The business community in Busoga is blaming the increasing harsh business environment and growing poverty on local politicians who they accuse of neglecting their business concerns.
Second in the accounts for failing businesses in the region once named “The Headquarters of poverty” by Dr Kizza Besigye is the low purchasing power and growing failure of the credit curse.
The business community leaders from Iganga, Jinja, Mayuge, Kaliro and Namutumba meeting at Jinja City Hall said it is becoming extremely difficult to do business in the region owing to high taxation and low incentives for investment.
The Traders believe that all efforts by government to fight poverty have been frustrated by local leaders who gift the projects to their henchmen.
Henry Mugimba, the chairman of Jinja Central Market speaking at the inaugural Business Class Talk Shows hosted by Sir Simon Muyanga Lutaaya and co-sponsored by Victoria University, Capital Markets Authority and Tooke brands said efforts to improve the investment climate in Busoga haven’t yielded since the region presents no unique comparative advantage hence compromising her competitiveness.
Mugimba said businesses were dying at infancy but authorities were reluctant to probe into the causes so as to find mitigation measures.
Dr Joshua Gukiina, a Human Resource Consultant and lecturer however, disagreed blaming the business community itself for what he called failure to transform from petty to solid business.
Gukiina says the Basoga are not good business people and have failed to learn business since they do not accept their low understanding of business.
Traders were echoing their challenges in trade before officials from the Capital Markets Authority, Uganda Revenue Authority, Tooke brands and Victoria University. The meeting organized by Jinja City council and SML News Ug was aimed at offering a platform for business voices to eliminate bottlenecks to business in Busoga sub – region.
Uganda Tourism Board Chairman,Daudi Migereko attended the business community meeting to showcase the region’s tourism potential. He was impressed that tourism was fast picking up in the region but hastened to add that the local population was not tapping into the opportunities.
His view was however challenged by Prof Frank Nabwiso, a researcher and social analyst who faulted Migereko and government for failure to understand Busoga’s challenges.
Nabwiso says government has refused the facts from his research that would aid their understanding of the region’s economy. He presented a paper structuring the economy of Busoga from pre – colonial to present times.
What are the real bottlenecks to trading in Busoga?
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