70% of Ugandans now in money economy, says Museveni as NRM marks 40 years

Kampala, Uganda: President Yoweri Kaguta Museveni has revealed 70 percent of Ugandans are now participating in the money economy, marking what he described as a major milestone achieved under four decades of National Resistance Movement (NRM) leadership.

Addressing the 40th Liberation Day celebrations at Kololo Ceremonial Grounds on Monday, Museveni attributed the shift from subsistence livelihoods to state-led wealth creation programmes, saying Uganda’s economy has steadily evolved from post-war recovery to diversification, value addition, and a transition toward a knowledge-based economy.

“At independence in 1962, only about nine percent of Ugandans were in the money economy,” Museveni said, explaining that progress remained slow until the NRM introduced targeted interventions such as Entandikwa, Operation Wealth Creation (OWC), and later the Parish Development Model (PDM).

According to the President, by 2013, only 32 percent of households were engaged in the money economy. That figure rose to 61 percent by 2019, and now stands at 70 percent, leaving about 30 percent still trapped in subsistence production.

However, Museveni issued a stern warning against corruption and elite capture, saying misuse of PDM funds threatens the programme’s objectives.

“We don’t want a country of 70 percent rich people while 30 percent are poor,” he said, adding that parish officials who divert funds will face arrest, while improperly formed committees will be disbanded.

The President disclosed that government plans to increase PDM funding, especially in urban parishes, where populations are larger, and to tighten accountability mechanisms.

Turning to the economy, Museveni said Uganda is currently growing at about seven percent annually, projecting faster growth once oil production begins. “The economy is moving very fast… and with the oil, we are going to go into double digits,” he said.

On governance, Museveni said the fight against corruption would extend to the Judiciary, praising newly sworn-in Chief Justice Dr Flavian Zeija for declaring zero tolerance to corruption. “We don’t want corruption in the courts,” Museveni said, describing judicial integrity as essential to sustaining national stability.

The President also addressed the recently concluded elections, thanking Ugandans for participating and acknowledging that although he secured about eight million votes, a significant number of NRM supporters did not turn up to vote.

The 40th Liberation Day marked four decades since the National Resistance Army captured Kampala in 1986, ending years of instability and ushering in NRM rule. The event was attended by top government leaders, including Vice President Jessica Alupo, Speaker Anita Among, Prime Minister Robinah Nabbanja, and senior security officials.