Ibanda district unveils plan to attract more investments.
Ibanda district has unveiled a plan to attract more investments by encouraging people born in Ibanda but staying in Kampala to come and invest back home to spur its development.
Speaking during the district’s budget conference for the 2023/3024 fiscal years at the Council Hall, Herbert Happy Mayanja, the LC V chairman Ibanda district said that attracting more investments into the district would create more jobs for residents, especially the youth.
Mayanja added that the district leaders would soon meet a select group of potential investors to interest them in the immense investment opportunities the district offers.
According to reports, Ibanda has opportunities in agro-processing, tourism, mining, dairy, metals and fabrications, construction, farming, education and general trade, among others.
According to district authorities, Ibanda expects to spend UGX 27 billion next financial year. Of this, UGX 25.77 billion will come from the government while locally raised revenues will only cover 3.5% which is approximately UGX 937.6 million of the expected total budget. Donors are expected to add UGX 311.4 million.
Kweyunga Ruhemba, the Ibanda chief administrative officer (CAO) told stakeholders that next year’s budget seeks to restore the economy to a growth trajectory of between 6-7%.
The conference was attended by district councilors and district staff, sub-county chairpersons and chiefs, town clerks, and development partners among others.
A budget conference is the initial step in the budget preparation process, where the expected expenditure plans are presented to key stakeholders for their input.