Graduates told to form cooperatives

Aug 09, 2015

Graduates have been encouraged to form cooperatives as one way of pulling resources together for investment

By Francis Emorut                                                    

Graduates have been encouraged to form cooperatives as one way of pulling resources together for investment.


The advice was given by the minister of trade, industry and cooperatives, Amelia Kyambadde who noted that in terms of credit access, cooperatives are key for the young people to venture into business.

"There is need for you to form cooperatives and enjoy benefits that come along with it," Kyambadde said.

These have the ability to reap from the economies of scale and enable the pooling of skills that can generate a variety of economic enterprises.



Trade minister Amelia Kyambadde receives a plaque from Niklas Dahlberg, the programe manager of  Swedish Institute Alumni  during the first regional forum at Imperial Botanical Beach Hotel in Entebbe. Photo by Francis Emorut

The minister made remarks during the first regional forum for Swedish Institute Alumni at Imperial Botanical Beach in Entebbe.

The forum, organized by the embassy of Sweden attracted participants from Kenya, Uganda, Ethiopia, Rwanda, South Sudan, Malawi, Zambia and Tanzania who are recent Masters graduates sponsored by the government of Sweden.

Since 2007, over 200 Uganda graduates have been sponsored for Masters degrees in Swedish Institute in the disciplines of business administration, marketing and others.


The chief executive officer of Vision Group Robert Kabushenga (centre) receives a plaque from Esther Nakirulu, the Swedish Institute Alumni regional representative as the Ambassador of Sweden, Urban Andersson looks on during the first regional forum of Swedish Institute Alumni at Imperial Botanical Beach Hotel in Entebbe. Photo by Francis Emorut

Kyambadde called upon the overseas graduates to continuously improve their ability to be innovative, creative and maintain networks because these are key drivers of business success.

The minister told participants prospective areas of investment in Uganda are tourism, agro-processing, mineral processing and information communication technology.

She told the audience that government, through the National Development Plan, has formulated strategies to address entrepreneurial challenges and unemployment.

These include supporting entrepreneurship incubation through Uganda Industrial Research Institute (UIRI) and Makerere University and an enabling environment to promote quality trade and investment.


The minister of trade Amelia Kyambadde and the Ambassador of Sweden Urban Andersson posing for a group photograph with Alumni of Swedish Institute at Imperial Botanical Beach Hotel in Entebbe. Photo by Francis Emorut

She urged all the alumni from Nordic countries to transfer knowledge acquired to their respective countries and organizations to enhance economic and social development.

The minister commended the Swedish International Development Cooperation Agency (SIDA) for its continued support to Uganda in areas of capacity building in research, innovation and entrepreneurship.

The chief executive officer of Vision Group, Robert Kabushenga, encouraged the upcoming entrepreneurs to keep records of their business revenue.

He implored them to have financial discipline and not to misuse it to marry more women.

He urged African leaders to create enabling environment that would encourage students studying overseas to come back and make a contribution in the fight against poverty.

The Ambassador of Sweden, Urban Andersson pointed out that the forum was significant in that it would enable alumni of Swedish Institute to build entrepreneur networks.
 

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