In a collaborative effort, the Private Sector Foundation Uganda (PSFU), partnered with the Mastercard Foundation and The African Management Institute (AMI), to organize an event at the Sheraton Hotel. The purpose of this event was to engage in constructive discussions aimed at reshaping the landscape for Business Development Services (BDS) in Uganda.
Bringing together key figures and innovative minds from the BDS community, the event served as a platform to exchange ideas on bolstering the growth of Micro, Small & Medium Enterprises (MSMEs) and promoting sustainable economic development.
Despite Uganda boasting over 1.1 million small businesses, these enterprises face a significant hurdle – limited access to financial resources. This obstacle often hampers their ability to expand or even survive in the market.
In his address, Stephen Asiimwe, the CEO of PSFU, applauded the pivotal role of MSMEs in Uganda’s economy, emphasizing their contribution to job creation. He highlighted their primary challenges, which include the lack of adequate financing and essential business skills.
To tackle these issues head-on, PSFU and AMI jointly launched an extensive BDS training program. This initiative has made notable progress in enhancing the capabilities and standards of BDS providers across Uganda.
Through a standardized framework, which incorporates extensive consultations and the participation of local standards experts, the program aims to uplift the quality of business support services.
Similarly, Rebecca Harrison, CEO of AMI, elaborated on the methodology employed in their training programs. Utilizing a practical, tools-based learning approach, they equip BDS providers with the necessary skills and resources to effectively assist SMEs.
The overwhelming response, with over 1000 applications received, reflects a nationwide interest and potential impact on 10,000 MSMEs.
Additionally, more than 217 BDS providers have undergone comprehensive training, further elevating business support standards across Uganda.