Kampala, Uganda | Julius Businge | Beneficiaries of Tony Elumelu Foundation (TEF) have received good news from Uganda’s Prime Minister Ruhakana Rugunda. Rugunda who met the entrepreneurs recently at his office in Kampala led by United Bank for Africa management team discussed a possible partnership with the government of Uganda. The partnership would promote youth empowerment through entrepreneurship. The TEF beneficiaries in Uganda who recently formed a SACCO to enable them access funding to grow their businesses met with the Prime Minister to present their need for government support to further aid their support to economic growth. The Office of the Prime Minister pledged to offer all possible support to the TEF beneficiaries in Uganda through financial engagements to grow their start-up businesses beyond the boundaries of the country.
The support would grow their start-up businesses beyond the boundaries of the country. Johnson Agoreyo, the CEO and Managing Director of UBA Uganda said that the bank will continue to support the TEF fund beneficiaries through trainings and other needs. The TEF beneficiaries in Uganda have grown to 600, coming after Nigeria.
Rugunda expressed his gratitude to the Tony Elumelu Foundation and UBA for the support offered to the Ugandan entrepreneurs.
He thanked the entrepreneurs for being organised and forming a Sacco. He also informed the young entrepreneurs that the government already has institutions in place to resolve some of their financial problems – such as the Microfinance Support Center.
Beyond Uganda, the entrepreneurs are selected from 54 African countries, after submitting an online application. They are presented with seed capital, access to mentors and a 12-week business training programme.