Ramathan Goobi, the Permanent Secretary of the Ministry of Finance, Economic Planning and Development, has revealed that Uganda Airlines offers numerous opportunities for the local and business community to drive economic growth.
During the Uganda-UK Business Forum held at the Sheraton Kampala Hotel today, Goobi emphasized the importance of leveraging Uganda Airlines’ expansion to support the country’s vision for a ten-fold increase in Gross Domestic Product.
“A National Carrier opens up multiple opportunities. I would, therefore, like to use this opportunity to call upon the local and international business community here today to explore ways of leveraging the opportunities being opened up through Uganda Airlines’ expansion to support our vision for a tenfold increase in the Gross Domestic Product,” Goobi said.
Goobi explained that Goss Domestic Product (GDP) was 6.7% at the end of the Financial Year 2023/24 but that the economy has since expanded from Shs183 trillion (USD 48.8 billion) as registered in Financial Year 2022/23 to about Shs202.13 trillion (USD 53.2 billion) in the Financial Year 2023/24 partly due to Uganda Airlines expanding routes to several countries.
He stressed that the key takeaways from the Uganda-UK Business Forum should be: increased focus on quality standards for exports, leveraging the UK’s tariff-free trade scheme, and the potential of the new direct London route, which will open doors for Uganda’s business community and the tourism sector.
Jennifer Bamuturaki, the Executive Director, Uganda Airlines, noted that the London route to Gatwick International Airport, which Uganda Airlines secured recently, is of great strategic importance due to the shared history, culture, business and social ties with the United Kingdom.
“The UK remains a key source market for Uganda/Africa-bound tourism, and it’s also a vital tourism destination for Uganda’s perishable exports and a trusted origin of high-quality brands widely embraced by Ugandan consumers,” Bamuturaki said.
Opportunities for Economic Growth
Uganda Airlines offers the business community several opportunities, some of which include;
Increased Connectivity
Uganda Airlines’ expanded route network enhances connectivity infrastructure, facilitating travel and trade between Uganda and international destinations. The airline currently operates flights to 16 destinations in 13 countries.
Trade and Cargo
The airline’s cargo capacity creates new markets for Ugandan commodities, boosting trade and economic opportunities. Uganda Airlines has acquired a Boeing 737-800 Freighter specifically for cargo operations.
Job Creation
Since its inception, Uganda Airlines has created over 600 direct jobs and 15,840 indirect ones, contributing to the country’s economic development and reducing unemployment.
Tourism Boost
Direct flights to London and other destinations are expected to increase tourism activities, thereby generating revenue and promoting cultural exchange.
Regional Aviation Hub
Uganda’s aviation sector is growing, with plans to become a regional aviation centre. The Civil Aviation Authority has implemented satellite-based navigation systems to enhance operational effectiveness and flying safety.
By leveraging Uganda Airlines’ opportunities, the local and business community can contribute to the country’s economic growth and development. The airline’s expansion plans and increased connectivity are expected to drive economic growth, create jobs, and promote trade and tourism.