Uganda wants to grow its economy ten times bigger and reach $500 billion worth of business activity within 16 years. Bank of Uganda deputy governor Augustus Nuwagaba said the country can achieve this goal with major changes to how it operates. The nation must create more than one million jobs each year to reach the target. Leaders plan to focus on farming, tourism, mining, and technology sectors for job creation. Young people need work opportunities as the population continues growing rapidly.
The economy must expand between 14 and 16 percent annually to meet the ambitious target. Current growth rates hover around 6 percent over recent years. Nuwagaba warned that without serious policy changes and structural reforms, the vision might...