The Agriculture Insurance Scheme has grown to Shs4.5b in terms of premiums, with actual utilisation from the government programmes standing at Shs1.5b, according to the Agro Consortium, which brings together 10 local insurers. Speaking at the National Agriculture and Food Security Forum in Kampala yesterday, Ms Joan Nyangoma, of the Agro Consortium, said over the past two years, the scheme has been able to reach 50,000 farmers across the country. Read more. Source | Daily Monitor
The Government of Uganda has catalyzed its efforts to promote the value addition of tea bu setting up two tea factories at a total worth of $2.4 million. Tea is one of Uganda’s most precious commodities that has helped the government earn revenue from its exports. As a means of steering the agricultural sector, the factories are meant to increase foreign exchange earnings from the green leaf. Read more. Source | The Exchange
East African countries could lead the world in growth in consumption of tea during the next decade, even as they occupy top positions in exports of the commodity. Estimates by the Food and Agricultural Organisation show that Rwanda will lead in growth at nine per cent followed by Uganda at five per cent and Kenya at 4.4 per cent. Read more. Source | East African
Uganda is set to roll out a new Coffee Bill that will create an ecosystem for a better and sustainable coffee industry in the country. The proposed bill is forecast to be the first stepping stone to transform the industry and ensure the nation remains competitive in the international market as well. Coffee is the country’s main export as per the agriculture sector, and has performed graciously over the years.
The future of the commodity has raised eyebrows with the performance not convincing to the market key players as farmers feel more can and should be done to protect their rights and help them boost their yields. The quality of the produce has been the main concern over the commodity, with the international market demanding speciality in the sector. Read more. Source | The Exchange
Feed the Future, part of USAID has announced that 228 applications were received, mostly from Africa, for the global Fall Armyworm Tech Prize. The Prize aims to find digital solutions to identify, track and protect crops from the pest, which has devastated agricultural produce across the continent.
Over 80% of the entries came from Africa with the five countries with the highest number of entries being Uganda 52, Nigeria 25, USA 23, Ghana 22 and Kenya 21. Read more. Source | The Exchange
US ambassador to Uganda Deborah R. Malac is leading a reverse trade mission to the Specialty Coffee Expo in Seattle that starts on Friday.This is part of the US government’s ongoing commitment to building trade and investment opportunities in Uganda.
Ms Malac, jointly with the Uganda Coffee Development Authority (UCDA) and the USAID East Africa Trade & Investment Hub, will be joined by Uganda’s Ambassador to the US, Mr Mull Katende and more than 20 Ugandan coffee entrepreneurs in the campaign. Read more. Source | Daily Monitor
Clearing exports to various destinations will now take less time as Uganda begins using the East Africa Single Customs Territory.The system was officially rolled out earlier last week for the export of commodities via Mombasa Port.
This is one of the stages towards the full attainment of the Customs Union that will eliminate tariffs and other restrictions as well as minimize internal border controls on goods moving among partner states. Read more. Source | The Citizen
Financial analysts have implored government to uphold terms stipulated in contracts signed during public private partnerships.
Speaking in Kampala at the weekend, the assistant director of investment management at Bank of Uganda, Mr Alan Lwetaba, said the public must understand the approaches to alternative funding of public projects before committing to them.
Much as PPPs are an alternative to debt, Mr Lwetaba advises that prior to joining an agreement; government should be coherent of its responsibilities and ensure to uphold them to avoid consequences. Read more. Source | Daily Monitor
East Africa recorded the continent’s best economic performance in 2017, with a GDP growth of 5.9 per cent — above the continental average of 3.6 per cent.
This growth was achieved in a year that saw the region’s economic fortunes dip, as several companies keen to lower costs and post profits turned to staff cuts. Read more. Source | East African
If the East African Community member states don’t come up with concerted efforts to industrialise as a bloc, the region will become a dumping place for cheap imports. This means that no new creation of jobs will be realised for the young population the region has and this will hinder the development goals and targets too. Read more. Source | Daily Monitor