Caroline Adriaensen, EU Head of Cooperation, addresses Micro, Small and Medium-Sized Enterprises (MSMEs) in Uganda, announcing a new package of support to enhance their competitiveness, improve access to finance, and promote innovation and entrepreneurship (PHOTO/Courtesy).
KAMPALA — The European Union (EU) has reiterated its commitment to supporting Uganda’s Micro, Small and Medium-Sized Enterprises (MSMEs) sector, pledging to continue providing financial and technical assistance to entrepreneurs across the country.
Speaking at the MSME Day celebrations in Uganda, EU Head of Cooperation, Caroline Adriaensen, announced a new portfolio of support for women and youth entrepreneurs, including the Team Europe Initiative on Investing in Young Businesses in Africa, worth EUR 138 million (UGX 549 billion).
“Our support is focused on enhancing the competitiveness of MSMEs, improving access to finance, and promoting innovation and entrepreneurship,” Adriaensen said. “We believe that by working together, we can create jobs, promote sustainable enterprises, and drive economic growth and social development in Uganda. This initiative will provide financing and technical support to young entrepreneurs, enabling them to grow their businesses and create jobs.”
Adriaensen also highlighted the importance of MSMEs in Uganda’s economy, accounting for 90% of the private sector, 80% of manufactured output, and 75% of GDP. “Our support is focused on enhancing the competitiveness of MSMEs, improving access to finance, and promoting innovation and entrepreneurship,” she said.
The EU’s support for MSMEs in Uganda is part of its broader commitment to promoting economic growth, job creation, and sustainable development in the country. The EU has been working closely with the Ugandan government, private sector, and civil society to create a conducive environment for MSMEs to thrive.
The new support package announced by Adriaensen includes the WeWork programme, launched alongside Belgium, to create green and decent jobs for youth, and the Opportunities Are Here project, a EUR 2 million (UGX 7.5 billion) initiative to support young entrepreneurs in the film sector.
“The EU is committed to supporting women and youth entrepreneurs in Uganda. We believe that they are key drivers of economic growth and social development,” she added.
The EU also launched a dedicated access to finance portal, providing information on facilities available for the private sector in Uganda, including the Agricultural Business Initiative with Denmark and the Renewable Energy Guarantee facility, funded by Sweden.
Minister of Gender, Labour and Social Development, Betty Amongi, commended the EU for its support, stating that “the contribution of women and youth to the MSME sector in Uganda is vital. Their entrepreneurial spirit and resilience are driving forces behind our economic growth and social development.”
“The Ministry of Gender, Labour and Social Development is dedicated to creating an enabling environment for MSMEs to thrive,” Minister Amongi added. “We are committed to continuing our support to women and youth entrepreneurs, and we believe that this support from the EU will complement our efforts.”
Minister Amongi emphasized the importance of technology and innovation in enhancing the competitiveness of women and youth entrepreneurs. “We must embrace technology and innovation to improve production and value addition in the MSME sector,” she said. “This will enable women and youth entrepreneurs to produce high-quality products and services that meet international standards. We must work together to provide resources and opportunities to support women and youth entrepreneurs. Together, we can achieve sustainable development and economic growth in Uganda.”
The Minister also highlighted the Ministry’s initiatives to support women and youth in MSMEs, including the Generating Growth Opportunities and Productivity of Women Enterprises (GROW) Project, the Parish Development Model (PDM), the Uganda Women Entrepreneurship Programme (UWEP), and the Youth Livelihood Programme (YLP). “We are committed to continuing our support to women and youth entrepreneurs,” she said. “We will ensure that they have the resources and opportunities needed to succeed. Together, we can achieve great things and drive economic growth and social development in Uganda.”
