Small businesses to benefit from $485m fund

Micro, small, and medium-sized enterprises have an opportunity to benefit from a $485m (Shs1.7 trillion) that has made available to create sufficient opportunities for refugees and host community. 

The fund comes after a study, in which Private Sector Foundation Uganda in partnership with Mastercard Foundation yesterday launched a report - Assessment of Private Sector Investment and Youth Work Opportunities around Persons of concern and Host Communities in Uganda – with findings indicating that there is a significant potential for private sector investment opportunities in persons of concern and host communities, particularly in agriculture and wholesale trade. 

Other investment opportunities include tourism, hospitality, financial services, energy and lighting sectors and vocational skills training, among others. 

Speaking at the launch of the report, Mr Stephen Asiimwe, the PSFU executive director, said they had now set up a desk to officially support refugees but also uplift businesses that take up opportunities in persons of concern and host communities.

This, he said, will essentially empower local businesses as well as empower refugees to improve their livelihoods. 

Uganda hosts about 1.5 million refugees in different parts of the country. 

“The model has changed to giving refugees money and skills to support them have a meaningful life,” Mr Asiimwe said, said, noting that previously, refugees had been staying for shorter periods but now that they stay longer, which has created the need for them to get involved in activities such as farming, agri-business, manufacturing and professional services, among others. 

Mr Gerald Emoyo the UNHCR livelihoods officer, said there is need to provide economic opportunities to refugee settlements before humanitarian assistance by availing land for farming as well as creating markets for their produced.

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