Author - Kathryn

Private sector engagement through development co-operation: A case of Uganda

The 2030 Agenda for Sustainable Development, with 17 Sustainable Development Goals (SDGs) is a comprehensive, ambitious, transformation and universal agenda, which has started to be implemented since 2015. Recognizing the complexity of the agenda, the 3rd International Conference on Financing for Development in Addis Ababa (June 2015), preserved a comprehensive approach to financing development-appreciating the role that various players can play, including the private sector in achieving the SDGs. The Government of Uganda is aware that effectively implementing Agenda calls for more inclusive development cooperation involving all stakeholders.

The Global Partnership for Effective Development Co-operation(GPEDC), a partnership of multi-stakeholders- gov-ernment, private sector, civil society, international organizations and donors and others, encourages effective de-velopment cooperation in support of sustainable development. GPEDC, as one aspect of its work stream gathers evidence on how private sector engagement through development cooperate – financial and otherwise. PSE through development co-operation is defined as: An activity that aims to engage the private sector for development results, which involve the active participation of the private sector.

The validation workshop hosted at Imperial Royale hotel, Kampala championed by UNDP shared the findings of the report to all stakeholders with the view to refine the findings and recommendations. In addition, the organisers of the workshop aimed at creating a platform for discussion to examine the most pressing concerns for private sector engagement in Uganda and discuss the so-lutions multi-stakeholders can recommend.

Find the report here >> Case for Uganda

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Private Sector statement on the budget strategy 2019/20

The Government has been urged to adopt strategies to improve efficiency in budget performance. This call was made by stakeholders from private, public and civil society organisations who were hosted by Ministry of Finance at Kampala Serena Hotel on Thursday, 13th September 2018

Currently, at the top of private sector’s concern are the effects of political activities both within the Country and in the region, such as South Sudan which have to a large extent constrained private sector investment decisions.

“When the economy is stable and growing almost at 6% the intensity and prevalence of poverty is growing at 25.8% and 9.8% in the rural and urban areas respectively. This puzzle must be addressed because then it shows that the Country is still lagging behind in job creation. The celebrated growth is not translating into income and hence purchasing power for the bigger part of our population.” Said Gideon Badagawa, Executive Director PSFU

Hon. Matia Kasaija, the Finance Minister, said the 2019/20 budget strategy will seek to consolidate and enhance interventions that have been implemented over the last few years. He said the strategic focus, therefore, remains in achieving industrialization based on agriculture and mineral potential to ensure inclusive growth and the creation of jobs.

For more on the private sector statement, click here

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China commits USD 60Bn to finance Africa’s Development

China has promised to avail Africa with USD 60Bn to support the Continent’s Development Financing. This commitment which of the majority will be in credit lines was announced by Chinese President, Xi Jinping on Monday, 3rd September 2018 during the China-Africa Cooperation Forum happening in Beinjing, China

President Yoweri Museveni is in attendance together with a business delegation led by Mr. Patrick Bitature, Chairman Private Sector Foundation Uganda

More details: https://www.softpower.ug/china-commits-usd-60bn-to-finance-africas-devt-xi-cautions-on-vanity-projects/

 

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The Global Logistics Convention (GLC):17th – 18th September 2018 at Sheraton Hotel Kampala

The Global Logistics Convention (GLC) is an annual freight logistics event of the Federation of East African Freight Forwarders Associations (FEAFFA). This year, the convention took place in Kampala, Uganda. UFFA, NLP and The Ministry of Works and Transport were privileged to host the second edition of the GLC.

The event offered a unique opportunity for participants to share best practice in trade and policy, facilitates engagement with a wide range of stakeholders, and provided awareness on the changing roles, responsibilities and emerging trends in the Industry as a driver for productivity and competitiveness through the interactive panel discussions.

The convention covered areas of professionalism in the sector, logistics and environment, the role of financial institutions, insurance firms and their level of engagement in the sector. Discussions on the impact of emerging technologies and several other dynamics that we as an Industry need to embrace to enhance competitiveness were hosted by various expert speakers .

For more details on the convention: visit https://globallogisticsconvention2018.com/

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Creating perspectives: Call for applications

Creating Perspectives: Business for Development (East Africa)

To better cope with ongoing industrial transformation processes and a further increase of global business international strategic partnerships have to be strengthened. This is the intention of “Creating Perspectives”, an initiative of the East African Community (EAC), the East African Business Council (EABC), the Federation of German Industries (BDI) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on behalf of the German government represented by the Federal Ministry for Economic Cooperation and Development (BMZ). Partnerships between East African and German companies to jointly create business opportunities is the key objectives of Creating Perspective, based on a mutual network.

To turn this idea into practice, the initiative seeks to identify companies in the EAC region operating in production or manufacturing in various sectors interested to enter global partnerships with German peers. The companies should be active on the market for about 3 years or more, have an annual turnover of USD 50,000 to USD 5,000,000 and at least 10 employees.

Click here to Apply Now

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Ugandans Told to Treat Counterfeit Goods with Contempt

ANTI COUNTERFEIT: 1ST STRUCTURED CEO DIALOGUE

 On Thursday, 16th August, The Anti-Counterfeit Network (ACN) in partnership with Private Sector Foundation Uganda hosted CEOs, Legal and Corporate A­ffairs Directors and Brand Protection Agencies to the 1st CEO Structured Dialogue to discuss the effect of counterfeits on the economy and to chart a way forward for Uganda. This dialogue was hosted at Kampala Serena Hotel.

The dialogue aimed at identifying and devising as well as bridging intervention gaps that enable proliferation of counterfeit.

Under the theme “finding solutions to the counterfeit problem”, the dialogue was designed to allow Civil Societies, brand owners, regulators, customs and commercial diplomacy leaders to submit and present meaningfully addresses to the topic. The prevalence of counterfeit products, services and sub culture in Uganda and the region is a growing threat to genuine business, foreign direct investment, employment and the public health

Mr. Patrick Bitature during the dialogue stated that all Ugandans must reject counterfeit goods if this fight is to be meaningful. We must stop treating this counterfeit issue as a simple & normal issue, and yet it’s a cancer that is eating up our economy.

“Counterfeits affect all of us; it affects the private sector, the government and everyone globally. We cannot leave the fight against them to only government, this needs our combined efforts.” Said Mr. Bitature

2018 Counterfeit Resolutions:

As the private sector we need to support the implementation of these interventions aimed at combating the counterfeit menace;

Legislation: Strengthen intellectual Property, Anti-counterfeiting, standards and other related laws so as to create an effective, robust clear and harmonized legal regime.

Regulation: Ensure that regulatory bodies account for their statutory mandate and act in concert with each other to ensure coordinated and systematic implementation of anti-counterfeit and/or standard related laws

Enforcement: Building effective, consistent and multi-agency investigation and enforcement capacity with the understanding that illicit trade is organized and swift crime

Technology: Ensure the development, sourcing and deployment of technology to assist Government, Businesses and Consumers to trace and monitor counterfeit and illicit goods in order to inform decision making

Communication: Sensitization and benchmarking of best practices through mass communication campaigns, dialogues, competitions, trainings of all stakeholders in order to deter consumption of and trade of counterfeits and substandard goods

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Bank Of Uganda Maintains CBR At 9% As Inflation Goes Up

Bank of Uganda has announced that it will for the fourth month in a raw maintain  the central borrowing rate (CBR) at 9% aimed at stabilizing the commercial lending rates.

This was revealed by the BoU Governor Emmanuel Mutebile on Monday 13th as he released the monetary policy statement for August 2018.

Mutebile further noted an increase in inflation for the month of July 2018 up to 3.1% from the 2.1% registered in June.

This increase is believed to have resulted from the newly imposed taxes like fuel excise tax and one off-off price changes from communication taxes, global oil prices and the depreciating shilling against the dollar.

According to Mutebile, the annual core inflation also rose from 0.8 in June to 2.5% in July 2018.

However the annual food crops inflation remained subdued with a slight decline from 2.3 in June down to 2.0% in July.

“The weaker shilling exchange rate combined with higher oil price assumptions could result in a more elevated inflation trajectory. Food prices are projected to remain low in the forecast horizon and are not seen as a major risk to the inflation outlook, but this can quickly change depending on the weather conditions,” said Mutebile.

Despite the economic challenges, the Governor cited that the country’s economic growth continues to strengthen.

“The real Gross Domestic Product (GDP) growth for FY 2017/18 is estimated at 5.8 percent compared to 3.9 percent in FY 2016/17. Economic growth is projected to strengthen further in FY 2018/19 to 6 percent and to an average of about 6.3 percent over the medium-term supported by public infrastructure investments, improving agricultural productivity, recovery in Foreign Direct Investment (FDI), and strengthening private sector credit (PSC) growth partly as a consequence of the monetary policy easing,” he said.

He added; “Indeed, weighted average lending rates fell to 17.7 percent in June 2018 from 25.2 percent in February 2016 when Bank of Uganda (BoU) started easing monetary policy.”

Nevertheless, there are downside risks to the growth outlook including challenges relating to financing of public investment programmes and the weak external balance position coupled with escalation of global trade tensions.

Although public investment programs could substantially raise output and be self-financing in the long run, transitional challenges of funding these investments can be formidable, and may crowd out private investment and consumption, thus delaying the growth benefits of public investment.

Inflation is forecasted to continue rising in the range of 6-7% in the second half of FY 2018/19 but will stabilize around the medium-term target of 5 percent by end of 2019.

He noted that a key risk to the inflation outlook is the shilling exchange rate which remains vulnerable to domestic market conditions and the possibility of tighter global financial conditions and food prices being projected to remain low in the forecast horizon, which are not seen as a major risk to the inflation outlook but rather determined by changes in the weather conditions.

The Central Bank has over the years done a leading role in maintaining a neutral monetary policy stance so as to keep inflation relatively close to a 5% target, which is projected to contribute to attaining the Country’s sustainable economic growth.

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Fraudulent job offer alert: Instances of fraudulent job offers by parties masquerading as PSFU

Fraudulent job offer alert

Instances of fraudulent job offers by parties masquerading as PSFU and using names of actual employees within PSFU has been reported to us. The job offers are typically supported by forged documents and interested jobseekers are being asked to provide personal data and/or to cover expenses for the recruitment process.

Please note PSFU will never ask for advance payments during the recruitment process, will never provide unsolicited job offers as first point of contact and that job offers will always be based on a formal recruitment process.

If you are applying for a vacancy at PSFU, for your security, please use the online portal www.psfuganda.org/opportunities

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13th PSFU Trade Facilitation Expo set for 3rd to 5th September 2018 at UMA, Lugogo

The Private Sector Foundation of Uganda (PSFU) is set to host the 13th trade and facilitation expo from 3rd to 5th September 2018 at UMA Show grounds, Lugogo

The trade facilitation expo is an annual event that brings together different private sector and public sector players from across the globe to share information, learn and network.

This year’s event will be held at the Lugogo Show Ground in Kampala under the theme ‘Business Competitiveness through improved skills, Innovative, financially and value additions in value chains’.

During the press conference held at the PSFU offices, on Tuesday, 7th August, Mr. Gideon Badagawa, Executive Director PSFU said this year’s expo will focus on providing information to small and medium entrepreneurs that will help them to improve their competitiveness on the local, regional and global market.

“The expo presents an opportunity for Uganda to host a number of respectable businessmen and women across the globe to provide information, networking and capacity building for the country’s importers and exporters by bringing them together to interact with Uganda’s major trade partners with the leading providers of trade facilitating service,” Badagawa said.

He further explained that Uganda’s small and medium business sector remains underdeveloped because of mainly lack of standardized goods and under productivity of labour.

“Registration and formalization of businesses is very crucial for business development. The other important factor is improving the standards of our products. Only then will we be able to compete on the global market,” he said.

The expo will host government trade facilitation agencies, ambassadors from different countries that Uganda trades with and other business facilitators.

Among other objectives, this year’s expo is aimed at promoting business linkages between small and big companies, enable information access and sharing by different government agencies, enable trade attaches at diplomatic missions and embassies of Uganda’s leading trade partners and enabling PSFU members to understand the new structural operations of PSFU.

The expo will be hosted by PSFU in partnership With URA, URBRA, Kenya Ports Authority, Harris International, Bank of Baroda, Ministry of Trade and many others.

Book your stall today – call Kathryn on 0785 464 282 or at klmusoke@psfuganda.org.ug

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Mobile money tax: shrink in transactions hurting the economy

Private Sector Foundation Uganda together with some of its members met with the Parliamentary Committee on Finance on Tuesday, 7th August and advised the Committee that the debate on Mobile Money should continue until a comprehensive and unbiased study is done on the effects of the tax on the Country’s economy visa vie its benefits.

According to Mr. Moses Ogwal, Director, Private Sector Development, there has been a very evident impact of the law barely two weeks after implementation where the turnover on Mobile Money has reduced by 60%. He advised that it would be better for Government to avoid taxing Mobile Money users rather consider sharing revenue with telecommunications companies by stepping up the excise duty from 15% to 17.5%. He further emphasized that the tax discourages financial inclusion. The private Sector argued that Telecom companies cannot shift the entire tax to the Mobile money users since they are also working towards attracting more customers to the service.

“We may be excited about how much we are going to get as revenue, which may not collect, but also we should not act at the cost of business growth” Stated Mr. Gideon Badagawa, ED PSFU

More details; https://www.softpower.ug/mobile-money-tax-shrink-in-transactions-hurting-the-economy-says-private-sector/

 

 

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