The Chief Executive Officer of Uganda Development Bank (UDB) Patricia Ojangole has urged budding entrepreneurs in the country to get counsel from people that have experience and knowledge in the fields they are pursuing.
“Uganda’s budding entrepreneurs need to readily seek guidance and take advice from recognized professionals. Entrepreneurs need to adopt a culture of sustainability,” Ojangole stressed.
She was speaking at the 9th National Competitiveness Forum (NCF) held at Mestil Hotel in Nsambya, Kampala.
Patricia Ojangole, who has worked with some of Africa’s largest multi-national financial institutions for a number of years, in her presentation, talked about some of the flaws in the current Business Development Service (BDS) in Uganda and implications for sustainable enterprises drawing from practical experiences.
According to her, there is a need to regulate the sector in order to facilitate the delivery of tailor-made BDS initiatives that will support local enterprises, making them attractive to partners, bankers, and investors.
The National Competitiveness Forum (NCF) is an annual event organized by the Directorate of Economic Affairs (DEA) in the Ministry of Finance, Planning and Economic Development (MoFPED).
Since 2006, NCF events have helped shape policy interventions in Uganda’s development agenda, acting as a platform where the ministry and other stakeholders, including the private sector, civil society, development partners and academics gather and engage on matters affecting the business environment, drivers, growth, and competitiveness.
This year’s theme was ‘Creating an enabling environment for enterprise growth and competitiveness’.
Amongst its intended resolutions was to provide opportunities for participants to forge linkages in the business environment and to identify critical policy actions that shall help improve it.
This will boost enterprise growth and competitiveness, acting as a basis for advances in job creation, exports, and household incomes.
Other speakers included Allon Raiz (CEO, Raiz Corp, South Africa), Prof. Waswa Balunywa (Principal-Makerere University Business School) and Charles Ocici (Executive Director, Enterprise Uganda).
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