According to AllAfrica, SMEs employ over 2.5 million Ugandans, accounting for about 90% of the private sector.
Uganda Investment Authority groups SMEs into three categories, with the lower tier having micro-enterprises that employ less than 5 people and own assets below Shs10 million. In the middle are small enterprises that employ between 5 and 49 people and total assets between Shs10m but not exceeding Shs100 million.
At the top are medium enterprises, which employ between 50 and 100 people with total assets above Shs100 million but not exceeding Shs360 million.
Uganda also has a fast-growing startup ecosystem that has recently attracted funding from investment vehicles and programs bankrolled by accelerators like Y Combinator and multinationals like Google, Toyota Tsusho Corporation, and Gojek.
While launching the 2021 Top 100 SMEs Survey, the Chief Executive at DFCU Bank Mathias Katamba, citing Covid-19 challenges, urged business owners to embrace and incorporate technological advancements into their business operations.
“By harnessing the possibilities within digital transformation, SMEs can start the road to recovery, overcome logistical challenges and attain sustainable growth,” he said, according to Dfcugroup.com.
Through the Free Forever plan, Fuzu wants to enable SMEs and startups to digitize their hiring processes while eliminating the costs of setting up a human resource management unit.
With this free service, they are looking to widen the opportunities for job seekers and help companies that have been relying on a limited network of referrals to acquire top talent.
The company has been testing the product for the past five months and over 170 clients have already been onboarded in Uganda.
“Many thanks to the Fuzu team. I was able to secure a job at Pride Microfinance. Thank you, Alvin (Katto, Country Director, Fuzu Uganda) for all the help and support and Ann for the daily updates,” said a Fuzu user who was hired by a client on the Free Forever Plan.
The Fuzu Free Forever plan gives you access to over 1.5 million profiles of top talent with a self-managed service that lets you upload a job in minutes and shares it directly with the top 5000 relevant profiles. The platform also automates job description analysis and posts it to Google Jobs.
Fuzu, which officially launched in Uganda in 2018, says it noticed that current packages were a bit expensive for SMEs and startups. This is why it introduced the Free Forever plan on the Fuzu platform.
More about Fuzu
Fuzu’s AI-powered hiring platform is currently operating in Nigeria, Kenya, and Uganda, where the 7-year-old company has already onboarded over 1.3 million users and 1000+ companies with 5000+ job applications daily.
The company is making the hiring process more scalable and cost-effective by smoothing the transition from education to employment with modern technology.
With Fuzu’s next-generation tools, recruiters are now able to sort and rank candidates in a short time.
Fuzu has also secured partnerships with experts from top universities like Wharton, the University of Helsinki, and multinationals such as McKinsey, Bain, and Microsoft to augment the recruitment process using advanced psychometrics and skill-based tests.
This data and AI-driven approach is helping Fuzu understand job seekers at a personalized level, generating information and insights on the labor market in order to effectively serve the needs of job seekers and recruiters alike.