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Buganda Kingdom Announces £40 Million Budget for Upcoming Fiscal Year

Bulange Mengo - Buganda Kingdom Announces £40 Million Budget for Upcoming Fiscal Year
Buganda Kingdom Announces £40 Million Budget for Upcoming Fiscal Year
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Buganda Kingdom has announced its budget for the 2023/2024 financial year, which exceeds the previous year’s budget of £31.6 million. During a session held on September 25, 2023, the Buganda Lukiiko, the kingdom’s parliament, approved a budget of £40 million for the upcoming fiscal year. Mr. Robert Waggwa Nsibirwa, the kingdom’s finance minister, shared that they anticipate a 22.5 percent increase in revenue collection during this period.

The primary sources of income for the kingdom in the new fiscal year are expected to include revenue from land-related services, partnerships, education, cooperatives, tourism, activities of the royal treasury, and media houses.

The allocated funds in the 2023/24 budget prioritize sectors such as investment and economic development with £14 million, followed by education with £4.3 million, management of royal treasury activities with £3.8 million, communication and information with £3.1 million, and land management with £2.2 million.

Mr. Nsibirwa emphasized that the Buganda Kingdom’s economy would continue to rely on agriculture, education, and services, as these sectors have proven to be productive and beneficial to its subjects.

He stressed the importance of supporting coffee and food production as essential components of Buganda’s economic agenda. However, he cautioned against unnecessary interference in the coffee sector, which has the potential to disrupt its growth.

Regarding education, the kingdom plans to establish labor market information systems to identify the skills required in the job market. Additionally, they will introduce short courses in technical colleges and universities that align with job market needs.

In the field of health and sanitation, the kingdom intends to implement technology-based healthcare in its hospitals and educate the public on its effective utilization. Furthermore, they are actively working on completing the construction and operation of outpatient departments in various county hospitals.

Mr. Nsibirwa proudly stated that the kingdom had exceeded its budgeted income for the previous year, achieving a 40 percent increase. He attributed this success to strengthened partnerships with various organizations and expressed optimism about continued collaboration in the future.

In line with their 2023-2028 strategic plan, the Buganda Kingdom aims to bring about widespread transformation, create new economic opportunities, and improve the prosperity of all Buganda’s people.