Economic Development Project Uganda
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Balancing biodiversity conservation with economic development - oil exploration in Uganda

Ronald Kaggwa, National Environment Management Authority, Uganda. Member of the NBSAPs 2.0 mainstreaming biodiversity project. Describing the oppotunities an...
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According to a Ugandan environmental official, approximately 3 million barrels of oil and gas have been discovered in the country. This, of course, has brought great optimism to the people, as it will clearly be an excellent promoter of growth. If the resources are used in the best ways possible, the economy will be transformed from a "peasant" economy, to one that is "middle income." At the same time, a growing number are concerned that the extraction of such resources will have strong negative effects on the nation's environment and biodiversity. As the nation grows, expanding road and labor networks, refineries, as well as the establishment of transport pipelines may threaten such aspects of the nation. Officials are currently developing policy to prevent many of these negatives from happening, which will collectively represent the nation's oil policy. Since the majority of the oil deposits are in one of Africa's most important "hot spots" for biodiversity, it is critical that such measures be developed. Representatives from other oil producing nations, including China, have been assisting Uganda as well. 

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Oil may bring disaster to Uganda, experts warn

Uganda's economic development may slow down and its population lives in subdued poverty than its now, if the oil resource is not properly managed by allocati...
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Uganda has rather recently discovered rich oil deposits, which could prove extremely profitable. However, in observing other African countries such as Indonesia and Trinidad and Tobago, the extraction of oil can come with many negative effects. A powerful example comes from Nigeria, whose population actually became poorer after drilling/exporting oil. Unfortunately, the video states that Uganda likely has little hope in terms of becoming competitive with other oil producing nations, due to rather poor management of public resources and questionable leadership (it has been known for occasionally being corrupt). Moreover, if Ugandans are inattentive to sustainable/"good" business practices, only a select few will experience monetary gain, while the vast majority will only become poorer.

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Uganda’s Economy May Grow 6.8% in 2014-15 on Energy Expansion

Uganda’s economy is forecast to expand 6.8 percent in the next fiscal year as the government boosts investment in road, energy and farming projects to spur growth, according to the Finance Ministry.
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As the summary above mentions, Uganda's economy may grow by 6.8% in the coming year. This prediction may be slightly high, however, since drought in parts of the country have suppressed food/livestock production, as well as the recent conflict with South Sudan pulled the nation down slightly. The more accurate percentage of growth seems to be closer to 6%. What will mainly help the nation in the future are its investments in renewable energy, which include large hydroelectric power plants. Though initial costs for such facilities will be high, diminishing energy prices in the future will prove beneficial.

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Scot highlights how Uganda's women beat the odds to win in business - Herald Scotland

Scot highlights how Uganda's women beat the odds to win in business - Herald Scotland | Economic Development Project Uganda | Scoop.it
Herald Scotland
Scot highlights how Uganda's women beat the odds to win in business
Herald Scotland
"Women are the unsung heroes of Uganda's economy. The women in Uganda put businesswomen like me in the UK to shame.
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According to the article, more than 40% of the nation's businesses are owned by women, although just 7% of all profits are allocated to them. Primarily to blame are the nation's high interest rates, which prohibit many women from being able to take out loans and improve them. Bank loan rates are mainly based on land ownership, but since men own more than 90% of all available land, many women experience great difficulty. Despite such barriers, a large number of females are finding ways to overcome them, and with new legislation on its way to help, it seems the business sector will improve for such individuals. 

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UGANDA'S LOOMING ECONOMY QUESTIONS

With a staggering inflation rate,high interest rates and high food commodities.What answers are available for a typical Ugandan national?
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Uganda's high interest rates and a very-high inflation rate of 28%; combined with perpetually increasing commodity prices, have caused a number of strikes across the country. Despite, the nation's upper class has continued to maintain a steady rate of consumption. The interest rates, and perhaps more importantly a very unequal spread of wealth among citizens, are considered to be at the center of the nation's current dilemma.

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Uganda’s higher education chocking| glObserver Global Economics

Uganda’s higher education chocking| glObserver Global Economics | Economic Development Project Uganda | Scoop.it
HIGHER education in Uganda, one would confidently say, is hanging on a thread. Simply put, it is just a matter of time formerly if goes down crashing, if nothing is quickly done

Via Michael Malka
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According to the article, higher education (post-secondary) is becoming "endangered" in Uganda. Decreased funding to the nations 34 total universities(!) has led to shortened school days, food rationing in cafeterias, and congested lecture halls, to name a few issues. Of the nation's 34 universities,  only five of which are owned by the government, resulting in poor "quality control." Despite the fact that there is actually a number of such schools expanding, attendance across Uganda has been declining. Overall, only about 4 out of 1000 individuals enroll in post secondary education, whether public or private. What's perhaps most unfortunate is the fact that money for assisting disadvantaged students is not well apportioned: in 2012, upwards of 4,000 students who were given national sponsorship did not demonstrate the greatest need. 

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Let's support oil exploration... - New Vision

Let's support oil exploration... - New Vision | Economic Development Project Uganda | Scoop.it
Let's support oil exploration...
New Vision
This is a milestone for Uganda's petroleum sector as it defines the roadmap for utilising the discovered petroleum resources to further economic growth and development.
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For years the Ugandan government has been importing crude oil from nearby nations, which has been especially costly, and growth-inhibiting. With new-found oil deposits, however, the nation will gain the ability to more quickly develop its economy. In addition, in using its own oil, the nation will become far less susceptible to global/local supply shocks, which occur rather frequently. This plan would also benefit Uganda's balance of trade, in that far less money will be "taking flight" to foreign nations through importation. The nation's government will benefit slightly in one other way: since its citizens will pay the government for the distribution of the product, the government will receive increased revenues, those which had not previously been possible. 

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Farming Is Africa's Best Bet for Jobs - AllAfrica.com

Farming Is Africa's Best Bet for Jobs - AllAfrica.com | Economic Development Project Uganda | Scoop.it
Farming Is Africa's Best Bet for Jobs
AllAfrica.com
According to President Museveni, malnutrition impairs educational achievements, undermines economic productivity and places a huge burden on Uganda's fragile public health system.
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Though it may seem that Uganda, as well as many other African countries would benefit from focusing less on agriculture and more on other practices, the country still needs to focus primarily on such industry. It is rather unfortunate, however, since it employs 80% of all who work, yet only accounts for 15% of total GDP. Agricultural production must not be decreased though, because one in five Ugandans is still undernourished. It seems necessary that the nation develop more productive agricultural methods, as the number of individuals needing to be fed will only rise in the future. 

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Energy Revenues to Help Africa Trim 'Infrastructure Gap' - International Monetary Fund

Energy Revenues to Help Africa Trim 'Infrastructure Gap' - International Monetary Fund | Economic Development Project Uganda | Scoop.it
Energy Revenues to Help Africa Trim 'Infrastructure Gap' International Monetary Fund Three finance ministers and a central bank governor told a Washington news briefing that Africa's “infrastructure gap” is a significant development obstacle that...
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According to the IMF (International Monetary Fund), many African nations including Uganda will begin to use revenues from energy-resource related profits to improve their infrastructure. For Uganda, exporting petroleum is the top money maker, and in a recent conference in Washington, leaders have promised to put profits into improving roads, railways, ports, and power supply. In addition, such expansion/improvements would boost employment, and steady growth. 

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The Price of war: Uganda loses trillions in S. Sudan conflict

Uganda's economy has suffered business losses worth over UGX2Trillion since the armed conflict in South Sudan erupted three weeks ago, government has announc...
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A recent conflict with South Sudan has cost the government two trillion Ugandan Shillings ($796 Million), severely gouging the economy. The business sector has been hardest hit, with high interest rates making loans highly expensive. At the same time, however, investors from the DR Congo and South Sudan are beginning to open new businesses, in hopes of using Uganda as a stepping stone into larger, more unpredictable markets. An estimated one million Ugandans have been conducting businesses though, and if South Sudan were to fall into total anarchy (which is possible), a great deal of business would be lost. 

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