The Ministry of Finance, Planning and Economic Development has challenged accountants to take a leading role in building a culture of accountability, saying transparency and sound financial management are essential if Uganda is to achieve its ambitious economic transformation targets.
Permanent Secretary and Secretary to the Treasury, Ramathan Ggoobi, said accountability in both the public and private sectors will be critical to delivering the country’s Tenfold Growth Strategy, which seeks to expand Uganda’s economy to USD 500 billion by 2040.
Ggoobi emphasized that accountants are central to promoting integrity, prudent resource management, and public confidence in institutions, noting that sustainable economic growth depends on responsible stewardship of public and private finances.
In a statement read for him by Joseph Enyimu, Commissioner, Economic Development Policy and Research, Ggoobi said that the strategy was not just about economic expansion but economic transformation too, which required more than targets. “It requires trusted professionals, strong institutions, and disciplined execution,” he said.
He was speaking at the 14th Economic Forum under the theme “Powering Uganda’s US$500 Billion Future,” where he called on accountants to play a greater role in investment mobilisation, public financial management, revenue growth, risk management, and accountability. He asked them to move beyond traditional roles and become strategic advisors who support value addition, innovation, and national development. “Numbers don’t grow an economy on their own; disciplined people do, and that’s the business of accountants.
When accountants do their job well, capital flows, revenue rises, and economies grow. When they don’t, systems crumble.” David Timothy Ediomu, ICPAU President, reaffirmed the Institute’s commitment to shaping Uganda’s economic future through evidence-based policy dialogue and professional leadership.
He applauded the Government’s commitment to domestic revenue mobilisation and the implementation of the ATMS strategy, which names agro-industrialisation, tourism development, minerals, and science & technology as key pillars for accelerating Uganda’s economic growth.
Ediomu called for accountability, innovation, sound governance, strategic investment, and strong partnerships to drive sustainable economic transformation and realise the country’s long-term development ambitions.
Veteran agriculturalist, Victoria Sekitoleko, welcomed the government’s decision to include agriculture and agro-industrialisation among the priority growth areas, but called for more focus on issues that matter in the sector.”Agriculture remains the backbone of Uganda’s economy, driving employment, food security, exports, and household incomes.
Farming is deeply rooted in our society, with many Ugandans born into an agricultural way of life regardless of their background,” she says, adding that if its full potential was harnessed, agriculture would be a powerful force in helping achieve the 500 billion dollar economic ambition.Sekitoleko, the board chairperson of the Uganda Agribusiness Alliance, said that in investing in agriculture, vital aspects were being ignored, giving the example of Uganda’s traditional livestock communities.
“People in parts of Karamoja or Teso or Ankole grow up knowing only looking after cattle. When education is taken to them, they are taught everything else apart from livestock. Can you imagine if these communities were given modern livestock management skills? Would you find a better livestock manager anywhere?” She says agriculture cannot be transformed without investing in knowledge, skills, innovation, systems, and technologies.
Another agriculturalist, Lorna Nahwera, General Manager of Avoli Uganda Ltd., says that even before value addition, the country is yet to take full advantage of the natural factors like weather and fertile soils. “Uganda’s fertile soils, diverse climate, and year-round production capacity give the country a competitive advantage that few nations can match,” says Nahwera.
Nahwera says these natural endowments, coupled with a youthful workforce, position Uganda to become a leading global supplier of high-quality agricultural products. She also emphasized the need to preserve indigenous crop varieties while enhancing productivity through research and innovation, ensuring that Uganda’s unique agricultural heritage remains a key driver of economic growth. URN