This underlines the need to reduce our dependence on fossil fuels. Another huge cost of our reliance on fossil fuels is climate change. The earth is warming rapidly, with massive risks to ecosystems and humans, and urgent action is needed to reduce our consumption of fossil fuels and shift to green sources of energy.
The World Bank’s Doing Business Indictors reveal some of the reasons why Uganda does not attract higher rates of private investment. I have already mentioned that firms cited the inadequate supply of infrastructure as one of the most problematic factors affecting their business, and the policy implications of this.