Minister Anite lauds Post Bank and FSME’s Agro-SME empowerment program
With over 5 million Ugandans employed by the SME sector FSME Executive Director John Walugembe highlighted the importance of these trainings and how much they contribute the country’s economic development.
By Michael Kanaabi Dollar
State Minister for Privatisation and Investment Hon. Evelyn Anite has lauded Post Bank Uganda and the Federation of Small and Medium Enterprises (FSME) for empowering Agro-based SMEs through their Gattako Omutindo initiative.
This initiative that began mid year has seen over 125 SME owners trained in value addition and financial literacy in the districts of Mbarara, Arua, Lira and Kampala.
Hon Anite said the initiative is in line with government’s plan of empowering SMEs and fostering economic development.
“You should use your newly acquired skills to grow your businesses and play a part in developing the country” She emphasized.
Anite added that the government has put in place the right environment for small and medium businesses to thrive which the SME owners should take advantage of.
Speaking on behalf of the beneficiaries during the closing ceremony held at the Uganda Industrial Research Institute in Nakawa , Joan Namugerwa one of the trainees said, “ The training has taught her how to cost her products competitively before going into the market so as to avoid losses which may result from a mismatch.”
Namugerwa added that as a result of the training their products will be of higher value in the market and properly priced too.
Post Bank CEO Julius Kakeeto in his remarks noted that the Gattako Omutindo initiative is in line with the government’s National Development Plan III which emphasizes value addition to agricultural produce. “It’s for this reason they chose to sink Shs. 80 Million into this training that was implemented by the Federation of Small and Medium Enterprises (FSME).”
The Bank has also experienced some positive growth during the past 3 years in spite of the pandemic with it’s balance sheet growing to about a trillion shillings and it’s assets doubling. This according to Kakeeto has put them in a better position to serve customers including SMEs better.
With over 5 million Ugandans employed by the SME sector FSME Executive Director John Walugembe highlighted the importance of these trainings and how much they contribute the country’s economic development.
“To improve the economic prospects of these SMEs we trained going forward, we broke them down into specialized categories based on location for these trainings. In Arua our training was focused on honey processing, in Lira it was on Maize milling, diary processing in Mbarara and value addition to fruits and vegetables for Kampala”
Looking ahead, Walugembe is positive FSME’S partnership with Post Bank will flourish and many more trainings to empower other SMEs across the country will be conducted over time.
