Private Sector Foundation Uganda (PSFU) has entered into a Memorandum of Understanding with (MOU) with Buganda Kingdom to develop a corporation that will promote the business entities within Buganda Kingdom. The two parties shall explore modalities of collaboration, information sharing and working together to organize events, expos or trade fairs. They will also explore modalities of using their strategic resources to support business in the Kingdom to achieve enterprise growth, job creation and increased income while leveraging on the programmes managed by PSFU.
The signing ceremony was done at Bulange Mengo on 9th March 2016 by Mr. Gideon Badagawa Executive Director PSFU and Owek. Robert Waggwa Nsibirwa Minister of Finance Investments Planning and Economic Development. This was done in the presence of the Katikiro of Buganda Owek. Charles Peter Mayiga, Ministers from Buganda Kingdom and distinguished delegates from Private Sector Foundation Uganda (PSFU).
The Katikiro of Buganda Owek. Charles Peter Mayiga, thanked PSFU for the initiative and promised that the Buganda Kingdom will strongly work with PSFU to promote business, that will lead to competitiveness in the Buganda Kingdom. He noted that this partnership will also enable the Kingdom achieve its five-year business strategy.
The Katikiro called on the business people in the Buganda Kingdom to form partnerships and cooperatives that will enable them achieve more. “There is need for more investment in the Agricultural sector which employs more than 70% of Uganda’s population.” The Katikiro said.
Mr. Gideon Badagawa Executive Director PSFU thanked the Buganda Kingdom for the partnership and promised to support business competitiveness through various sectors. He called on the business people in Buganda Kingdom to use the opportunity to develop their businesses to enable them compete locally, regionally and at the international level.
Through this MOU, the businesses, cooperative groups and people living in Buganda will benefit from the various trainings, capacity building programs and access to grants managed by PSFU. The Kingdoms Partnership Unit in Buganda Investments and Commercial undertakings Ltd (BICUL) will work with the Kingdom Ministries and PSFU to ensure successful implementation of the various programs.