Experts urge gov’t to invest in human capital, education, health

The Uganda Bureau of Statistics population census and projection report of October 2023 has indicated that Uganda’s population is 46.2 people with 22.7 million male and 23.4 being female.

 A critical analysis of this demographic structure has also revealed opportunities and threats that the government should address immediately if the economy is grow.

Economist Francis Muhiire, says that this projection report reveals a lot about Uganda and with it , opportunities and threats.

 By age group, Uganda has 7.6 million people between 0-4 years, 5-9 are 6.7 million people, those between 10-14 are 5.8 million while those between 15-19 years are 5.3 million.

These according to the economist denote a huge dependency burden onto the working class thus reducing its disposable income in addition to other dangers.

The opportunity is that you have a sizeable workforce to offer affordable labor , and market for the finished products. But the question is , are these people educated, are they healthy?” Muhiire said.

While data about the Ugandan working population both formal and informal may be scanty, people between 25 and 60 years is around 15 to 16 million and it is in here that the unemployment rates are high.

Economists say this state of affairs is disastrous.

“The Ugandan demographics have for long been this way , with many young people and the regimes that came first did not invest much in Human capital . That is why we are at the place we are at now . This is time bomb.”

In order to reap benefits which economics call the “demographic dividend” some things need to be done  according to economists.

“Government needs a strategic plan , not for 5 or even 10 years but 20 years detailing where the country should be in terms of job creation, skilling and innovation where most young people can benefit. Otherwise, these Emyooga, Bonna Baggaggawale, PDM may not yield much.”

Uganda has one of the youngest populations in the world and experts says that failure to commit substantial investment in the right areas will only keep the country backward.

Source: NilePost