By Mariam Nalunkuuma

UGANDA’S economic growth cannot be driven by donors, the microfinance state minister has said.

In a seven-page presentation to the NRM Parliamentary Caucus on Monday at the Parliament conference hall, Salim Saleh said, “Donors have invested heavily in Uganda’s microfinance sector in the recent years. That is good news. On the flip-side, we find that most of this money has not translated into actual lending for those who need credit.

“The donors have invested at the policy level as well as seminars and workshops. So we now find ourselves with lots of glossy, well-written policies and reports. But the situation on the ground remains the same. Most of your constituents still have no access to credit,” he said.

He added, “The importance of this sector to economic growth is that it cannot be left to donors to drive growth. Widen access to financial services among Uganda’s poor. We have had enough debate on the way forward. It is time to act.”

“Money is available but we need to have a consensus on how best we can utilise it,” he said.