Uganda Roundup: Presidential term limit, oil monopoly, supplementary budget
Presidential term and age limit
Research conducted by Ugandan firm, Hatchile Consult across 119 districts with 24,000 respondents indicates that the majority of Ugandan citizens want a restoration of term limits and age restrictions associated with the presidency. The report indicated that 71% of Ugandans support the restoration of term limits while 80% favour reinstatement of age restrictions, the Monitor reported. Limits to presidential tenure and age were removed from the Ugandan constitution in 2005 and 2017, making way for the possibility of a life president.
Investment in Uganda
The Minister of Science and Technology, Dr Monice Musenero has said that over 70 companies across the world have shown interest in investing in Uganda’s science and innovations sector. Musenero, speaking at the Science Week exhibition on November 10 expressed optimism about the possibility of creating a synergy between investors and local start-ups in the innovations sector. “We have attracted more than 70 investors from all over the world to invest in Uganda’s innovations. Investors will not take your ideas. They are here to help in transforming ideas into final products,” Musenero is quoted by the Observer.
Uganda-Kenya trade route decongestion
The governments of Uganda and Kenya have signed an agreement to decongest one of their major trade routes in the Northern Strip for the transport of goods from neighbouring countries. The two nations have committed to constructing a dual carriage road and two borders in three counties to ease the traffic flow of goods. The Cabinet Secretary of East African Community, Peninah Malonza is quoted by the Monitor saying, “The construction of the dual carriage road aims to cater for challenges of congestion which has, for years, continued to be an impediment to the faster movement of goods and services in the region.” Over 3,000 trucks of goods ply the existing trading route daily.
Shs26bn supplementary budget
The Ugandan government has approved a supplementary budget of Shs26 billion ($6.8 million) to facilitate the funding and organization of the 19th Summit of the Non-Aligned Movement (NAM) in Kampala. The event scheduled to take place in 2024 will host over 120 countries. The secretary to cabinet and organizer of the event, Lucy Nakyobe said, “We are ready for the NAM summit…we have inspected the facilities at Munyonyo and the progress of the construction works is estimated at 85%,” The Monitor reports. The purpose of the event is to ensure continued representation of the interests of developing nations on the international scene.
Oil monopoly
Uganda’s parliament has passed an amendment law which seeks to grant the Ugandan National Oil Company monopoly over the supply of all petroleum products in the country, once assented by the president. Before the amendment, the supply of petroleum products was undertaken by licensed Ugandan oil marketing companies. The government says this initiative is to eradicate, as soon as possible, the operations of middlemen and over-reliance on private oil companies, the Monitor reports.
