Private sector role in national development, Presidential CEO Forum contribution

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OPINION

By Irene Birungi Mugisha

The private sector remains the backbone of any thriving economy.

In Uganda, it plays an indispensable role in driving national development through job creation, innovation, revenue generation, and strategic investment.

As a key engine of economic transformation, the private sector is central to the realisation of Uganda’s development aspirations, including the Sustainable Development Goals and Vision 2040.

Recognising this critical role, the Presidential CEO Forum (PCF) was established to foster structured engagement between the government and business leaders. The forum has since emerged as a catalyst for policy dialogue, investment mobilisation, and sustainable economic growth.

Private enterprises are the largest source of employment in Uganda. By establishing businesses across diverse sectors—from agribusiness to ICT—they reduce unemployment and improve household incomes, complementing government efforts to uplift livelihoods. These businesses also lead in capital formation, spearheading investment in industrial parks, technology hubs, and various value chains, thereby stimulating local production and exports while attracting foreign capital.

The private sector is also at the forefront of driving innovation. Through research and development, businesses introduce new technologies that improve productivity and enhance service delivery.

In today’s competitive global environment, this innovative capacity is essential for resilience and long-term growth.

Another significant contribution by the private sector is revenue generation. A majority of Uganda’s top taxpayers are private companies whose compliance strengthens the government’s capacity to provide public services and invest in infrastructure. This symbiotic relationship is essential to national development.

In addition, private enterprises play a critical role in building human capital. Through internships, apprenticeships, and customised training programmes, they equip the workforce with practical skills needed for today’s job market. Their investment in people not only improves employability but fosters a spirit of entrepreneurship and self-reliance.

Corporate social responsibility (CSR) is also increasingly embraced by the private sector.

From supporting schools and hospitals to undertaking environmental sustainability projects, private companies are aligning business success with societal impact. This contributes to improved community well-being and national cohesion.

It is within this broader framework that the Presidential CEO Forum operates as a high-level platform for constructive dialogue between government and private sector leaders. Guided by President Yoweri Museveni’s vision, PCF has played a vital role in championing policy reforms and driving Uganda’s economic agenda.

One of the forum’s notable achievements has been its contribution to policy advocacy. Through structured engagements and bi-annual retreats, PCF provides a space for business leaders to identify challenges, recommend reforms, and engage directly with policymakers. As a result, key proposals from the forum’s deliberations have been adopted and integrated into the National Development Plan IV (NDP IV) and the Programme Implementation Action Plans (PIAPs)—a major milestone that institutionalises the voice of the private sector in national planning.

PCF also promotes public-private partnerships (PPPs), which are instrumental in executing large-scale projects in sectors like agriculture, health, energy, and manufacturing.

Success stories such as Soroti Fruit Factory, Atiak Sugar Factory, and Mutuma Commercial Agency illustrate how strategic collaboration through PPPs can unlock value and scale impact.

The forum supports the deepening of Uganda’s capital markets and alternative financing models.

A key policy advocacy win has been the recent budget provision exempting income from private equity investments, reflecting PCF’s influence in driving progressive reforms that attract new financing sources.

Working closely with ministries, departments, and agencies, PCF actively identifies key sectors for development and engages in problem-solving to unlock private sector participation. These include agriculture, tourism, ICT, manufacturing, and mining.

By facilitating an environment of collaboration, PCF ensures that sectoral challenges are addressed in a coordinated and impactful manner.

The forum also supports innovation and entrepreneurship through mentorship, technical training, and access to capital for small and medium-sized enterprises (SMEs). It collaborates with training institutions to implement apprenticeship programmes aimed at strengthening leadership capacity and enterprise development.

President Museveni has continuously emphasised the importance of the private sector, stating: “The private sector is the engine of growth. The government must support, not compete with it. Our role is to provide an enabling environment and let the entrepreneurs drive the economy forward.”

This statement resonates with PCF’s commitment to ensuring the private sector is empowered to innovate, invest, and scale. The alignment between the Forum’s priorities and the strategic direction of NDP IV—particularly its focus on industrialisation, export development, and inclusive job creation—underscores the shared vision for Uganda’s economic transformation.

The private sector, empowered through platforms such as PCF, remains a critical driver of Uganda’s development. By building partnerships, shaping policy, and investing in people and innovation, the sector continues to play a fundamental role in delivering inclusive growth and long-term prosperity.

The writer is the CEO PCF