Uganda’s Minister of Science, Technology and Innovation, Elioda Tumwesigye has promised Small, Medium Enterprises (SMEs) government support to enable them grow their enterprises.
Elioda made the promise on Friday at Hotel Africana, while delivering remarks at an awards dinner hosted to honor the Top 100 Mid-sized companies.
“As government is developing the manufacturing on vehicles in Uganda, SMEs can take advantage by making spare parts like oil filters,” Elioda said.
He added, “We have secured land for science and tech parks courtesy of land offered by universities. The Private sector must work with universities.”
The minister also revealed that as Christmas gift to Ugandans especially manufacturers, government is set to unveil industry making machines.
The awards gala was a climax of the 2019 Top 100 mid-sized companies’ survey, to identify Uganda’s fastest growing medium sized companies in order to show case business excellence and highlight some of the country’s most successful entrepreneurship stories
It was sponsored by dfcu bank, Uganda Investment Authority (UIA), Monitor Publications Limited, ICEA and KPMG.
While addressing the same gala, dfcu Chief of Business and Executive Director , William Sekabembe, praised reitarated the financial institution’s commitment to, “growing and nurturing SMEs. We have a long history of nurturing SMEs. No bank in Uganda understands SMEs like dfcu.”
He also said that the fact that 20% of GDP contributed by SMEs, employs 2.5m people, presents a cause for purpose to grown the economy further.
“We are going to walk with you, nurture you as we grow more prosperous,” he said.
UIA Acting Director General Lawrence Byensi said SMEs should expect more support from the Uganda Investment Authority.
“Apart from supporting the Top 100 firms that compete for various awards for their performance, UIA is to avail more work spaces in the new industrial parks of Soroti, Jinja and Kasese,” he said.
The Pinnacle Award, the top most final Award of the night went to MS Cityside Investments Limited, an IT Solutions company.