Memorandum of Understanding signed by PSFU and the Microfinance Support Centre to offer technical support to SMEs

Memorandum of Understanding signed by PSFU and the Microfinance Support Centre to offer technical support to SMEs

On Tuesday, 16th October 2018, PSFU and Microfinance Support Centre (MSC) officially signed a memorandum of understanding to mentor and nurture SMEs through provision of support needed to develop their products and businesses up to a level where MSC is able to fund them.

Mr. John Peter Mujuni, Executive Director, MSC said, “I welcome this important initiative which formalizes and strengthens the existing relationship between PSFU and MSC. I look forward to continuing to build on our constructive co-operation in the interest of supporting SMEs.”

The agreement, in the form of a Memorandum of Understanding (MoU), formalizes the mutual interaction and strengthens the existing relationship between PSFU and MSC at the strategic and working level, focusing on supporting & growing our SMEs to ensure that in the long run they deliver towards bankable projects.

PSFU and the Microfinance Support Centre have a shared objective of promoting economic growth. This MoU provides for continued strengthening of future cooperation between the PSFU and MSC in collaborating to disseminate relevant information to support SMEs.

“There’s desire to contribute to greater development impact in our communities. Therefore, PSFU is ready to technically support SMEs and promote associations to drive competiveness in their projects.” Said Gideon Badagawa, Executive Director, PSFU.

The Microfinance Support Centre Ltd (MSC) is a state owned company mandated to manage micro-credit funds on behalf of Government of Uganda. MSC’s mission is to facilitate access to affordable financial services and strengthen management capacities of Microfinance Institutions and SMEs.

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