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International Partnership Mobilisation mission New York

As a follow-up to the High Level Side Meeting on Children at the 9th Commonwealth Youth Ministers Meeting (9CYMM) with the Secretary General of the Commonwealth, when the Uganda Children’s Endowment Fund concept to establish sustainable investments in Child-Sensitive Social Protection was endorsed, the New York and Brussels legs of our international partnership mobilization mission have now been concluded.

The team briefed Hon. Minister of Finance, Matia Kasaija, Hon. Minister Kutesa on the Public-Private Partnership Uganda Children’s Endowment Fund to see that Government of Uganda can support piloting a Child Support Grant as well as to support a regulatory ecosystem that will enable additional finances to flow from Uganda’s private sector, digital financing (i.e. mobile money services) and from international philanthropists and impact investors into the Endowment Fund.

UBS Senior Managers and their Partner Law Firm, Reed Smith

 The team met with UBS’s VP of Wealth Management, MD of Impact Investing, MD and Chief Business Officer, and Head of Sustainable Financing, all of whom were positive about the Public-Private Partnership Uganda Children’s Endowment Fund noting that it is a unique initiative in that it is taking a sustainable, system-wide innovative financing approach which, to their knowledge, has never been done before.

They noted they are interested in supporting, including providing technical expertise on the set-up and management of such a fund, and leveraging their vast networks of high net worth individuals and partners to invest in the fund.

UBS noted that “if any organization is well positioned to put the pieces of this puzzle together it is UBS considering our vast sustainable and impact investing expertise and range of partners we have.”  

To discuss the finance structuring of the Fund, including all of the different blended finance streams (i.e. national budget, pooled private sector resources, pooled digital finance resources, development partners, philanthropists, social impact investors, etc.), UBS convened two meetings with one of their partner law firms, Reed Smith, who brought several of their partners and lawyers to discuss the initiative.

Reed Smith expressed a keen interest in being involved, especially in determining the finance structuring of the fund as well as the regulatory ecosystem to attract investments in each of the identified financing streams.

Senior Officials at UNICEF HQ

The team met with UNICEF’s Deputy Executive Director for Partnerships and External Relations, Justin Forsyth, to brief him on our innovative financing initiative.  The UNICEF DED noted that the initiative’s focus on children was commendable and that it could be interesting to explore beyond Uganda as long as it is proven in Uganda first. 

In response to comments by the ED of PSFU who noted that matters of children shouldn’t just be left to the Government and the Private Sector has a role to play, especially in pooling resources that will have a significant impact on children realizing their full potential, the UNICEF DED noted that it is no longer about Corporate Social Responsibility (CSR) rather ‘Shared Value’ with the power of business – their marketing power, products and supply/value chains – being harnessed to protect and promote children’s rights and for social good.

The team also met UNICEF’s Chief of Global Philanthropy who convened a meeting with the Director of Social Finance UK to brainstorm on how to structure the investments over the next several years, including from Government, philanthropists and social impact investors.  They noted that they would be interested to have further meetings to explore this.

They also met UNICEF’s Head of New Aid Modalities who noted that Islamic Finance via the Islamic Development Bank could be an interesting option.  She noted that right now is the perfect opportunity to bring Uganda in as a pilot.  She also noted that the World Bank’s Global Concessional Financing Facility on Refugees, which is currently only targeting the Syrian refugee crisis, is an option to explore as they are looking at expanding it beyond the Middle East.  Lastly, she noted that the African Development Bank could be interested and could help to structure the Endowment Fund and could attract investors as they have access to investors and are more neutral than a commercial bank.  In conclusion, it was agreed that the team should convene the Islamic Development Bank, African Development Bank, and World Bank to work out the blended finance structuring and investments.

The mission team also met UNICEF’s Deputy Director of Communications and several members of UNICEF’s Division of Communication.  They presented the #InvestInUGChildren: Realize Uganda’s Vision 2040 narrative to which the Deputy Director commended and noted this as a best practice for other countries.

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2nd East African Business & Entrepreneurship Conference & Exhibition 14th to 16th November 2017

The upcoming 2nd East African Business & Entrepreneurship Conference & Exhibition is scheduled for 14th to 16th November 2017 in Dar Es Salaam.

EABC members have been offered a discount as below;

Attendance Fee: USD 400

Exhibition Fee: USD 1,200 this includes full participation of 2 delegates and provision of standard booth

For more information send an email to communications@eabc-online.com

 

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61 Private Sector Associations awarded grants under SDF window 2

Skills Development Facility (SDF) project received over 1,000 application for window 2. This window targets self employed workers and apprentices in the formal sector, master craftsmen, micro and small enterprises and members of cooperatives and association.

The first call was well received and in response to that, SDF has awarded the first batch, 61 grants to Private Sector Associations who will be targeting over 6,000 beneficiaries representing 20 districts. More will receive grants in the next batch soon.

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Uganda delegation in New York to attend the UN Annual General Assembly

His Excellency, President Yoweri Kaguta together with other delegates from the Ministry of Finance, UNICEF Uganda, and PSFU’s Executive Director, Mr. Gideon Badagwa will be attending the United Nations Annual General Assembly. His Excellency will be making an address to the Assembly as part of the international mobilization campaign for children’s endowment fund which UNICEF, PSFU, and Ministry of Gender are spearheading.

The team will have an opportunity to meet the UNICEF Management during the investment forum to discuss possibilities of international development partnerships.

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SDF trains individual External Evaluators

Ms. Ruth Musoke, Head – Skills Development Facility hosted individual external evaluators to a two day training session. The training was held at Hotel African on 4th & 5th September 2017 and there were about 15 evaluators, and some representatives from the World Bank, consultants from Austria and business synergy reps in attendance.

The training aimed at sharing information with participants on what their role and responsibilities will be, as well as an induction of the SDF project specifics

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Private Sector Foundation Uganda attended the Economic Growth

Private Sector Foundation Uganda attended the Economic Growth Forum organized by the Ministry of Finance, Planning and Economic Development at Munyonyo Commonwealth resort on Thursday, 14th & Friday, 15th September. Our participation was to engage in the discussions on the state of Uganda’s economy and various thematic areas such as determinants of economic growth, agriculture, domestic revenue mobilization, trade, infrastructure and public investment, population and inclusive growth and urban productivity as a growth enabler.

The key note address made by Hon. placed emphasis on Industrial and Agricultural development and domestic revenue mobilization in order for Uganda to achieve an increase in its growth rates.

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Uganda Insurers Association overall winner at the Private Sector Dev’t Awards

We hosted the 7th Private Sector Development Awards on Thursday, 14th September at the Royal Suites, Bugolobi. The purpose of the award is to promote good governance, association management, leadership, corporate social investment, innovation and women economic empowerment within the private sector.

The award is intended to motivate good business practices by recognizing those doing well and encourage the entire private sector to be responsive to good governance.

All registered businesses or professional associations, community development groups, cooperatives or any form of network groups and companies were eligible to participate in the nomination process according to the various categories.

Nine (9) Government agencies were selected on the basis of the services they offer to the private sector, and Uganda Registration Services Bureau emerged the winner under this category

PSFU constituted a secretariat with the mandate of the Panel of Judges to score the selected nominations, and held interviews to further assess the nominees’ capability in aspects like Governance, Innovation, Impact of CSR activities, Measurement of CSR impact, Ability to influence other private sector players in the same industry.

“I’m intrigued by the business champions for young children – corporate companies investing their resources to improve the health, education, and safety of children is encouraging. Investing in children is a top priority for Government.” Stated Hon Minister of State for Trade Hon Michael Werikhe.

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