dfcu Bank has announced a partnership with the Agriculture Development Centre and Rabobank in an effort to support farmer -based organisations and cooperative unions across the country become self-sufficient, an effective tool to transform the agricultural sector in Uganda.

The announcement was made at an event in Lira that was attended by various stakeholders and farmers from the region.

Speaking at the event, dfcu Bank’s Head of Corporate and Institutional Banking, Godfrey Mundua said the partnership between ADC, Rabobank and dfcu Bank is aimed at supporting farmer organizations become profitable, sustainable and ultimately bankable.

“The agricultural sector of Uganda is the backbone of our country. By proving employment for millions of Ugandans, it directly grows our economy.

“dfcu Bank has always committed to the empowerment and growth of the agricultural sector in Uganda. Besides providing financial banking to our farmer clients, we have developed products that are tailor-made to meet the needs of their businesses- both as individuals and groups,” Mr. Mundua said.

The Agriculture Development Center will equip Cooperatives and Farmer Based Organizations (FBOs) with agribusiness skills through trainings in governance, financial management, financial literacy and marketing skills.

Mundua also emphasized the value of the partnership. “By partnering with The Agriculture Development Center and Rabobank, we will provide farmer based organizations in the region with the necessary skills that will eventually make them eligible for credit financing from commercial banks.

“By providing training skills in governance, financial management, financial literacy and marketing, we believe that the Farmer Based Operations will continue to grow their operations in ways that are of benefit to both them and the wider communities,” he added.

The Executive Director of The Agriculture Development Centre Anja de Feijter commented on the positive impact the partnership will have on farming communities across the country.

“ADC envisions promoting self-sufficiency as an effective tool to transform the agricultural sector in Uganda. This can be achieved by strengthening Farmer Based Organizations in respect of efficiency and creating economies of scale, in order to make them profitable, sustainable and bankable enterprises that are able to provide efficient and effective services to their farmers,” he said.

The Agriculture Development Center started its operations in October 2017 in Eastern, Western, and Northern Uganda.

Lira is the first district whose Farmer Based Organizations received a two-day training on various agribusiness skills including; governance, financial management, financial literacy and marketing expertise.

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The Uganda Debt Network (UDN) has urged the government to establish simpler registration procedures to formalise the informal sector, expand the country’s revenue base and reduce public debt.

According to UDN, a national civil society organization which tracks how government manages the public debt wants the government to balance between public investment especially infrastructure and macroeconomic stability in light of increased domestic borrowing on exchange rate and debt.

“Increase linkages between public infrastructural investment and rapid growth areas like Agriculture to expand productive capacity of Uganda’s economy,” UDN says, and adds that the Ministry of Finance has so far released sh4.1 trillion for debt repayment for the first half of the financial year.

To reduce debt accumulation, UDN wants government to scale down annual budget sizes for instance by slashing recurrent sector budgets, reversal of wasteful expenditure and rationalization of the  run-away cost of public administration.

The NGO says that much as government is committed to paying debts, the country’s debt levels still remain high.

‘In March 2011, Uganda’s debt was US$4.29bn and it is expected to increase beyond US$ 13bn in FY 2017/18 hence raising debt costs,’ it says.

A report by Bank of Uganda in June, 2016, UDN says, showed that public debt stock stood at Shs46.1 trillion (US$13billion) by April 2016, which was about 52% of GDP, already beyond the 50% threshold and is pushing the country into another debt trap. UDN warns the level of sustainability notwithstanding is unhealthy for an economy aspiring to reach mid-income status by 2020 with a debt position that is more than half of its GDP.

UDN is one of the civil society organizations that have over the years called upon the government to have a more transparent approach to budget policies, public particularly have urged the Finance ministry to improve access to the details entailed in the national budget document.

The NGO has urged the public to pay more attention to the money that has been allocated to various entities and ensure its properly utilized. “The public should also demand for accountability since close to 70% of the National Budget is funded domestically and mainly by taxes that citizen’s pay,” it says.

Meanwhile, in an attempt to simplify the details of the national budget for ordinary Ugandans as way of promoting transparency and accountability, the finance ministry mid-October published a guide that the various stakeholders can use to follow the budget.

The guide, known as ‘Know Your Budget citizen’s guide to the 2017/18 budget’ was launched by Finance minister Matia Kasaija in Kampala.

The booklet spells out the country’s economic performance and outlook, revenue and tax measures, expenditures and interventions in key sectors like agriculture, energy and mineral development, works and transport, education, health, water and environment, social development, security and policy initiatives.

The citizens’ guide aims to enrich and enable government clients, civil society organisations, development partners and the general public to understand government plans by highlighting the strategic objectivities of the FY2017/18 Budget and provide understanding of new tax measures and reasons behind the resource allocations to key sectors.

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MTN Uganda will host an exhibition for the 45 selected submissions for the MTN Innovation Awards 2017, scheduled for Saturday, October 28^th 2017 at the Shoprite Lugogo Mall parking area.

According to a release by the telecom giant, on display will be the 45 finalist entries that have made it to the next phase of the MTN Innovation Awards 2017, with the category winners taking home an improved package of US$3000, up from US$1000 in 2015.

The nominees were selected from over 200 applicants that responded to the call for entries for the 2017 MTN Innovation Awards 2017. The call for entries closed on October 6^th 2017 and since then, an independent auditor has been reviewing the entries to come up with a finalist list of 45 entries.

The purpose of the exhibition of the public to view the amazing work done by technology innovators, especially the impact they are creating in society. The exhibition will take place all day starting at 9am. The interaction with the nominees will provide insight into the development and operation of the innovations.

Additionally, the panel of five judges will review each of the nominees in order to make a decision on the eventual winners of the 9 categories.

MTN is seeking to recognize both Mobile and Web-based applications developed by Ugandans. The choice of categories like Finance, Agriculture and Health lays emphasis on MTN Uganda’s commitment to scale sectors critical to the improvement of lives and communities through digital innovations. The awards are in line with MTN Uganda’s mission to make the lives of Ugandans brighter.

The MTN Innovation Awards 2017 will also recognize the Outstanding Woman in Innovation, Innovation Achiever of the Year and Most innovative Mobile App. The winners will be recognized at an Awards Gala to be held on November 8 2017.

In 2015, the winners included, ClinicMaster, BrainShare, Yo! Payments Gateway, Intelligent Works, Outbox, Fezah, Lyndsay Handler of ReadyPay – Outstanding Woman in Innovation and Solomon King of FundiBots – Innovation achiever of the year.

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