The Public Investments Management Centre of Excellence officially launched a two-week training program focused on Financial and Risk Analysis of Public Investments today September 23, 2024. Approximately 30 economists from various Ministries, Departments, and Agencies (MDAs) are participating in this intensive training, which aims to enhance their skills in public investment management.
The training kicked off with an opening ceremony led by Prof. Ibrahim Mike Okumu, the Dean of the School of Economics at Makerere University. Prof. Okumu expressed gratitude to the Government of Uganda for its generous funding that has made this centre possible. He also acknowledged the dedicated trainers, who bring expertise from Makerere University, the National Planning Authority, the Ministry of Finance, Planning and Economic Development, and Cambridge Resources International.
“This training is not just an opportunity for professional development; it is a crucial step towards ensuring effective management of public investments in Uganda,” Prof. Okumu stated. “The knowledge gained here will have a lasting impact on our nation’s long term economic landscape.” This is because this training enables us to grow a critical mass of planners who have a potential to appraise projects so that we limit bad public projects and increase public project efficiency by increasing the link between public projects and the economy.
Dr. John Seruyange, the Centre Manager, welcomed the trainees and praised their commitment to this capacity-building initiative. “Your presence here reflects a dedication to improving our public investment processes,” he said. “Over the next two weeks, you will engage in rigorous training designed to equip you with the necessary tools to make informed financial decisions and effectively analyze risks associated with public investments.”
Joseph Ahaisibwe from the Ministry of Finance, Planning and Economic Development noted that the programme integrates the different modules of the appraisal such as demand/market analysis, technical and environment analysis, financial, economic and risk analysis so as to ensure a 3600 degree view and avoid most of the challenges that have in the past resulted into project delays. He noted that, the programme has started yielding results through increased number of projects being appraised from 10% in 2016 to now over 80% in 2024. “This performance raises hope that as more participants are trained, the dividends will be more to Government”. Joseph noted. He implored participants to pay keen attention and utilize the faculty members to the maximum so that as they go back to their places of work, there is value to add.
Participants hail from a range of organizations, including the Ministry of Finance, Planning and Economic Development (MoFPED), the National Planning Authority (NPA), the Uganda Police, the Ministry of ICT, as well as Muni University and Makerere University. This diverse representation underscores the collaborative effort required to enhance public sector capabilities.
The training program promises to be both challenging and rewarding, setting the stage for the development of a skilled workforce ready to tackle the complexities of public investment management in Uganda. As the programme unfolds, participants will not only gain valuable knowledge but also contribute to the overarching goal of fostering sustainable economic growth for the country.