Innovation sector contributes Shs1b to GDP- ICT Ministry

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By Eric Wakabi

The Ministry of Information, Communication, and Technology has revealed that the innovation sector’s contribution to GDP has been increasing over time since several people are willing to invest in the innovation Eco-system.

The Permanent secretary in the Ministry of ICT Dr. Amina Zawedde disclosed this at the ongoing National Innovation Week at the National ICT Innovation Hub in Kampala, where stakeholders tasked the government to offer more tax waivers and holidays to investments in the sector.

According to the Ministry of Information, Communication and Technology the innovation sector alone contribution to GDP has been growing in the past years, amounting to over one billion shillings to Gross Domestic Profit, given that the sector has attracted close to 30m Ugandans.

But speaking during the National Innovation Week, the Permanent Secretary at the Ministry of ICT Dr. Zainab Zawedde, stressed that the digital transformation roadmap addresses concerns of tax waivers and holidays for innovators and investments in the innovation Eco-system, that the different stakeholders are pushing for.

Dr. Zawedde cautioned innovators on affordability and quality to meet competitive standards for both local and international markets.

Companies investing in the innovation tipped innovators on the existing markets outside Kampala.

The Chairperson for the 2023 UG National Innovation Week, Micheal Niyitejeka says the main goal of this innovation week is linking innovators to potential investors in the sector.

 

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