Former Ntungamo Municipality MP Aspirant Rt.Lt . Moses Magufuri says, Uganda’s economic problems started with Prof. Paul Collier who advised the president to liberalize the economy, that made government to start privatizing government entities where our indigenous banks were also closed which is starting to negatively impact on us rapidly amidst good government programs that would work successfully if the proposal is to be effected.
Example our annual collection in revenue is 20 trillion and our budget is 48 trillion, meaning we are less than 28 trillion to run the country’s budget which in the end calls for external borrowing, this justifies the current debt at 80 trillion.
And remember the IGG report on corruption states that 11 trillion are lost annually. In the recent report she presented, the other year she presented 21 trillion, meaning that on average we are losing 16 trillion and compared to 20 trillion annual revenue collection, we cannot run a country of 4 trillion.
This means there is need to reorganize our economy by establishment of agriculture and cooperative bank to increase agro processing for the small and large scale industries to access finance to increase production which will widen the tax base for government to get enough revenue, URA cannot meet target due to stressed economy and also work around increase on the GDP growth in the agricultural sector to at least 70 % if at all we are focusing at registering a middle income status for an inspired society of the least poor common people of Uganda.
The blue eyed boy Rt. Lt .Magufuri’s view to have the Agricultural and commercial bank continues to reflect at local institutions like Wazalendo, NSSF funds and other Sacco’s account that are lying in private banks like stanbic, Cairo international and Post bank which commercial banks are run by foreign investors(repatriators) ,Voters have been here for NRM why same government allow commercial Bank to exploit wanaichi(local people) this not the way of securing our future- Magufuri states
We should all know that according to world bank research, it was established to state that the problem of Africa to succeed economically, it.has been limited capital for the agricultural sector to be able to stand as an independent sector. According to magufuri I presume that for the PDM to succeed well or its success, we must have our parish chiefs to act as loan officers under the proposed agricultural & cooperative bank that will directly act as a linkage of support to the real beneficiaries for a well guided close monitoring of government funding.
Emyooga, wealth creation would have succeeded very well because the common poor people the government intends to target would be guided In a manner on how to directly deal with funding through this bank.
Ugandans must wake up to the harsh economic reality, accessing long term agricultural funding in this country is close to impossible, the commercial banks here don’t trust Ugandan farmers due to lack of collateral, government continue to dump money in all schemes with minimum impact poverty remain alarming, youth unemployment is a reality, many youth are routed to middle East in syndicated slavery which has become a death trap.
Creating a cooperative bank that can provide affordable financing would create opportunities for many young people. The minimum capital requirement to start a bank is not a problem; there must be political good will… Emyooga 250 billion is over and above the minimum capital required by BoU, PDM 1 Trillion, inaccessible monies from ADB, Agricultural facility funds-Bou plus and all monies government is spending for capacity building all over ministries and agencies can be channeled to finance the venture.
The funds being held by SACCOs, WSACCO alone has over 100B in portfolio, our politicians must rethink their actions and understand the pain point of Ugandans are in “Financial trap” Ugandans have lost properties etc .
Agricultural extension officers have been deprived or defused to execute their roles fully because of no motivational indicators that can help the directorate of extension science to be at the centre of human resource since they are the right personalities on ground in our communities.
Remember these people could also be staff of the bank but not the ministry of local government employees.
We should further know that it’s a big challenge to understand the criteria how most parish chiefs come in place because at times it has been stage-managed exercise of recruitment that has exposed to fund embezzlement that has resulted into failure of government programs right from the time of Entandikwa etc intended to transform people economically.
For the Agricultural and commercial bank to be in place it will rescue the government from the mischief of unpatriotic servants who are for God and my stomach. Like for example in western Uganda, the supply of Tea seedlings has been messed up and 149 billions of money has been lost.
That is why the Transformer cadres had proposed for the full implementation of the Regional tier to zone Agricultural regions in terms of industrialization for their enterprises and do value addition according to zones as extension officers work as board members for good supervision on role of production for what best each zone can do best not political driven program that’s why they call these programs museven’s gift or money.
In Western Uganda we have iron ore, therefore if this bank is in place it will help or partner with investor to explore our iron which is plenty and other regions of the country so that we are able to have to export steel to African countries than importation that’s why magufuri believe in a mixed economy than having a private led economy because some investors don’t pay taxes and where also government t has proved not to have control over them instead they influence policies in Parliament to favor their business leaving common Ugandan suffering with commercial bank’s high interest rates a thing that is dangerous to the economically and tax tax holiday,tax waves and Free land to foreign why not empowering Ugandan Pinetti’s ,capital repatriation is putting Uganda nowhere except neocolonialism
To stretch further therefore, just imagine Uganda has been a cooperative country since 1913 when Ugandans started organizing as cooperatives . These early cooperatives started informally until the first cooperative ordinance was enacted in 1946 by African farmers and Uganda has only one cooperative college Kigumba ,which started in 1964 and still producing diploma holders compared to Moshi cooperative university which started in 1963 now offers masters and PhD while cooperative university in TZ which also commenced in 1964 offers masters level and which has given the two economies fair progress unlike home where we seem to be static and instead of introducing cooperative courses from. The Primary to University government is busy introducing Chinese education language syllabus in Uganda. What a shame! Let’s promote and increase technical colleges across,,,, Jesus
In a nutshell, Magufuri seem to be having a vivid point to make Ugandans to have a must understanding to know that its not only PDM that will help in achieving social economic transformation to this holistic participatory approach. Eg PDM + agro processing facilities ( APF) + rural industrial parks,, ( RIP) + urban markets , + cultural and creative industry=Y (income) all require harmonization in accessing credit to develop this country. Therefore Magufuri proposal still stands, let’s have factual principle policies that make our systems to be effective if anyway the NRM and regime manifesto implementation is to be for common poor people centered that will help Uganda’s stressed economy to register a middle income status in our country.
It should be noted that on Thursday, Magufuli held a successful process consultative meeting on the ope rationalization of a long awaited cooperative Bank at Serena Hotel Kampala.
The meeting looked at the rationale for strategic development, of this must do project that is a game changer to the livelihoods of many Ugandans whose income is Agriculture.
This first draft whose, resulting comments ,will lead to the second draft and final plan on the strategic direction and road map of these cooperative movements on Saturday 31st 2023 and is a clear demonstration of the members commitment , and the hunger for long term agro based financing for Ugandans out there.
Similarly the establishment of the cooperative bank reflects a strategic vertical harmonization with the East Africa community integration agenda, on regions collaborative strategy on food science, agro financing and research.
Africa agenda 2065 has a direction towards sufficient food security for her people across the continent.
‘’The time is now for Ugandan farmers to also join the emerging middle class, through engaging in massive commercial production in Agri processing for export. We are delivering this on time, and in accordance with the NDP III, parish development model, increased members’ savings, and investment in the agricultural sector, are direct ways that contribute towards fast- tracking of Uganda’s Vision 2040’’, said Magufuri during the meeting.
The team was guided by Mr. Francis to revise the amendments in the cooperative act and the financial institutions act, as weapons against offensive firing.
Lt .Magufuri said; ‘’discover yourself, a woman cannot get pregnant by just your wishes, you have to do something for the proposed bank to be established by the government -according to him.Therefore a paradigm shift must take place now by me and you ,in the Agricultural sector to create a Bank for all Ugandans’’, he said.
WHAT YOU NEED TO KNOW ABOUT LTD. LT. MOSES MUSISHA MAGUFURI
Born on February 2, 1986, just a few days after the NRM government assumed power. He was raised by Rtd Major Babumba Bwohe Henry, a pilot instructor in the Nakasongola Airforce.
The retired Lieutenant in the UPDF army sat his PLE from Kako P/S and UCE from Rwentobo H/S before he moved to Highway College Makerere.
After his high school studies, he moved to Nkumba University where he obtained a bachelor’s degree in Procurement and logistics management. He later obtained a Master’s degree in procurement and logistics management from the same University. Magufuri also obtained another Master’s degree of science in monitoring and evaluation from Nkozi University.
He worked with Roofings Ltd as Administration Assistant and at Bishop Stuart University Mbarara as a lecturer. He officially joined the army in 2011 from Kabamba Military Academy in Uganda, he was sent to Somalia in 2013 until 2015 on special duties during the struggle by UPDF to restore peace in Somalia where he significantly fought corruption in the army something that prompted Gen. Saleh and Operation wealth Creation to deploy him as Procurement and seed monitoring officer at NAADS a position he still holds till date so he fights the corruption that was in that body.
Well known for fighting corruption in the army while in Somalia and now in NAADS, Mugisha decided to give politics a shot and in 2018, his retirement from the army was approved. He is the Former MP aspirant Ntungamo municipality
Due to his humble family background, Mugisha is said to be a no-nonsense officer who walks the Talk and is principled, honest and respectful.
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Publish date : 2022-12-30 15:10:44