By; Francis Lubega
07th November 2019
The World Bank is concerned about the government none adherence to giving agriculture and insurance subsidies to small model farmers to increase on their agricultural productivity but only favors large firms.
This was revealed by the world bank senior financial sector specialists Kampala office Emiko Todoroki while speaking at the at the 2019 Africa FinTech Festival on the fiscal policy and financial inclusion going on at Kampala Serena hotel.
She says that Agriculture credit scheme and insurance subsidies is not going to the intended beneficially but are given to large firms according to the study carried out by the World Bank in Uganda yet such initiatives are intended for the growth agriculture sector.
World Bank noted that the 0.5% mobile money tax policy on withdrawal that was introduced in 2018 moving from 1% has doubled the financial truncations on the mobile money platforms since it has been accepted by the market.