The Ministry of Finance, Planning and Economic Development continues to emphasize the importance of security, economic stability, and citizen empowerment as key drivers for household wealth creation.
Speaking during Spotlight Uganda hosted by NBS Television under the theme, “Financial Empowerment: Unlocking Uganda's Household Wealth,” Moses Ogwapus, Commissioner for Financial Services at the Ministry, underscored the government’s comprehensive approach to financial inclusion and economic growth.
“It should be understood that without security in the country, you cannot do business. You cannot invest or attract investment,” Ogwapus said, highlighting the foundational role of national security in fostering a thriving economic environment.
Ogwapus further emphasized the critical importance of macroeconomic stability. “Having price stability and a very predictable economic environment is key for citizens to succeed,” he said.
The Commissioner also discussed the government’s Prosperity for Digital Markets (PDM) program, describing it as an all-government initiative.
“Finance provides the money, Agriculture provides the inputs, Works provides the infrastructure, Security is involved. Basically, everyone is involved in the program of PDM,” he said, highlighting the inter-ministerial collaboration to drive economic empowerment.
Focusing on citizen empowerment, Ogwapus noted that the government is committed to strengthening Savings and Credit Cooperative Organizations (SACCOs) across the country.
“Our effort as government is to train these SACCOs, digitize them, and provide capital through different programs so that people are empowered through access to capital,” he said.
He added that government support is always paired with capacity-building: “As government, we do not give money to people until they have been prepared to receive this money.”
One of the program’s key successes, Ogwapus noted, is raising awareness among Ugandans about the possibilities within a money-driven economy.
“One advantage of PDM is the awakening of the citizens across the country, and people now know the money economy is possible,” he said.
Highlighting Uganda’s untapped potential, Ogwapus said, “Ugandans are rich, but they are not exploiting the available resources.”
The Ministry of Finance, Planning and Economic Development remains committed to fostering an environment where Ugandans can safely invest, access capital, and achieve sustainable financial empowerment.