Uganda has taken a significant step toward economic self-reliance with the unveiling of a new, locally developed rice variety, WDR 73, which is set to double the country’s current rice yields.

The new variety, which produces up to 10 metric tons per hectare, was presented by Dr Yona Baguma, Director General of the National Agricultural Research Organisation (NARO), at the ongoing Certified Public Accountants (CPA) Economic Forum in Entebbe.

Dr Baguma emphasised the potential of WDR 73 to reduce Uganda’s annual rice import bill, which currently stands at $9.8 million.

“ It’s more than a crop, it’s a symbol of Uganda’s path to self-reliance,” he said.

The announcement was made during the CPA Economic Forum, which opened on July 9, 2025, at Imperial Resort Beach Hotel.

The three-day event, which concludes on July 11, is focused on Uganda’s economic transformation, with key discussions on tax reforms, public finance management, sustainability, and the future of accounting in Uganda. It also explores global trends and the role of geopolitics in shaping economic policy.

The forum, attended by accountants, policymakers, economists, and business leaders, was opened by CPA Timothy Ediomu (ICPAU President) and CPA Alfred Kabuchu (ICPAU Vice President). Both leaders emphasized the critical role of accountants in driving national policy and sustainable development.

The development of WDR 73 comes as part of Uganda’s broader efforts to move towards full monetization of its economy. By reducing dependency on rice imports and increasing domestic production, the country aims to strengthen its agricultural sector and create more job opportunities, while also improving food security.