.
Yesterday the 12th of May 2021, President Museveni swore in for the 6th term and this will usher him to the implementation of the NRM Manifesto 2021-2026 with a theme, 'Securing Your Future'.
However, before we close the 2016-2021 chapter, we must not forget how far we have come, there’s joy in celebrating every small milestone of the great nation.
The Writer is a Communications Assistant Digital Media Unit, Ministry of ICT & National Guidance.
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