What you need to know:
- The new budget surpasses that of the 2022/23 financial year, which stood at Shs157.8b.
Buganda Kingdom has revealed that it plans to spend Shs209b on running its activities and operations in Financial Year 2023/2024.
Unveiling the budget before the kingdom parliament (Lukiiko) yesterday, the institution’s finance minister, Mr Robert Waggwa Nsibirwa, said revenue collection is expected to increase by 22.5 percent during the financial year.
“The most viable sources of income to the kingdom in the new financial year include: land related services, partners, education, cooperatives, tourism, activities of the royal treasury and media houses,” he said.
The new budget surpasses that of the 2022/23 financial year, which stood at Shs157.8b.
According to the 2023/24 budget, which was approved by the Lukiiko, health, cooperatives, education, agriculture, economic development, the royal treasury and investment will be the most funded sectors.
“Investment and economic development is taking the biggest share of Shs61b, followed by education with Shs19b, management of activities of royal treasury Shs17b communication and information Shs14b and Land management Shs10b,” Mr Nsibirwa observed.
He noted that Buganda’s economy will continue to be driven by agriculture, education and service in the next financial year since subjects are productive and engage in gainful services.
“We are in the centre of the Great Lakes economy and that is an opportunity the kingdom will support its people to continue taking advantage of. Coffee and food production [for sale] will continue to drive Buganda’s economic agenda for a while if supported,” the finance minister said.
He also said the kingdom is putting more emphasis on coffee growing and production, but warned that the abrupt and inconsistent interventions in the industry activities may disrupt its growth.
“Coffee is one of the sectors that is witnessing growth and any unnecessary interference in the sector may see all the gains lost. Let’s remember that coffee is a democratic fighter of poverty,” Mr Nsibirwa said.
On education, he announced the kingdom’s plans to establish labour market information systems as a means of identifying the skills required in the labour market.
“We are also introducing short courses in our technical colleges and universities that are relevant to the job market and organising exhibitions from the teaching universities where people can get accredited within a shortest period of time,” he said.
On health and sanitation, Mr Nsibirwa said the kingdom is expected to plan for technology-based medication in kingdom hospitals and sensitise people how best it can be utilised.
“We are planning to complete the ongoing construction and operations of outpatient departments in the kingdom hospitals in various counties, which include Ssingo, Buddu and Kyaggwe,” he said.
Mr Nsibirwa also revealed that the kingdom last year budgeted for Shs157.8b and realised Shs174.4b, an increment of 40 percent.
“This is the second time in a row that the kingdom of Buganda is registering income over and above the amount that was budgeted for in the financial year,” he said.
He added that the increment has been achieved as a result of strengthening their partnerships. “Consequently, several partners have sought to continue working with the kingdom and this has been evidenced in the enthusiasm they have to renew the partnerships and to recommend other partners from their networks to work with the kingdom,” he said.
In pursuit of the 2023-2028 strategic plan, Mengo believes that it will deliver broad-based transformation, create new wealth prospects and create more economic opportunities for all the people of Buganda.