Africa-Press – Uganda. A government report has indicated that private sector performance was relatively good, scoring an output of 70.62 percent in 2022.
The report codenamed Private Sector Development is contained in Semi-Annual Budget Monitoring Report by the Ministry of Finance Budget Monitoring and Accountability Unit.
The report indicates that the two parameters including Enabling Environment Sub-programme and Institutional and Organisational Capacity posted relatively good performance of 77.2 and 64.04 percent, respectively.
Under the enabling Environment Sub-programme, the report reveals that the US African Development Foundation extended grants to five farmer organizations, which during the period under, supported cooperatives to create and sustain 1,021 jobs.
While agencies under the Institutional and Organisational Capacity sub-programme such as Uganda National Bureau of Standards, supported private sector growth amid reduced funding.
For instance, during the period, UNBS conducted 3,462 market inspections, which resulted into 583 seizures of counterfeits and substandard goods while 2,717 equipment used in trade where calibrated . However, the performance was below the half year target due to reduction in funding .
The African Growth and Opportunity Act also performed below target. .
The programme, which seeks to increase competitiveness of the private sector to drive inclusive growth, was, for the 2022/23 financial year, allocated Shs1.592 trillion, of which Shs867.74b (54.48 percent) was released, and Shs550.33b (63.42 percent).
It seeks to reduce informal sector trade, increase non-commercial lending to the private sector in key growth sectors, proportion of public contracts and sub-contracts awarded to local firms and value of exports.
The interventions are coordinated by the Ministry of Finance, with complementary roles from Ministry of Trade, Public Procurement and Disposal of Assets Authority, UNBS, Uganda Investment Authority, Uganda Free Zones Authority, and Uganda Export Promotion Board, among others.
During the period, the interventions saw 18 new companies obtain land in the Kampala Industrial Park, Kasese and Jinja industrial business parks.
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