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KAMPALA, UGANDA | THE INDEPENDENT | The Private Sector Foundation Uganda has unveiled a Flagship Mentorship program dubbed “PSFU NextGen” and the annual Private Sector Gala, which will be held from December 5 – 6 in Kampala.
Uganda’s youth population, while a demographic advantage, faces significant challenges in finding employment, and starting and maintaining successful businesses.
According to the Agency for Accelerated Regional Development report, more than 9 out of 10 (91.9%) young people are employed in the informal economy, with salaried workers accounting for only 21.2% of the total labour force.
“With about one million young people entering the labour force annually, entrepreneurship has emerged as key for addressing the challenge of unemployment,” PSFU’s chief executive officer, Stephen Asiimwe said last week.
NextGen will be an annual program that seeks to enhance business development by providing practical mentorship, training, and networking opportunities for young entrepreneurs.
The program seeks to connect over 800 young business leaders with Uganda’s seasoned industry captains to foster entrepreneurial knowledge transfer regarding market size, financial planning, business plan development, innovation, and competition.
Asiimwe also announced the return of the 2nd edition of the PSFU Annual Gala, an exclusive networking and celebration dinner that brings together key industry leaders, development partners, government decision-makers, and private sector executives.
“During the PSFU Gala, we shall host the 9th edition of the Private Sector Development Awards that recognise the excellent performance by individuals, business associations, community groups, corporate companies, and government agencies in nurturing small and medium business enterprises in Uganda,” said PSFU Chief Membership Officer, Francis Kisirinya.
