• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

UDB Anchors Strong Sustainable and Inclusive Growth for Uganda in 2021

Watchdog Uganda by Watchdog Uganda
3 years ago
in Business, Finance
1 0
ShareTweetSendShare

Kampala, Uganda:  Uganda Development Bank, the country’s National Development Finance Institution, has today released its 2021 Direct Impact Report highlighting the fundamental role that the Bank continues to play toward Uganda’s sustainable socio-economic transformation and growth. This Direct Impact Report reflects UDB’s work and coverage through job creation, output value, forex, and tax generated by enterprises supported by the Bank.

“In the intervening period, the Bank’s investment created and maintained a total of 41,338 jobs, and a total output value of UGX 2.445 trillion was realized. This output value contributed UGX84 billion in form of tax revenue to the government, and forex earnings of UGX405 billion,” the report reads in part.

Job creation
The share of jobs created and maintained per sector was highest in Agro-processing at 41%, followed by Primary Agriculture at 30%. The Manufacturing, Infrastructure, and Tourism sectors contributed 17%, 6%, and 3% respectively while other sectors that the Bank supports, including health and education accounted for 4%.

Output value
Of the total output value reported in 2021, the Agro-processing sector contributed 42%, followed by the Manufacturing sector at 33%, and Primary Agriculture at 17%. Other sectors contributed; Infrastructure – 3%, Health – 3%, and Tourism – 2%.

Profits
The Bank through its investments, continues to facilitate the growth of a vibrant and sustainable private sector. The enterprises funded by UDB generated profitability amounting to UGX314Bn. Through 2021, the highest profits being posted by enterprises in the Manufacturing sector which contributed 39%, followed by Agro-processing at 32%, and 21% from Primary Agriculture sectors respectively. The tourism and health sectors contributed 4% and 2% respectively.

Tax
Of the tax contributions reported, the Manufacturing sector contributed the highest share of 45%. This was followed by Agro-processing at 25%, Primary agriculture at 23%, and 3% for both Infrastructure and Tourism respectively. The health sector contributed 1% of the total share of tax revenue reported whereas the Education sector had no contribution in light of the effect of the Covid-19 pandemic lockdown measures.

Foreign Exchange
The share of foreign exchange earnings among the enterprises was highest in the Agro-processing sector at 50%, followed by the manufacturing sector at 33%. The health contributed 14% of the forex earnings contributions.

Gender
In line with the Bank’s effort to democratize economic participation, the DI report notes positively that over 30% of companies funded by UDB are owned by women. The dedicated funding program for Women and Youth known as Special Programs launched in 2021 shall however be expanded to reinforce these targets as women and youth together constitute the most active segments in the economy as well as the most numerous.

“These results reflect the Bank’s sustained contribution to the economy, augmenting the production of essential commodities amidst the shock of the COVID-19 pandemic which affected all the sectors, increased the cost of living, and disrupted global trade and markets. This Direct Impact Report 2021 demonstrates that UDB’s presence in the economy has had an overall positive impact,” Dr. Francis Mwesigye, the Director Economic Research and Knowledge Management at Uganda Development Bank said during the launch of the report.

“I would like to thank our customers, with whom we partner to deliver these results. I do reiterate our commitment as UDB, to deliver our mandate by deliberately focusing our efforts on interventions that create sustainable impact, thereby improving the quality of life of Ugandans.”

The Direct Impact report tracks the Bank’s socio-economic footprint against its Strategic Plan and the country’s national development priorities. In addition, the Bank looks at its High Impact Goals which are aligned with engendering wholistic sustainability, inclusion, community development, and environmental protection.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
ShareTweetSendShare

Related Posts

Pastor Benny Hinn, the American evangelist currently in Uganda for a three-day crusade, visited President Museveni and Maama Janet at the Nakasero State Lodge on Saturday evening.
Business

Televangelist Benny Hinn Prays for Museveni, Janet as Kampala Crusade Draws Thousands

29th June 2025 at 11:55
Business

Obituary: Tragic Death of Sembabule based CBS FM Journalist Jimmy Ssekabito Leaves Behind Many Questions

28th June 2025 at 13:10
Business

Rugby Union Teams Up with Luxe Speke Resort for Sizzling 2025 Africa Cup

26th June 2025 at 16:04
Next Post
Kisoro LC5 Chairperson Abel Bizimana

Kisoro district boss blames humanitarian agencies for failing to end conflicts in some African countries

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1098 shares
    Share 439 Tweet 275
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2282 shares
    Share 913 Tweet 571
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    38 shares
    Share 15 Tweet 10
  • Pastor Bugingo Seeks Reconciliation with Teddy and Children, Prays for Makula’s Twins

    18 shares
    Share 7 Tweet 5
  • LIST : Gov’t releases Revised Salary Structure for Teachers, Police, and Prisons Staff for FY 2024/2025

    111 shares
    Share 44 Tweet 28
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

RDC George Owanyi engaging the meeting

Nakapiripirit RDC George Owanyi teams up with Karamoja Anti-Corruption Coalition to intensify fight against corruption 

30th June 2025 at 09:21

RICHARD BYAMUKAMA: The Legitimacy of South Sudan’s Government Hangs in the Balance

29th June 2025 at 23:59

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is set to speak at business forum in United Kingdom

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0
RDC George Owanyi engaging the meeting

Nakapiripirit RDC George Owanyi teams up with Karamoja Anti-Corruption Coalition to intensify fight against corruption 

30th June 2025 at 09:21

RICHARD BYAMUKAMA: The Legitimacy of South Sudan’s Government Hangs in the Balance

29th June 2025 at 23:59

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda