Goal 3: Develop a Sustainable Services Sector

The services sector remains the largest contributor to GDP accounting for 41.5% of GDP in FY 21/22. This demonstrates the importance of the services sector in the development of the Ugandan economy and the potential it has in creating gainful employment if well exploited. Through this goal, the Bank will pursue the following select sub-sectors:

Science, Technology, and Innovation (STI) – The Bank intends to position itself as a leader in promoting and supporting innovative solutions that address key constraints/challenges of the economy. The Bank will support the government’s efforts to finance the commercialization of viable scientific research innovations in consultation with the relevant Secretariats. The Bank will also support the technological transformation of society and the economy by advancing the adoption of new technological and digital solutions that address the challenges of socioeconomic development, and environmental and climate change. The Bank will mobilize resources to implement Industry 4.0 initiatives, among others.
Education – Uganda’s human capital is characterized by low labor productivity attributed to among others, a lack of appropriate knowledge skills, and attitudes and limited social protection (NDP III, 2020). To this end, the Bank will work in close collaboration with both the Government and the Private Sector in advancing the development of skills relevant to the key growth sectors to increase the productivity of the population and create a workforce that is highly skilled with better and high-paid jobs. This will comprise but is not limited to supporting the establishment or refurbishment of institutions for skills development in scientific research, innovation, technology, and skills in new and emerging industries that are pivotal in addressing challenges of sustainable development.
Health – The Bank’s focus will remain on supporting the establishment of systems that enhance access to quality healthcare services.
Tourism– The Bank will continue to support the private sector players to increase the stock and quality of the tourism infrastructure, and in developing a pool of skilled personnel along the tourism value chain.
Creative Industry – This is an emerging subsector that is critical to facilitating employment creation. The Bank will develop a sectorial strategy to articulate its intervention.

Goal 3: Develop a Sustainable Services Sector

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