Latest news with #NationalDevelopmentPlanIII
Broadcast Pro
09-05-2025
- Business
- Broadcast Pro
Presight signd MoU with Government of Uganda
The MoU outlines the framework for close collaboration between Presight and NITA-U on high-priority digital transformation initiatives aligned with Ugandas National Development Plan III. Presight, a global provider of big data analytics and artificial intelligence solutions, has formalised a strategic partnership with the Government of Uganda through the National Information Technology Authority (NITA-U), signing a Memorandum of Understanding (MoU) aimed at advancing the country's digital transformation efforts. The agreement was signed during an official ceremony at the State House Uganda in Kampala, held as part of an official State visit by His Highness Sheikh Abdullah bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign Affairs. The event was also attended by several dignitaries, including H.E. Sheikh Shakhboot Bin Nahyan Al Nahyan, UAE Minister of State, H.E. Abdullah Hassan Obaid AlShamsi, UAE Ambassador to Uganda, and Dr. Hatwib Mugasa, Executive Director of NITA-U, who signed the MoU on behalf of Uganda. Presight was represented by Sheik Muhammad Shameen Hosenbocus, Vice President for Africa and LATAM, and Mohammed AlMheiri, Chief Business Officer for Public Safety & Security. The MoU marks a significant step in Presights expansion across Africa and demonstrates its commitment to supporting sustainable and inclusive development through advanced AI technologies. The collaboration will focus on high-impact digital transformation initiatives aligned with Ugandas National Development Plan III. Key priorities include bolstering national cybersecurity infrastructure, upgrading government cloud and electronic services, streamlining ICT procurement processes and performing feasibility and cost analysis for upcoming tech projects. In addition, the agreement aims to generate local job opportunities through the implementation of these initiatives. Under the terms of the MoU, NITA-U will coordinate the identification of priority projects and establish a Technical Steering Committee with members from NITA-U, the Ministry of Finance, Planning and Economic Development (MoFPED), and other relevant government bodies. Presight will contribute technical expertise, conduct assessments, and collaborate with stakeholders to ensure successful project execution. Thomas Pramotedham, CEO of Presight, commented: 'Were proud to join hands with the Government of Uganda in this pivotal partnership. At Presight, we strongly believe in the power of Applied AI to solve national challenges and uplift communities. This MoU is proof of our commitment to empowering African nations with cutting-edge digital tools that accelerate economic development, foster digital sovereignty, and create tangible value for citizens.' Dr. Hatwib Mugasa, Executive Director of NITA-U, added: 'At NITA-U, were driven by a vision of a digitally empowered government and society. This collaboration with Presight will enhance our capacity to implement smart, secure, and citizen-centric solutions. We welcome Presights expertise and look forward to leveraging this partnership to unlock new levels of efficiency in public service delivery.'
Zawya
11-02-2025
- Business
- Zawya
‘Stop funding to Inspire Africa Coffee'
The Leader of the Opposition, Hon. Joel Ssenyonyi has asked government to stop any further allocation of funds to Inspire Africa Coffee, a private entity financed by government to establish a coffee factory as a tertiary hub for last mile coffee value addition in Ntungamo District. Ssenyonyi said the financing should be halted until government comes out clearly on the terms of the partnership, which he said could not be established when he visited the factory on 24 December 2025 with other MPs on the Shadow Cabinet. 'We found that there is no Memorandum of Understanding between Government of Uganda and this entity. So the manner in which money was extended to the entity is not clear. It is wrong for tax payers' money to be spent without any clearly defined binding relationship and no documentation whatsoever,' said Ssenyonyi. He explained that although the proprietor, Nelson Tugume attempted to explain a co-investment arrangement between the parties, there was no clarity on whether this would result into a joint shareholding, a grant arrangement or a bail out. The LoP said this as he presented a report of his oversight visit to the factory at a sitting of the House chaired by the Speaker Anita Among on Tuesday, 11 February 2025. Ssenyonyi added that there are doubts on the value for money invested in the factory, cognizant that Tugume could not establish the amount government has so far injected. 'Government should explain how much money has so far been injected into this project. The cost benefit analysis of investing in this entity should be examined,' he said. He expressed concern that as long as usage of tax payers' money is shrouded in mystery, there will always be suspicion about such bailouts given that they are accessed by a few people. Ssenyonyi called for construction of a similar factory in Bugisu and central region as part of government commitment in the National Development Plan III saying that it will be difficult for farmers to transport coffee from far-flung districts across the country to Ntungamo for processing. The Opposition leader asked government to come out with a clear procedure on how private entities can get government support. 'Uganda has a lot of young and innovative entrepreneurs who only lack funding. If the government comes out clearly on the formalities, then more Ugandans could benefit as opposed to just a few,' he added. During the 2023-2024 financial year, government undertook to establish 'a Tertiary Hub for last mile Coffee Value Addition' in Ntungamo District, through the Science, Technology and Innovation Secretariat in the Office of the President, under a private partnership arrangement with the Coffee Investment Consortium Uganda (CICU) and Inspire Africa Coffee. According to Tugume the factory is expected to produce various coffee products including; Instant Coffee, Drip Coffee, Malt Coffee, Coffee energy drinks as well as beauty Cosmetics. Uganda is currently the leading coffee exporter in Africa, and the second largest coffee producer in Africa having exported 6.13 million bags in Financial Year 2023/2024 valued at US$1.14 Billion. Distributed by APO Group on behalf of Parliament of the Republic of Uganda.
Zawya
11-02-2025
- Business
- Zawya
Uganda: Member of Parliament (MP) question development bank's loan coverage
Members of Parliament on the Committee of National Economy concerned about distribution of the Uganda Development Bank (UDB) financing as the government seeks a US$275 million loan to recapitalise the bank. The Minister of State for Finance, Planning and Economic Development (General Duties), Hon. Henry Musasizi who appeared before the committee alongside officials from UDB on Monday, 10 February 2025 had informed the meeting that the bank had supported beneficiaries in 95 districts. However, legislators pressed for specifics on the distribution of funds and their alignment with national priorities. Hon. Jonathan Ebwalu (NRM, Soroti West Division) questioned whether the reported 95 districts truly represented the entire country. 'Which are these 95 districts? Does it represent the whole country? How many people have benefitted and from which districts?' Ebwalu said. Ebwalu stated that MPs were sceptical about the authenticity of the list of benefitting districts. 'We have seen ghost soldiers and teachers being paid in Uganda. We have seen ghost projects being funded in Uganda. By writing that these are the districts on paper, and we don't know these projects, how are we going to be convinced that these districts benefitted?' he asked. Committee Chairperson, Hon. John Bosco Ikojo highlighted discrepancies in the 2023 report from the Ministry of Finance noting that only 76 districts were recorded as beneficiaries with regions such as Karamoja being underrepresented. Ikojo assured MPs that further engagements with UDB would be held to assess the bank's impact. 'I think we are still interacting. This is not a one-off. We are going to assess the physical performance, and we shall request UDB to take us to some of these benefiting enterprises,' he said. Bukanga North County MP, Hon. Nathan Byanyima (expressed frustration over UDB's failure to follow through on previous commitments on funded projects. 'You took us through all the projects you are doing and made a commitment. The good team promised us to out to some of these projects. We have never seen any of your projects,' Byanyima said. He also shared a personal experience of a farmer in his constituency who struggled to access UDB funding despite fulfilling all requirements. 'I had a farmer in my constituency who wanted money. They took the title, registered everything. It took him a year. But when I walked into their offices, and threatened to come on the floor, the money was released. I am happy for that. At least I got a positive,' he said. Hon. James Baba (NRM, Koboko County) stressed the need for transparency regarding individual beneficiaries and alignment with national economic priorities. 'There is a serious concern about the beneficiaries of this financing. It is important that we know the individuals who have benefited in each one of those districts,' Baba said. He further questioned how UDB's disbursements reflected government priorities under the National Development Plan III and IV. 'This government has prioritised some key projects both in NDP III and NDP IV on where we must invest money to turn the economy around and to improve household incomes. Taking the priorities this government has set up in coffee, tea, fishing and cocoa, where is that reflected in the disbursement of the loans?' he asked. UDB Managing Director, Patricia Ojangole said that the bank does not receive government funding for its operations and maintains a cost-to-income ratio below 30 per cent ensuring competitive interest rates. She highlighted efforts to expand access by establishing regional offices in Gulu, Mbale, Hoima, Arua, and Mbarara. Ojangole noted that UDB supports various borrowers, including farmer groups, SMEs, and large enterprises, with special programmes easing access for youth and women. She reaffirmed the bank's commitment to keeping interest rates below 12 percent while ensuring financial sustainability. "Our cost-to-income ratio is currently less than 30 percent, the lowest in the market allowing us to offer competitive interest rates while ensuring affordability for borrowers," Ojangole added. Minister Musasizi committed to providing a detailed breakdown of the benefiting districts and beneficiaries. 'We can provide the names of the districts as an annex. And also, this report which we have presented, I'm sure if we get time to read it, and we can also make extracts,' he said. The committee resolved to continue engaging with UDB and conduct field visits to verify the existence and impact of funded enterprises across different regions. Distributed by APO Group on behalf of Parliament of the Republic of Uganda.
