Foreign Investors Won’t Solve Uganda’s Problems – Rugasira

The founder of Good African Coffee, buy Andrew Rugasira has raised concern over the rate at which Small and Medium Enterprises (SMEs) in Uganda are collapsing at the time.

The renowned entrepreneur argues that there has been less effort made to empower indigenous businessmen as much effort has been put on attracting foreign investors.

Rugasira made the remarks on Sunday morning during a media round table held at the Kampala Serena Hotel where he also declared his bid for Presidency of the Uganda Chamber of Commerce and Industry (UNCCI)

“The mortality rate of SMEs in Uganda is between 80 to 90 percent. Businesses will continue to collapse if there is no agitating force pumping them up and empowering them, advice ” he said.

“Government cannot solve all our economic problems, patient however, a well-organized, effective and respected chamber (UNCCI) can play its role and make a significant contribution to our economy.”

He noted that UNCCI, the oldest private sector body in Uganda has become institutionally ineffective and has fundamentally failed to deliver on the expectations to its members.

“The chamber’s voice in championing pro-business issues is absent and also lacking is a robust contribution to government policy.”

“Politicians are unable to complete business dealings. The private sector needs to come in to advise government and that is the fundamental role of which the chamber has neglected currently.”

Rugasira poses with other economists after the media round table at Kampala Serena Hotel
Rugasira poses with other economists after the media round table at Kampala Serena Hotel

Rugasira said that if selected to lead the UNCCI, he will focus especially on enterprise development in Uganda which he said will help solve the country’s economic problems.

“Foreign investors are not going to solve our problems. People only invest in your home for their own benefit and when things go bad, they will run away. It’s only the indigenous enterprises that will stay even when times are hard.”

He outlined a seven-point program that he will undertake once voted as the president which includes Strengthening the chamber leadership, Growing and strengthening chamber membership, Focusing on enterprise development, strengthening linkages and partnerships, supporting government, focusing on the youth and rebuilding the chamber brand.

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