The Independent Uganda: You get the Truth we Pay the Price
But entrepreneurship is just one piece of the puzzle. Education remains a cornerstone of Uganda’s future
Kampala, Uganda | JULIUS BUSINGE | From February 19 to 21, the Mastercard Foundation hosted the Young Africa Works 2025 Dialogue in Kampala, a gathering that felt less like a conference and more like a rallying cry for Uganda’s future.
The event brought together government officials, private sector leaders, financial institutions, and development partners with one shared mission: to unlock the potential of youth entrepreneurship as a force for economic transformation. The dialogue was a testament to the power of collaboration, but also a stark reminder of the challenges that lie ahead.
Uganda’s youth unemployment crisis is well-documented. Each year, the country produces over 700,000 graduates, yet only 90,000 secure formal employment. The rest are left navigating an uncertain future, often hindered by a mismatch between their skills and the demands of the labor market. Against this backdrop, the Mastercard Foundation’s dialogue couldn’t have been more timely—or more urgent.
Adrian Bukenya, the Foundation’s Country Director, opened the event with a note of optimism. Over the past five years, the Foundation has helped 1.3 million young Ugandans access dignified work and entrepreneurial support. But Bukenya was quick to temper this achievement with a dose of reality. “To achieve impact at scale,” he said, “we need systemic transformation. This isn’t just about programs; it’s about changing the way we think, collaborate, and invest in our youth.”
The Foundation’s approach has been multifaceted, partnering with financial institutions, private sector players, and development organizations to create pathways for youth through financial access, skills training, market linkages, and entrepreneurship programs. Yet, as Bukenya pointed out, there’s still work to be done. Young entrepreneurs continue to face significant barriers, particularly when it comes to accessing land, capital, and technical assistance.
One of the most pressing challenges discussed was the financial hurdles young entrepreneurs face. Joseph Lutwama, Director of Programs at Financial Sector Deepening Uganda (FSDU), spoke candidly about the need for tailored financial products and improved financial literacy. “Without these interventions,” he said, “many promising business ideas fail before they even get off the ground.” Initiatives like the Micro, Small, and Medium Enterprises (MSME) Recovery Fund have provided some relief, but high collateral requirements and complex loan application processes remain stubborn obstacles.
Broader ecosystem challenges
The dialogue also shed light on the broader ecosystem challenges. Access to land and infrastructure, particularly in agriculture, continues to limit the growth of youth-led enterprises. But there are glimmers of hope. Innovative models like Heifer International’s block farming in Busoga and GOAL Uganda’s co-sharing initiatives are enabling young entrepreneurs to pool resources and improve efficiency. Meanwhile, institutions like Muni University, Uganda Rural Development and Training Institute (URDTI), and the NSSF Hi-Innovator Business Academy are equipping young people with the practical skills they need to thrive in the real world.
Policy reforms and digital transformation were recurring themes throughout the event. Streamlining business registration, introducing youth-friendly tax structures, and investing in digital infrastructure were all highlighted as critical steps to creating a more supportive environment for young businesses. Godfrey Byamukama, Assistant Commissioner at the Ministry of Finance, Planning, and Economic Development, reaffirmed the government’s commitment to these efforts in his keynote speech. But he also issued a challenge: “We need to shift societal attitudes toward entrepreneurship. It’s not a fallback option; it’s a viable and rewarding career path that can drive both personal success and national development.”
This sentiment was echoed by Immaculate Adongo, a young entrepreneur who has defied the odds to build a successful business. “Too many people see entrepreneurship as a last resort,” she said. “But it’s not. It’s the best opportunity we have to shape our future.”
The Mastercard Foundation’s impact is perhaps best illustrated through stories like that of Hellen Birungi, founder of Heb’s Organic, an eco-friendly beauty brand. Through the Foundation’s Hi-Innovator program, Hellen received financial support, business training, mentorship, and market linkages. Today, her business is thriving, with monthly revenue growing from US$190 to US$1,300. Her story is a reminder of what’s possible when young people are given the tools and opportunities to succeed.
Education is still key to growth
But entrepreneurship is just one piece of the puzzle. Education remains a cornerstone of Uganda’s future. With 78% of the population under 30 (UBOS, 2021) and over 1.7 million refugees and asylum seekers—most of whom are young (UNHCR, 2024)—the need for access to education, skills, and economic opportunities has never been greater. The Mastercard Foundation’s Young Africa Works strategy is addressing this need head-on, creating opportunities in high-potential sectors like agriculture, MSMEs, and the digital economy. These efforts align with Uganda’s Vision 2040 and the National Development Plan, which prioritize youth participation in economic transformation.
Since its launch, Young Africa Works has engaged over 3.8 million young people in Uganda, equipping them with skills and facilitating access to finance for business growth. Of these, 1.3 million have successfully transitioned into employment or enterprise, expanding their economic opportunities. The initiatives have also prioritized inclusion, ensuring that young women, refugees, and persons with disabilities are not left behind.
