President Yoweri Museveni has promised that in the next Cabinet reshuffle he will appoint a person from the private sector who is well versed with issues that can promote businesses. 

Museveni said this in response to a request by Barbara Mulwana, the chairperson of the Presidential CEO Forum, to have a person from the business community sit in Cabinet meetings to advise the President and his Cabinet ministers on the needs of the private sector. 

The business community has often expressed shock at some new policies introduced by government officials that work against businesses, trade and investment and the economy. 

The President said this during a retreat for CEOs, top captains of businesses, the private sector institutions in Uganda and government officials. 

The retreat took place at the National Leadership Institute, Kyankwanzi. The retreat was organised by the Presidential CEO Forum. 

Mulwana said that technocrats often come with tax policies that work against the private sector and businesses. 

She added that they get surprised with the new measures when they are imposed without consulting the business community. 

“You nominate someone from the business community, and I will make that person a presidential advisor on economic issues. In the next Cabinet reshuffle, that person will become a minister,” Museveni told the large gathering of CEOs and business captains. 

Later on, Museveni tweeted, “I addressed CEOs of various businesses in Uganda during their retreat in Kyankwanzi. I affirmed the government's commitment to lowering electricity and transport costs which will, in turn, reduce the cost of production and spur the growth of businesses.”

Museveni said he expected power tariffs to fall to at least 5 US cents for industries.

Stephen Asiimwe, the newly appointed chief executive officer for the Private Sector Foundation Uganda (PSFU), said that there has been more politics than business in the economy. 

Asiimwe expressed the need for an environment for businesses and the private sector that goes beyond political, technocratic and symbolic promises. 

Ramathan Ggoobi, the permanent secretary at the finance ministry said they will no longer bring in new tax measures without consulting the private sector. 

He said studies and adequate consultations were necessary before any new tax policies were slapped on the private sector. 

Ggoobi said that the night economy that sees the high velocity of money changing hands could see the economy recover. 

Ggoobi underlined that the night economy was dependent on the large-scale vaccination of the citizens.