PostBank to train SMEs on how to access appropriate technologies
PostBank Uganda in partnership with Federation of Federation for Small and Medium Sized Enterprises (FSME) have organised a specialised training for 500 small and medium enterprises across the country to get them market-ready and bankable including linkages to markets.
The initiative which will be conducted in partnership FSME under the theme “Yongela Ko Omutindo” is aimed at equipping SMEs countrywide with value addition, financial literacy skills, entrepreneurship, investment readiness, how to access appropriate technologies, product certification, branding and market linkages among others
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Post Bank has injected Shs 80 million into this activity, which will cover Kampala, Arua, Mbarara and Lira starting in about two weeks.
The managing director PostBank Uganda, Julius Kakeeto told the Nile Post that this year they decided to focus on the financial literacy and skills enhancement pillar, because of the many disruptions in the SME space.
"These disruptions were influenced by recovery from the Covid-19 pandemic and rise in the price of commodities among other related challenges. SMEs are critical to the growth of Uganda’s economy; therefore, we chose to invest in their sustainability and growth," he said.
He explained that the training will be done by experienced trainers from FSME, and each training will run for 5 days.
"We are a Bank that strongly believes in deepening social impact and generating value for all, hence our contribution of shs 80 million towards value addition training for SMEs. Today marks the start of an amazing journey with FSME, and I look forward to the many things we are yet to achieve together while empowering communities," he said.
The chief executive officer at FSME, John Walugembe revealed that each region will have a training specific to its challenges.
"For Arua, the training will be in post-harvest handling and packaging of honey and honey products. Lira will focus on good manufacturing practices, hygiene, and mandatory product standards by UNBS. Mbarara training will be on hygienic and quality milk production and diversification in dairy products and finally Kampala will be on quality, safe and value-added opportunities for farmer groups and mid-sized fruit dealers," he said.
Walugembe said about 11% of SMEs closed as a result of covid-19 lockdowns while over 20% sold off their household assets.
