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Home » News » Hon. Kadaga urges Uganda to tap into New Markets
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Hon. Kadaga urges Uganda to tap into New Markets

By Abigail MwesigyeApril 21, 2022No Comments
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First Deputy Prime Minister Rebecca Kadaga has urged the Uganda government and the private sector to focus on tapping into the DRC and West African market, as the East Africa Community integration process takes root.

“After meeting officials of the Africa Continental Free Trade Area (ACFTA) recently, I went to Cabinet of Uganda and I said I want to see the Prime Minister lead a trade delegation to West Africa. I also want the Ministry of Works to introduce cargo flights to West Africa,” Kadaga said.

She added that, “West Africa is so near….. many countries there do not even have vegetables or bread produced locally. There is so much more we can do, we need to take action to move there quickly.”

As Minister in charge of East Africa Affairs, she has also revealed that Uganda is ready to host the regional monetary institute and the Central Bank of East Africa. Her home country is competing for this right with Kenya, Tanzania and Burundi as the region prepares to have a single currency in 2024.

Kadaga was speaking Tuesday in Kampala, at a high level Private-Public Policy dialogue on the status of East Africa Community integration on investments and job creation held in Kampala, “to get the young person’s outlook on the status of the EAC and an overview on the future”.

The dialogue was organised by the Private Sector Foundation Uganda (PSFU) the apex body of the private sector in Uganda, in partnership with the Mastercard Foundation and Young Africa Works Uganda. It was attended by over 100 key members of the business community, young entrepreneurs, academia, media and public officials to generate solutions to addressing the issues constraining the performance of the EAC and her implications of investments and job creation for Ugandans.

Speaking at the same event, Stephen Asiimwe, Chief Executive Officer- PSFU said, “there are existing business opportunities that can be harnessed to support the growth of the economy and job creation. Presently, the ecosystem, the companies and SMEs continue to be negatively affected by some market restrictions which hinder their ability to expand and grow and create both direct and indirect work opportunities to the youth in the value chains.”

“Six weeks ago, we were in Nairobi with the East African Business Council and we drafted a common paper which is going to be presented at the Heads of State Summit to ensure that the private sector voice is heard before the president’s make meaningful decisions,” Asiimwe added

Private Sector Foundation Uganda (PSFU) is Uganda’s apex body for the private sector. It is made up of over 200 business associations, corporate bodies and the major public sector agencies that support private sector growth.

Since its founding in 1995, PSFU has served as a focal point for private sector advocacy as well as capacity building and continues to sustain a positive policy dialogue with Government on behalf of the private sector. PSFU aims to strengthen Private Sector capacity for effective policy advocacy and market competitiveness nationally, regionally and internationally. Regionally, PSFU is the national focal point for the East African Business Council (EABC) and the COMESA Business Council (CBC).

Private Sector Foundation Uganda (PSFU) is partnering with Mastercard Foundation to anchor the Young Africa Works strategy in Uganda. Under the Young Africa Works strategy by Mastercard Foundation, PSFU has designed and will implement the Lead Firm Structure Project for Youth Employment in Uganda.

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