More Markets Approved

The African Development Bank (AfDB) Group has approved the construction of 11 markets in the second phase of Uganda’s Markets and Agricultural Trade Improvement Programme (MATIP 2).

A statement sent to The Observer from the ministry of Local Government said the endorsement came at a meeting of AfDB’s board of directors in Abidjan, Ivory Coast, on Tuesday.

The statement added that the Uganda government considers markets public goods and strategic components in its quest for poverty reduction and economic growth. The reconstructed markets are expected to improve hygiene conditions, reduce post-harvest losses, install facilities to meet demand, for example cold storage units for fish storage, and provide increased trade opportunities between rural and urban areas.

The markets, across all the country’s regions, will absorb 16,951 registered vendors, majority of them women they also target over 900,000 households in the neighborhoods. The second phase follows the completion of seven other markets reconstructed under MATIP 1.

These included: Jinja central market, Mbale main market and Mpanga main market in Fort Portal. Others are Hoima central, Lira central, Gulu main, and Wandegeya market in Kampala.

AfDB’s director for the Agriculture and Agro-industry department, Chiji Ojukwu, said the bank was proud to be associated with Uganda’s market story.

“The markets have greatly contributed to Uganda’s economy and the MATIP has specifically become a flagship programme for the government and is at the centre of several activities which now include not only commodity exchanges and trade but also banking and other ancillary businesses,” Ojukwu said. “I use this opportunity to invite board members to find time to visit some of these markets to appreciate their contributions to Uganda’s economy.”

Source : The Observer

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