Economists blame government for deliberately not letting Ugandans own their economy.
Economists have lashed out at government for deliberately not letting Ugandans own their economy.
Speaking during a symposium themed; ”who owns the economy ”Dr. Fred Muhumuza a renowned economic analyst said currently the service sector takes up 50% of the economy yet this is purely in the hands of foreigners
Dr.Muhumuza says for several years members of the local business community have not been regarded as investors and have been denied privileges that are normally accorded to foreign investors.
He said that many service sector businesses like banking, insurance, telecoms and other utility companies are in the hands of foreigners who simply repatriate all profits.
He says a lot has been invested in facilitating the services sector and creating an investor friendly environment leaving out agriculture which employs upto 83 % of Ugandans.
Dr. Muhumuza is now calling for re-designing of Uganda’s economic structure.
