Musasizi calls for stronger institutions, accountability to drive sustainable growth

What the report says

Uganda’s Finance Minister Henry Musasizi has called on institutions and professionals to strengthen accountability, financial management and evidence-based decision-making as part of efforts to support sustainable economic growth. He made the remarks at the opening of the 31st Annual Seminar of the Institute of Certified Public Accountants of Uganda (ICPAU) in Kampala on Wednesday, according to Nile Post.

Musasizi said accountants now have a broader role than recording transactions, arguing that they should help guide decisions, improve institutional performance and support better use of public resources. He said reliable financial information is important for budgeting, managing risk, planning spending and making investment choices. He also linked the profession to Uganda’s Tenfold Growth Strategy, which aims to expand the economy to $500 billion by 2040 through sectors including agro-industrialisation, tourism, minerals, science and innovation.

The minister encouraged accountants to adopt emerging technologies such as artificial intelligence, blockchain and digital financial systems to improve efficiency. He also said government remains committed to public finance management, fiscal discipline and accountability, and is working with ICPAU to build capacity in new areas. In separate remarks at the seminar, National Social Security Fund Managing Director Patrick Ayota emphasized customer value and better service delivery, while ICPAU President Timothy Ediomu urged accountants to keep building skills, uphold integrity and offer strategic advice as business conditions change.