economy 1 May 2026 Daily Monitor (Uganda)
Uganda Targets $500bn Economy Through Science, Tech, and Innovation Drive
Uganda is leveraging science, technology, and innovation (STI) as key drivers to expand its economy from $66 billion to $500 billion by 2040. Vice President Jessica Alupo emphasized transitioning to a knowledge-based economy during the launch of National Science Week 2026. Source: https://www.monitor.co.ug/uganda/news/national/uganda-banks-on-science-tech-innovation-to-achieve-500bn-economy-5443414
Uganda’s government has committed to bolstering science, technology, and innovation to fuel economic growth. At the opening of National Science Week 2026 on April 30, Vice President Maj (rtd) Jessica Alupo, representing President Museveni, urged a shift from a consumption-driven economy to one powered by knowledge and innovation.
The country aims to grow its GDP tenfold by 2040, from around $66 billion (Shs284.2 trillion) currently. This aligns with the tenfold growth strategy launched last year, focusing on agro-industrialisation, tourism, mineral development, and STI—known as the ATMS pillars.
The Fourth National Development Plan (NDP IV), spanning FY2025/26 to FY2029/30, seeks to double the economy every five years via value addition, infrastructure, and private sector growth. Priorities include boosting productivity in agriculture, industry, and health, while enhancing job creation and social wellbeing.
Alupo highlighted that Uganda has abundant land, labor, and capital but needs entrepreneurship to optimize them. She stressed prioritizing science education to build a skilled workforce for industrialisation and investment attraction.
Science Minister Dr. Monica Musenero noted that STI investments could cut pharmaceutical imports by 40% by 2040. She revealed plans for a Biosciences Park, an innovation hub with shared labs, housing, and commercialization facilities.
The National Science Week, themed ‘STI Works: Powering Uganda to a $500 Billion Economy,’ runs until May 3 at Kololo Ceremonial Grounds, featuring innovators, policymakers, students, and businesses showcasing local technologies.
Source: Daily Monitor (Uganda)