By Charles Katabalwa
06th Sept 2022
In the effort to support Small and Medium Enterprises (SMEs) recover from the effects of covid-19, PostBank Uganda has emphasised financial literacy and skills development as a requirement for revival of such businesses.
During the lockdown micro and small businesses experienced decline in businesses activity compared to medium and large firms Majority of micro and small businesses, particularly those in the service sector while others have closed forever.
Julius Kaketo, the managing director of PostBank says that it is necessary to enhance SMEs in Entrepreneurship skills and value addition to boost the quality of the products to attract a good market.
Over 500 SMEs are targeted from areas of Arua, Mbarara, Lira and Kampala and at least over Shs 80 million have been injected in this campaign according to Kaketo while speaking to the media shortly after signing an agreement with Federation of Small and Medium-Sized Enterprises Uganda.
John Walugembe, the executive director of the Federation of Small and Medium Sized Enterprises believes that the partnership will boost the SMEs in acquiring technical knowledge and market.
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