Key stakeholders gathered in Kampala at the Mastercard Foundation’s Young Africa Works Dialogue on February 19, 2025, to discuss the challenges young entrepreneurs in Uganda face in starting and scaling new ventures. The event culminated in the release of recommendations for empowering the sector and a call to action for systemic reforms to unlock the full potential of youth entrepreneurship.
The dialogue, attended by over 350 participants at the Serena Hotel, featured a keynote address by Godfrey Byamukama, Assistant Commissioner, who represented Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury, Ministry of Finance, Planning, and Economic Development. He emphasized the need to bridge the gap between policy and practice, acknowledging that young people’s voices are crucial in shaping effective interventions. “The true measure of Uganda’s progress lies in how we empower our youth to lead its transformation. By breaking barriers to entrepreneurship and equipping them with the tools to succeed, we are not just building businesses—we are building a nation.” He also highlighted Uganda’s ambitious ten-fold economic growth strategy, which aims to expand the economy from $50 billion to $500 billion over 15 years, with youth entrepreneurship at the centre. The government is capitalizing wealth funds worth $1.31 billion (UGX 4.8 trillion), targeting young people, women, agriculture, and industrial transformation.
Uganda’s young people are widely recognized for their entrepreneurial spirit, playing a pivotal role in driving innovation and economic growth. According to the State of Entrepreneurship in Uganda 2024 Report, micro, small, and medium enterprises account for over 90 percent of private sector businesses and employ millions of Ugandans, making these enterprises a cornerstone of the economy. However, systemic barriers hinder young entrepreneurs, including limited access to finance, low business registration rates, limited market access, and a persistent digital divide. Addressing these constraints through targeted skilling, financial inclusion, and enabling policies is essential to unlocking the full potential of Uganda’s young entrepreneurs.
Adongo Immaculate, a participant of the Regional Universities Forum for Capacity Building in Agriculture at Gulu University and Founder of Fresh Picks Enterprise, reflected on the challenges young people face in accessing business support and skills development.
Young people do not lack potential; they lack access to the right skills and opportunities. The biggest mistake we continue to make as a society is that we train young people for a world that no longer exists.”
The young entrepreneur underscored the importance of embedding entrepreneurship training into education systems and ensuring that young people are prepared to seek employment and create their own opportunities.
The discussions reinforced the urgent need for improved access to finance, productive resources, and stronger peer-to-peer networks. Young entrepreneurs requested more information about opportunities within the broader entrepreneurship ecosystem. Additionally, they called for strengthened inclusive targeting for young people with disabilities and refugees, ensuring that interventions are tailored to their specific needs. Building partnerships that provide a range of services and programs, including mentorship, market access, and capacity-building initiatives, was highlighted as a critical step in advancing youth entrepreneurship.
Key Recommendations from the Young Africa Works Dialogue
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Expand access to finance by increasing youth-friendly financial products and alternative financing models.
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Strengthen peer-to-peer business networks and digital platforms to improve market access and knowledge sharing.
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Create a more enabling policy and regulatory environment that supports youth-led businesses and startups.
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Integrate entrepreneurship training into education at all levels to equip young people with practical business skills.
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Enhance inclusion by tailoring financial services, training, and market access for women, refugees, and persons with disabilities.
Access to finance remains a significant barrier for young entrepreneurs, mainly due to high interest rates, slow loan disbursement, and stringent collateral requirements. The dialogue explored alternative financing models, including grants, digital microfinance, and asset-backed lending, to ensure that young people, particularly women and marginalized groups, have greater access to credit.
For many young entrepreneurs, networks and collaboration play a vital role in sustaining businesses. Florence Naziwa, an agribusiness exporter and participant in the Foundation’s partnership with Ripple Effect, shared her journey of overcoming challenges in the sector, noting that while exporting can seem complex, it presents a viable economic opportunity for young people. “People may fear to join the export business because it seems complicated. But I would like to inspire more people to join. In life, a comma is not a full stop, so we must keep moving forward.” She emphasized the importance of linking young entrepreneurs to reliable supply chains and structured business support systems to ensure long-term success.
In his remarks, Adrian Bukenya, Country Director for Uganda at the Mastercard Foundation, reaffirmed the Foundation’s commitment to unlocking opportunities for young Ugandans through the Young Africa Works strategy. The initiative aims to enable 4.3 million young people—3 million of whom are young women—to access dignified and fulfilling work by 2030. He stressed that removing systemic barriers to youth employment and entrepreneurship requires deep collaboration between the government, private sector, and youth-led organizations.
“Uganda’s greatest asset is its young people. When they thrive, the country thrives. The task before us is to ensure that every young Ugandan—whether in the city or the village, whether starting a business or entering the workforce—has the chance to contribute to and benefit from the country’s economic growth. This is not just a vision but a responsibility we all share.”
Bukenya emphasized that achieving impact at scale demands ecosystem-wide collaboration and systemic transformation. He called for stronger public-private partnerships to ensure that skilling programs are linked to financing and market access, providing young entrepreneurs with end-to-end support—from training to enterprise growth.
The event underscored the need for stronger collaboration among government, private sector, and development organizations to expand access to resources, mentorship, skilling, and financing for young entrepreneurs. Participants emphasized scaling effective models and deepening partnerships to drive Uganda’s economic transformation without leaving any young entrepreneur behind.
