NRM has laid firm foundation for wealth creation

_____________

OPINION

By Rose Namayanja Nsereko

As the National Resistance Movement (NRM) continues its mission to boost wealth creation for every family in Uganda, the commitment to socio-economic transformation has never been clearer than today.

Recognising the necessity of balancing development with wealth-generating initiatives, the NRM Government has taken deliberate steps to ensure that, regardless of socio-economic status, every Ugandan has the opportunity to thrive financially.

This balanced approach to development has led to significant progress and numerous initiatives aimed at empowering households nationwide.

Since its inception, NRM has prioritised not only infrastructure but tangible wealth creation measures.

In previous years, despite the country’s constrained budgets, the government initiated several programmes that laid the groundwork for future economic development.

Initiatives like the Plan for Modernisation of Agriculture (PMA), Entandikwa, and Operation Wealth Creation (OWC) were implemented to help people create wealth, despite the limited resources available.

These efforts set the stage for what was to come, as government has since invested sh11 trillion in key wealth creation initiatives over the last 10 years alone.

Among these initiatives, the Parish Development Model (PDM) stands out as a groundbreaking effort focused on mass wealth creation.

It has a projected total investment of sh4.4 trillion set to be allocated by the end of FY 2025/26. This figure eclipses past efforts, including the entire budget of sh4.1 trillion in FY 2006/07.

With the PDM’s ambitious scope, every one of Uganda’s 10,589 parishes is set to receive support, fundamentally transforming the economic landscape and enabling households to rise above subsistence living.

The Parish Development Model

The PDM is a revolutionary approach designed to stimulate economic growth and inspire entrepreneurship within local communities.

The Government’s provision of sh100m annually to each parish establishes the Parish Revolving Fund (PRF), directly targeting households that are outside the money economy. By encouraging members to participate in selecting beneficiaries, PDM fosters a sense of ownership and community involvement.

The PRF operates on a sustainable model; once households benefit and start repaying their loans, the fund will grow.

This approach permits repetitive borrowing, enabling continuous support for financial needs over time. The ongoing contributions by the government and repayments from beneficiaries will ultimately create the foundation for a co operative bank, enhancing financial access for all, thereby galvanising local economies and unlocking potential throughout Uganda.

EMYOOGA and other SACCOS

In addition to PDM, NRM has launched the Emyooga initiative, focusing on various specialised sectors outside agriculture.

With sh660b already disbursed, Emyooga has targeted 18 groups, including carpenters, salon owners, taxi operators, and women entrepreneurs, among others. This initiative accommodates diverse sectors, stimulating local economic growth by kick starting new businesses and enabling value addition in various enterprises.

The Government has allocated an additional sh100b for Emyooga Savings and Credit Cooperative Organisations (SACCOS) in the FY 2025/26 and an extra sh48.5b for other SACCOS.

Successfully benefiting approximately 2.4 million Ugandans, Emyooga has fostered a new local economy, ultimately creating jobs and transforming livelihoods.

This is a testament to NRM’s commitment to ensuring that everyone, regardless of their background, is afforded the chance to thrive.

Agriculture credit facility

Recognising the critical role agriculture plays in Uganda’s economy, NRM has also established the Agriculture Credit Facility (ACF), which has injected sh413.4b since its inception in 2010.

This initiative ensures that farmers have access to affordable financing, facilitating commercial agriculture and adding value to agricultural outputs.

With a planned additional sh50b by June 2026, the ACF will continue to support both smallholder farmers and larger agricultural enterprises. The programme has already benefitted over 14,336 individuals, contributing enormously to job creation and income generation within this vital sector of the economy.

Interest-free loans for commercial farmers

In a bold move to further enhance agricultural production, NRM has introduced an interest-free credit scheme for large-scale commercial farmers with a capital allocation of sh175b.

This facility connects farmers with the essential funds needed for production and growth, without the burden of interest payments, thereby promoting sustainability in Uganda’s agricultural sector.

Export guarantee scheme

To support exporters eager to broaden their market reach, NRM has established an export guarantee scheme with an initial capitalisation of sh800b. This initiative empowers manufacturers by granting them access to funding crucial for expanding their operations and penetrating external markets, offering loans at a competitive 12% interest rate with an extended repayment period of up to 14 years.

These targeted initiatives paint a picture of a government dedicated to uplifting the economic standing of all Ugandans, encouraging entrepreneurship and providing the necessary support for families to create wealth together.

These efforts underline the NRM Government’s ongoing commitment to transforming lives and providing opportunities for prosperity. Every citizen can take advantage of these programmes to secure their future, contributing positively to the nation’s economy.

As NRM continues to roll out these transformative initiatives, the path forward for all Ugandans remains clear: Invest wisely in their communities and support continued growth under President Yoweri Museveni’s leadership.

With these robust measures in place, NRM has laid the firm groundwork for a prosperous, wealth-creating future for all Ugandans. The reason all Ugandans should cast their vote for President Museveni, the embodiment of these ambitious goals, is to secure a brighter tomorrow for every family in Uganda.

The writer is the NRM Deputy Secretary General