Mastercard foundation together with their financial partners Equity Bank Uganda have launched a strategy dubbed the Young Africa Works.
This is a private sector-led consortium that aims to create 3 million jobs for Ugandans by 2030 with emphasis on women and youth, was launched at State House Entebbe on Thursday by President Museveni.
Speaking at the Launch, president Museveni welcomed that initiative, saying it is part of the National Development plan. He said the project will help wake up sleeping Ugandans.
“I welcome the initiative to Uganda, come and do more especially in the waking up of Ugandans who are asleep, if you can increase the sound of the bell, thank you,” Museveni said.
Museveni said he was happy that the initiative is in line with the NRM’s vision of creating a healthy, educated, and prosperous population.
“Access to finance, technologies and skills for the youth remains an important aspect in building capacity for key sectors of commercialization of agriculture, value addition through small to medium manufacturing enterprises, services and an overall healthy, educated and prosperous society. I congratulate the MasterCard Foundation for the work done across the world over the last 10 years and for choosing Uganda as one of the places to contribute since 2008,” Museveni said.
MasterCard Foundation Country Director Yalew Adela on his part called upon young people to take charge of the initiative as it belonged to them.
“This strategy belongs to you, young people, it is your strategy. We are here not only to make the launch but also to celebrate our story of partnership,” he said.
“We have engaged with the young people on what they are facing in their business. This has been instrumental in inspiring, sharing, and forming the Young Africa Works strategy,” he added.
Equity Bank Uganda Executive Director Anthony Kituuka reiterated the bank’s commitment to the initiative in terms of working with partners to deliver financial literacy and skills to entrepreneurs to grow their businesses.
“As Equity, we want to focus on creating opportunities in Agriculture, MSME, and around Refugees. But we also are the financial link between all partner members of this consortium to ensure financial inclusion and harmonized or coordinated approaches across Innovation, Education, and Agriculture,” he said.