Programme 07: Private Sector Development Programme

  Key activities for FY 2023/24 under Programme 07: Private Sector Development Programme

Under this programme, the Ministry will undertake several initiatives to improve the capacity of private enterprises and access to finance. These include the following: -

1.Capitalization of Uganda Development Bank and other financing schemes to provide affordable long-term capital at affordable interest rates to agriculture, ago-processing and manufacturing for private sector growth.

2.Establish all Parish Development Model SACCOs countrywide as well as build their capacity. Further, the Ministry will develop an Accountability mechanism for the Parish Revolving Funds.

3.Trade-specific skills training for 12,000 women entrepreneurs in 1,890 parishes will be conducted. In addition, 5,850 Women entrepreneurs are targeted to benefit from the SMEs grant or credit finances. Implementation of this program is projected to create close to 12,000 jobs.

4. Undertake a Mass roll-out, awareness & sensitization for 20,000 MSMES (50% Youth 40%Female) through provision of Business Development Services (BDS).

5.Establish a National Business Development Services (BDS) Centre of Excellence and structure the BDS delivery mechanism including building capacity and coordination of BDS providers in all districts with a focus on the financial inclusion pillar under PDM.

6.The Financial Sector Development Strategy (FSDS) will be implemented in addition to monitoring of the EMYOOGA Program. A number of policies will be developed including the Development Finance Institutions Policy and Agricultural Finance Policy.

7.Under the Competitiveness and Enterprise Development Program, the Ministry will put in place a Harmonized Tourism Licensing and Taxation Framework for MoTWA, develop the Tourism Quality Assurance Framework, develop capacity for tourism associations, undertake the development of the Integrated Destination Development Plans (IDDPs) for three Tourism Development Areas as well as develop capacity to replicate the planned initiatives.

8.Further strengthening of Client Institutional capacity through training and technical assistance will be offered to at least 2,000 client institutions benefiting at least 20,000 individual members.

9.Enhance Informality Management Interventions for Compliance and Revenue Mobilization (IMCORE) and will thus facilitate a number of programs for private sector development including the Private Sector CEO Retreat, update the CEO database and coordinate Public -private dialogue platforms among others.

10.Produce a number of reports including but not limited to: Trade and Investment Performance and Prospects Report FY 2023/24, Competitiveness and Investment Annual Report as well as the monthly Micro-Economic Indicator Dashboard (MIND) reports among others.

Key activities for FY 2022/23 under Programme 07: Private Sector Development Programme

1. Capitalize Uganda Development Bank and other financing schemes capitalized to provide affordable long-term capital at affordable interest rates to agriculture, ago-processing and manufacturing for private sector growth;
2. Implement and monitor the performance of the EMYOOGA program, the Small Businesses Recovery Fund, and the Parish Development Model;
3. Provide EMYOOGA Funding and support to SACCOs through seed capital for small businesses including special interests enterprising groups;
4. Provide capitalization funds for the agricultural Credit Facility to provide long term finance for Agriculture and agro-processing;
5. Meet Uganda’s subscription to Islamic Development Bank (IDB), African Development Bank (ADB),  USAID trust fund, Trade Development Bank, World Bank made to support the country's efforts to accessing long term financing;
6. Provide continuous capitalization to Government owned financial institutions including UDB and Post Bank to provide cheaper credit to facilitate private sector growth;
7. Deepen financial inclusion in the rural areas of Uganda by strengthening policy and regulatory framework for the Microfinance Industry;
8. Fully operationalize the Small Business Recovery Fund to enable small businesses access low-cost capital;
9. Foster implementation of the 10-year Capital Markets Development Plan;
10. Revitalize business activities by implementing fiscal and monetary measures to boost aggregate demand;
11. Implement the National Payment Systems Act 2020, which provides for establishment of the National Payment Switch to reduce the cost of financial transactions;
12. Establish economic recovery enhancement facilities to support enterprises which were grossly affected by Covid-19;
13. Conduct a study to identify SMEs owned by Persons with disabilities (PWDs) that can be supported through preference and reservation schemes in public procurements;
14. Carryout procurement policy related activities to support implementation of the Local Content Strategy;
15. Facilitate and complete the ongoing construction of the Uganda Business Facilitation Center (UBFC) with a designated floor to One Stop Center to house fifteen service points for Government Agencies including URSB, UIA, Capital Markets Authority, URA among other Government Agencies;
16. Streamline systems, processes and procedures for business, investment and enterprise development to facilitate business registration and licensing;
17. Undertake reforms necessary for the smooth operation of the Credit Reference Bureau to enable capturing of financial information for all credit service providers.