Buganda Kingdom has registered a surplus of 16% in its half-year revenue, the kingdom Minister of Finance Mr. Robert Waggwa Nsibirwa has said.
Mr. Nsibiorwa released a report on the kingdom's earnings and expenditure in the first half of the financial year 2021-2022 in the Buganda Lukiiko at Bulange Mengo on Monday.
He told the Lukiiko that whereas the kingdom expected to raise revenue of 60 billion Uganda shillings in the first half of the financial year, they earned more than 70 billion Uganda shillings, representing a surplus of 16% in the kingdom earnings.
Mr. Nsibirwa attributes this increase in revenue earned to four factors, including partnerships the kingdom has with different organizations such as Dwelling places, monetary gifts by kingdom loyalists who contribute money every Tuesday in an initiative dubbed Oluwalo lwo, rent on kingdom land, and intermittent payments by the Uganda government on rent amounting to 6 billion Uganda shillings.
Due to the surplus, the kingdom has been able to achieve a lot of things budgeted for in the 1st half of the 2021-2022 Kingdom financial year.
While addressing members of the Lukiiko at Bulange Mengo on Monday, the Katikkiro Charles Peter Mayiga noted that with this money, the kingdom has done a lot of activities to uplift the lives of the subjects.
Some of the activities include; offering scholarships to students, creating savings groups such as CBS PEWOSA, protection of the environment through planting trees, and provision of legal services through the Buganda Royal Law Chambers on land issues.
Other activities are; setting up two hospitals one in Nsangi and another in Kalasa which are now equipped at 70% and are yet to be opened for use. The Kasubi tombs have also been restored and are now being thatched. In the field of agriculture, the kingdom has set up 6 seedling nurseries for coffee cuttings in different counties and built five homes for underprivileged subjects.
In June 2021, the kingdom approved a budget totaling 121 billion Shillings to support different Kingdom activities in the new financial year 2021/2022. This budget was meant for the delivery of social and economic development services to the Kingdom subjects, mainstreaming youth in all Kingdom plans, and ensuring that the digital platform economies are promoted in the Kingdom.