Local youth-led business ventures in Kampala and the neighboring areas of Wakiso and Mukono are set to benefit from a one-year free training and mentoring program sponsored by Dutch companies that is aimed at accelerating the growth and sustainability of local youth enterprises.
The Youth Enterprise program championed by Junior Achievement Uganda and Red Road Foundation is aimed at enhancing the entrepreneurial skills for the youth driven companies.
According to Keren Okuvuru, the Youth Enterprise Project Lead, the training will focus on businesses run by young (18-35) entrepreneurs with high growth potential in agri-business, services, or manufacturing sectors and have been in business for a minimum 2 years.
“Our aim is to accelerate local youth led businesses by training and mentoring through value addition and job creation,” says Keren. “We shall offer training and mentoring skills in financial management, informed decision making, record keeping and entrepreneurship skills.”
“We will use our contacts from different corporate institutions including banks to actively coach and support the youth entrepreneurs to finance their growth investments. When and if needed, Red Road Foundation will support in finding investors for soft loans or equity.” Says Lars Deneer, Program Director RRF. Red Road Foundation is a Dutch organization with an interest in working with young Ugandans to enhance their entrepreneurial skills.
Apart from the training and mentoring, 2 three-day networking business clinics will be held for mentees and mentors. The first clinic will be held in the course of the program while the second clinic will be held at the end. The clinics will be opportunity for the youth entrepreneurs, mentors and program partners to interact with each other and share experiences from the program.
“We have been challenged by the high level of youth unemployment in the country, motivated by the high level of youth startups yet concerned with the high failure rates. Therefore, it’s our joint wish to enhance the youth entrepreneurial spirit and promote job creation in Uganda through the Youth Enterprise Project,” emphasized Mr. Geofrey Wakhakunyu, CEO Junior Achievement Uganda.
“RRF believes in creating jobs by working with entrepreneurs who have a growth mindset by growing the entrepreneurial spirit of the youth thus creating as many jobs as possible in Uganda, “says Lars.
Local Youth Entrepreneurs have been encouraged to apply for the training through the Youth Enterprise page. The application deadline is 29th September 2018.