Joyce Namugambe
The President of the Republic of Uganda His Excellency Yoweri Kaguta Museveni has promised to support the Ministry of Science, Technology and Innovation to carry on science and innovative work for the country’s economic development.
This follows the report from the Minister of Science, Technology and Innovation Hon Monica Musenero that indicated that the Ministry lacks funding to take on its work based on innovations noting that it needs over 500 billion shillings every year to support its work which it doesn’t have.
Minister Musenero presented that the money she is given in the ministry only carters for the employees salaries and it can not even carter for their fuel. She stressed that the cabinet decided that Science should be allocated 500 billion shillings every year or 2% of GDP so that Science, Technology and Innovation should set off in the country for the ministry to take on its work for the country’s economic development but it has not been fulfilled.
Minister Musenero also expressed concern over the heavy taxes that are imposed on upcoming companies which lead to innovators to acquiring loans that at the end they fail to pay back and get out of business which discourage many people to join innovations for the country’s development.
In response, when He was Gracing the 3rd National Science week 2023 in Kololo the President asked the ministry to present its proposal so that the government can release funds to support it. He noted that the government has released more than 1 trillion shillings in the PDM program year after year, and some years ago, when the country was struggling with road infrastructure, the government managed to put about 4 trillion shillings, therefore the 500 billion shillings every year is not too much money to be put in the ministry of Science Technology and Innovation, which can be provided through annual allocation. And urged the ministry to get the private sector to bring in additional venture capital.
However the President expressed concern over taxation upon young and upcoming companies which he says discourages innovations in the country thereby hindering the country’s economic development. He added that there is no way that infant enterprises should be taxed yet the adult companies were given 10 years tax holidays which should as well be done to the young companies to give them time to fully establish themselves. He said whoever involves in taxing young companies should be taken to Luzira prison.
The Minister of Finance Matia Kashaija has commended the science innovators and shown dissatisfaction over increasing cutting of money by parliament which must have been allocated for the Science and technology in the country but at the end of it all not advanced to science and technology.
One of the investors from Nigeria Kunmi Demuren noted that they discovered that Uganda has great business ideas which they take to outside countries for investment and this attracted them to choose to join Uganda and support entrepreneurs for economic development to Uganda so that they invest in their country, as it will help Uganda be put on the map.
One of the innovators for Bella wines company that manufactures juice, wines and other soft drinks noted that it is because of science and technology that she has managed to produce these drinks as science makes the production easier.
This function was attended by entrepreneurs from around the world such as Sierra Leon, Gabon, South Africa, Nigeria, Kenya, Canada, USA, Serbia, UK, South Korea among others.
