The State minister for State Minister for Finance (Investments) Aston Kajara has asked investors in Uganda to support young entrepreneurs in boosting their businesses so as to improve on their welfare.
Kajara was speaking at a graduation ceremony of over 500 entrepreneurs trained by Warid telecom in Kampala on Dec. 14. The trainees were trained for five days on how to start and grow the business.
"We need to train better skills so that the youth can manage well their businesses," he said. "That way we will solve many problems in this country."
On average over 500, 000 youth graduate from universities in Uganda every year and only about 20% are absorbed into formal employment.
Kajara said oil companies like CNOOC, Total, Tullow and other companies like Hima Cement, Simba Telecom, MTN, Airtel among others should emulate Warid's example if the country is to solve the unemployment problem.
The minister said government is planning to pass a law enabling the youth to access credit at different levels of government administration. "This has been done in countries like Ghana, Botswana, we too can do it," Kajara said, adding we are studying the system and we will give it a go when we are ready.
"But the private sector should work with government to help entrepreneurs. Government alone can't succeed," he said.