The Chairman of the Private Sector Foundation Uganda (PSFU), Humphrey Nzeyi, delivered an inspiring address at the Next Gen Entrepreneurship Conference, emphasising the organisation’s commitment to fostering Uganda’s young entrepreneurial talent.
Speaking to a packed audience at the Serena Hotel on December 5, Nzeyi set the tone for a day of interactive mentorship, knowledge-sharing, and business growth strategies tailored to aspiring entrepreneurs.
Supporting Uganda’s Business Ecosystem
Nzeyi began by explaining the foundation’s role as Uganda’s umbrella organisation for business, representing over 380 associations across 13 economic sectors and supporting 3.5 million enterprises.
“Our mandate is clear: to create policies that benefit businesses, generate jobs, impart skills, and strengthen our member associations,” he said.
Over the last three years, PSFU has created approximately 162,000 jobs through partnerships with organisations such as the MasterCard Foundation and the World Bank. Additionally, the foundation offers skilling programs that prepare young Ugandans for work readiness and export opportunities.
The Next Gen Initiative
Nzeyi described the Next Gen Entrepreneurship Conference as a pivotal step in addressing Uganda’s unique advantages as the world’s most entrepreneurial country with the youngest population. He explained that the event was designed to provide mentorship, insights, and inspiration from successful business leaders.
“Every successful entrepreneur knows the value of good mentorship,” Nzeyi remarked. “We’ve brought together speakers from diverse industries—real estate, entertainment, manufacturing—so there’s something for everyone. This is an interactive session where you can ask questions and learn from their journeys.”
The chairman urged participants to take full advantage of the event, noting, “We aim to help you become the best possible businesspeople. Uganda is a small country, but we have the potential to punch well above our weight.”
Programs for Women and Young Entrepreneurs
Nzeyi also highlighted PSFU’s initiatives to support young entrepreneurs and women-led businesses. He encouraged participants to explore programs such as “Grow,” which offers low-interest loans to women entrepreneurs.
“This is a phenomenal learning opportunity,” Nzeyi emphasised. “Some of these speakers have even adjusted their busy schedules to be here today. Take notes, engage actively, and seize this chance to transform your entrepreneurial journey.”
In his turn, PSFU CEO Stephen Asiimwe said the Next Gen Initiative is an ambitious program aimed at empowering Uganda’s next generation of entrepreneurs and business leaders.
Asiimwe emphasised equipping young Ugandans with the skills and support needed to thrive in business. He highlighted Uganda’s youthful demographics, noting that most of the population is under 35.
“Many of these young people are not engaged in meaningful business. They want to invest, grow, and contribute to the economy but need the tools and support to propel them forward,” he said.
“We have come here to sow seeds of growth,” Asiimwe remarked, referencing 1 Corinthians 3:6 to illustrate the collaborative effort required for success.
“Some of you are already in business, so we are here to water the seeds you have planted,” he noted, adding: “This is a once-in-a-lifetime opportunity for young Ugandans to learn from experts who have succeeded in the face of challenges.”
PSFU’s Next Gen Initiative seeks to bridge entrepreneurial knowledge and practice gaps by providing access to seasoned mentors, skilling opportunities, and financial resources.
