Two hundred Ugandans who returned from South Africa have completed a financial literacy and business formation training program aimed at equipping them with the knowledge and skills needed to rebuild their livelihoods and establish sustainable enterprises. The two-day workshop, held at Enterprise Uganda offices in Butabika, concluded on Thursday, October 15. The program was organised with support from Equity Bank Uganda as part of efforts to help the participants recover economically after returning home.
Charles Ocici, Executive Director of Enterprise Uganda, emphasized that successful reintegration required more than financial assistance, noting that returnees also needed to rebuild their confidence and develop a positive mindset towards starting over. He explained that entrepreneurial training could help participants identify viable business opportunities, manage their finances effectively and make informed investment decisions. Ocici highlighted the importance of recognizing that returnees still have skills, experience and the ability to build again.
The training focused on practical ways of establishing businesses, managing available resources and developing sustainable sources of income. Bob Paul Lusembo, Head of Micro Segments at Equity Bank Uganda, who represented Managing Director Gift Shoko, urged participants to start small and gradually grow their businesses through saving, proper planning and disciplined financial management. Lusembo emphasized the importance of financial knowledge, saving and business planning in helping entrepreneurs manage their resources and build resilient businesses.
Mathias Baguma, chairman of the returnees, welcomed the training, saying it had provided participants with practical knowledge and possible pathways to restart their economic activities. He noted that the training had equipped them not only with knowledge but also opened avenues on where they are to restart and how. The workshop comes as the government has committed Shs2 billion to the returnees’ savings and credit cooperative organisation (SACCO), with the funds intended to support members seeking to establish businesses and create income-generating opportunities.
The combination of financial literacy training and potential access to financing could help participants turn their business ideas into viable enterprises. However, the returnees will still need to overcome challenges such as accessing markets, securing appropriate financing and managing the risks associated with starting new businesses. Enterprise Uganda and Equity Bank Uganda hope that the training will have a positive impact on the lives of the returnees and their families.
The training program is part of a broader effort to support the reintegration of Ugandans who have returned from South Africa. The government and private sector organizations are working together to provide support to returnees, including financial assistance, training and business mentorship. The goal is to help returnees rebuild their lives and contribute to the economic development of Uganda.
The impact of the training program on the returnees and their families will be closely monitored. The success of the program could lead to the expansion of similar initiatives in the future, providing more opportunities for returnees to access training and financing.
Key points
- The training program covered financial management, entrepreneurship and business planning.
- The government has committed Shs2 billion to the returnees’ savings and credit cooperative organisation (SACCO).
- The program aims to help returnees rebuild their livelihoods and establish sustainable enterprises.
