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EU to help grow SMEs agribusinesses in Uganda

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Wednesday, 16 May 2012

EU to help grow SMEs agribusinesses in Uganda

Although Uganda is often considered a mainly agricultural country, its recent performance has been assessed as being “disappointing”. According to an article by New vision, a lack of financing in the sector is resulting in the country's not being able to reach its full potential and become a major agricultural power in East Africa. Experts point to investment in Small and Medium Enterprises (SMEs) as being beneficial  for farmers. Likewise, greater public spending in the sector and clearer policies could lead to a very noticeable improvement.
Accordingly, H.E. Ambassador Roberto Ridolfi, head of the European Delegation, has noted  the EU’s support to the efforts of the Government of Uganda in these areas. Notably, the EU,  along with other development partners,  is working with the country  to explore the possibilities of setting-up an equity fund for SME agribusinesses.

Source: New vision