Enterprise Uganda seals pact to promote youth entrepreneurship

By David Ssempijja

Enterprise Uganda, a local entrepreneurial development agency has sealed a partnership with The Prince’s Youth Business International (YBI) to boost the flow of business knowledge among the youth.

According to the YBI director Dianne Cornes, the partnership seeks to upscale Enterprise Uganda’s capacity to push for comprehensive enterprise development solutions to combat unemployment currently victimizing the young population.

“The unemployment levels among the youth are worrying, yet this is an age bracket comprising energetic people whose works would benefit their respective countries. YBI welcomes this partnership because it intends to create sustainable businesses for the youth,” she said during a signing ceremony held on Thursday at the residence of the Nakasero-based British High Commissioner to Uganda.

She revealed that the three year partnership will empower Enterprise Uganda deliver YBI’s proven package (model) of providing young entrepreneurs with a wide range of business knowledge in areas like; access to credit, business mentorship, business startup services, among others.

Uganda becomes one of the 32 countries benefiting from YBI network whose 2020 vision is to support 100,000 entrepreneurs each year, creating a cumulative total of over one million new jobs.

Founded in year 2,000, YBI is one of the many charity development projects spearheaded by The Prince of Wales; it’s an international network that helps disadvantaged young people to become entrepreneurs by providing business mentoring and funds.

According to the executive director Enterprise Uganda Charles Ocici, the organization had trained over 30,000 youths in business since 2007.

“We consider knowledge as a cardinal asset for business development and partnering with YBI is like standing on the shoulders of a taller friend to share a similar vision, with the support coming our way, we shall surmount the unemployment challenge,” said.

He added that the support will help in identifying 2,000 youth across the country per year, train them to positively change their mindset in view of business development.

The World Labour Organization puts the number of unemployment globally at 100 million and by 2015, there will be 3 billion people in the world under 25 years in the world.