Uganda is seeking to shift its wealth creation programmes from simply increasing the number of beneficiaries to building sustainable, competitive enterprises capable of creating jobs, adding value and expanding exports, officials have said.

The call was made during the 17th National Competitiveness Forum held at Serena Hotel in Kampala under the theme, “From Funds to Firms: Turning GoU Wealth Creation Initiatives into Competitive Enterprises for Uganda’s US$500 Billion Economy.”

State Minister for Privatization and Investment Aminah Mukalazi said Uganda’s wealth creation programmes should focus increasingly on helping household enterprises grow into sustainable businesses rather than measuring success primarily by the number of people who have received support.

Mukalazi said household enterprises need to be organised into value chains linked to anchor companies, aggregators, processors and exporters, with producers having clearer access to markets, standards and prices.

She said competitiveness must translate into the ability of Ugandan businesses to produce quality goods that can meet the requirements of domestic, regional and international markets.

This, she said, requires greater attention to certification, packaging, traceability, branding and access to markets under the East African Community (EAC), the Common Market for Eastern and Southern Africa (COMESA) and the African Continental Free Trade Area (AfCFTA).

“We must now become just as good at building firms,” Mukalazi said, arguing that too much Government support still ends up in small, scattered and isolated activities.

She said Uganda’s ambition of building a US$500 billion economy should involve millions of households participating in organised value chains rather than producing in isolation.

Permanent Secretary and Secretary to the Treasury (PSST) Dr. Ramathan Ggoobi similarly said Uganda has succeeded in creating millions of enterprises, but the next challenge is helping them grow into resilient and competitive firms.

Dr. Ggoobi said Uganda is building on stronger economic fundamentals, with the economy growing by 6.4 percent last year and exports expanding significantly.

According to the figures he presented, Uganda’s exports increased by about 229 percent over four years, rising from US$5.6 billion in June 2022 to US$18.4 billion.

He said Government is also using economic and commercial diplomacy through Uganda’s foreign missions to help unlock international markets and attract investment as the country seeks to expand export opportunities.

Dr. Ggoobi identified the continued export of raw rather than processed products as one of the challenges limiting the returns Uganda receives from its production.

He said greater value addition is therefore necessary if Ugandan producers are to earn more from goods sold locally and internationally.

The Treasury chief also said international markets, including those in the European Union, United Kingdom, Middle East and Asia, would not lower their sanitary and sustainability requirements to accommodate Ugandan producers.

Ugandan businesses, he said, must therefore organise themselves and improve production systems to meet the standards required by international buyers.

Working capital remains another challenge, the PSST said, pointing to the need to address access to financing so that businesses can expand their operations.

He also called for greater aggregation of Uganda’s fragmented production so that enterprises can consistently supply the volumes and standards demanded by international buyers.

Dr. Ggoobi said the 17th National Competitiveness Forum should result in practical actions, with recommendations from the discussions expected to inform the FY2027/28 budgeting process.

Finance Minister Henry Musasizi also urged businesses to use Government’s wealth creation and affordable financing initiatives to build larger, profitable and export-oriented enterprises as Uganda pursues its US$500 billion economy target by 2040.

Musasizi said the Forum is aligned with the ongoing FY2027/28 budget consultations and that proposals arising from the discussions would inform future budget prioritisation.

He said Uganda needs to do things differently under the Fourth National Development Plan (NDP IV) and the Tenfold Growth Strategy by sustaining economic growth of about 8 percent annually over the medium term, increasing productivity, formalising businesses, creating productive jobs and improving household incomes.

“The challenge we must address going forward is how to significantly increase productivity,” Musasizi said, stressing the importance of productivity in sustaining economic growth and creating productive employment.

The Finance Minister said Government has invested in catalytic financing intended to de-risk private investment and expand access to affordable capital.

By June 2026, Government had provided Shs4.4 trillion under the Parish Development Model, about Shs760 billion under Emyooga and Shs1.35 trillion through the Agricultural Credit Facility, which had reached 14,000 projects and beneficiaries, according to figures presented at the Forum.

Government had also capitalised Uganda Development Bank to Shs1.6 trillion, while the Small Business Fund had total capitalisation of Shs200 billion. The US$217 million GROW Project supports women-led enterprises, while Shs176 billion had been provided to support large-scale commercial farmers.

Musasizi said Government remains focused on supporting businesses to grow and transform into larger and profitable firms, with an emphasis on enterprises that can compete in export markets.

He called for stronger partnerships with the private sector, adoption of technology, value addition, improved storage and logistics, compliance with quality standards and access to export financing.

He also encouraged businesses to take advantage of opportunities available through the EAC, COMESA and AfCFTA.

The messages from the three officials converge on the need to move Uganda’s wealth creation agenda beyond financing and beneficiary numbers towards enterprise development, productivity and market competitiveness.

The emphasis is on creating stronger links between household producers and the wider commercial economy, enabling fragmented production to be aggregated, processed and supplied to buyers that require consistent volumes and internationally recognised standards.

The approach also places greater emphasis on value addition, meaning that Ugandan businesses should increasingly compete by selling higher-value processed and branded products rather than relying predominantly on exports of raw commodities.

The 17th National Competitiveness Forum therefore focused not only on how Government can finance enterprises, but also on how those enterprises can use available support to grow, become more productive, meet market requirements and participate in regional and global trade.

The recommendations emerging from the Forum are expected to feed into Uganda’s FY2027/28 budget priorities as Government seeks to translate wealth creation initiatives into competitive firms, productive employment, higher household incomes and increased export earnings.