Corti Paul Lakuma making his presentation during the FSDU, Research Forum Third Breakfast Meeting held at Golden Tulip hotel Kampala. Photo by Mouris Opolot
Economic Policy Research Centre (EPRC) Research Analyst, Corti Paul Lakuma participated at the Financial Sector Deepening Uganda (FSDU), Research Forum Third Breakfast Meeting held at Golden Tulip hotel Kampala in August 22, 2018 where he presented the macroeconomic effects of mobile money in Uganda.
FSDU was brainstorming on the key areas to research into so as to drive financial inclusion.
Paul told the meeting that mobile money can ameliorate the effectiveness of monetary policy to the extent that it improves financial inclusion.
He noted that mobile money disrupted the traditional financial system as it revolutionized the way people save and make payments or transfers.
Lakuma raised the need for policy makers to provide the policy and regulatory framework through which mobile money balances can become interest-bearing assets.
He also called for exploration of mechanisms through which mobile money can more ably support GDP growth.
This is part of EPRC support to the policy direction and priorities of various stakeholders, which include government ministries, agencies and departments, non-government bodies, academia and the private sector.
Relatedly Paul participated at the Southern and Eastern African Trade, Information and Negotiations Institute (SEATINI) Fair Tax Monitor peer review, held in August 24, 2018 at Protea Hotel Kampala.
Partaking in a panel discussion Lakuma said that politicians in business can be taxed once business and politics is separated. This he said is impossible to achieve in most cases.
His submission followed a general outcry during the meeting that tax exemptions often favour the well established and ignore those at the lower pyramid of the population.
Lakuma called on government to implement the Leadership Code Act, 2002 which requires leaders to declare their income, assets and liabilities. He further called for equity in scholarships and payment of bills such as electricity.
The SEATINI organized peer review also featured Dorothy Nakyambadde, a Researcher working with Uganda Revenue Authority (URA) and Everest Kayondo the Kampala City Trader’s Association (KACITA) Chairman.
Nakyabadde alluded that tax exemption calls for crosscutting indulgence by state players such Ministry of Finance, URA among others. She called for translation of tax literature (Laws and guidelines) into local languages a move, which was reiterated by Lakuma.