Private Sector Foundation Uganda (PSFU) on Thursday made 25 years since its formation in 1995. It’s 25 years of existence has changed the face of the private sector in the eyes of both government and foreign investors.
Speaking to the media at PSFU headquarters in Nakasero on Thursday, the foundation’s Executive Director Gideon Badagawa said the body was established to represent the interests of the private sector in Uganda through advocacy as well as capacity building.
“We are thrilled that over the past 25 years we have supported our members to improve business operations and competitiveness to support the overall private sector in Uganda,” he said.
Mr. Badagawa added that PSFU has supported the private sector through grants mechanism up to over USD1 billion to enhance skills, capacity building, and business development among others. This has been possible through the partnerships created with development partners.
According to Badagawa, PSFU has continuously and reliably provided support to its membership and the general private sector through policy advocacy, business development services, lobbying and research to ensure improved and favourable tax and business policies. PSFU has also broadened its scope to focus on strengthening institutional capacity for the betterment of its members, as well as promoting sustainable partnerships.
“PSFU has grown to become the main platform for dialogue with both development partners and Government and has a very strong advocacy position with Government. We have also Developed more strategic partnerships with over 10 development partners such as World Bank, European Union, UN in Uganda, GIZ, Mastercard Foundation among others to drive the private sector agenda,” he added.
Membership of the Foundation has also increased from 11 in 1995 to over 242 today and the membership is comprised of business associations, corporate enterprises and public entities that support private sector growth.
PSFU has also always conducted budget analyses which have always guided government on which priorities it must take. For example, the FY 2021 budget due to the analysis made by PSFU, 80 per cent of the private sector policy proposals were considered.
“As we celebrate the 25th anniversary, we plan to continue ensuring that members’ needs are met to a level that safeguards growth. This expected to be achieved through our new strategic plan that re-introduces a membership department and a re-fueled directorate of policy and business development which works very closely with the sectors,” Mr. Badagawa noted adding that “PSFU commits to building more partnerships with development partners and agencies (local & international) to contribute to competitive & sustainable private sector development.
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