SEATINI, MoFPED, BOU, FSME and Other Stakeholders Discuss Modalities for Extending Financial Support to Small Businesses

On 12th August 2021, the Ministry of Finance, Planning and Economic Development (MoFPED) together with Stakeholders including Bank of Uganda (BOU), SEATINI Uganda, Federation for Small and Medium Enterprises (FSME), representatives of Commercial banks and representatives met to discuss modalities for extending financial support to Small Business enterprises that have been severely affected by the Covid-19 pandemic and lockdowns.

This meeting followed a directive given by H.E President Yoweri Museveni, the President of Uganda to offer affordable credit (Ushs 200 Billion fund) for recovery of small businesses that have suffered the effects of COVID-19.

In April 2020, Government of Uganda put in place the economic Stimulus Package with an objective of supporting Micro, Small and Medium Enterprises (MSMEs) and other business enterprises that were hit hard by the pandemic and were struggling with major cash flow challenges.
SEATINI continues to undertake follow-ups on the available Stimulus Package towards making it work for MSMEs.