MSMEs key to Uganda’s $500 billion economic ambition — Bagonza
Micro, Small and Medium Enterprises (MSMEs) will be central to Uganda’s ambition of growing its economy to $500 billion by 2040, the Permanent Secretary in the Ministry of Trade, Industry and Cooperatives, Lynette B. Bagonza, has said. Speaking at the Uganda Media Centre ahead of the International MSME Day 2026 and the UG Catalyst Summit […] The post MSMEs key to Uganda’s $500 billion economic ambition — Bagonza appeared first on Daily Star.
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Micro, Small and Medium Enterprises (MSMEs) will be central to Uganda’s ambition of growing its economy to $500 billion by 2040, the Permanent Secretary in the Ministry of Trade, Industry and Cooperatives, Lynette B. Bagonza, has said.
Speaking at the Uganda Media Centre ahead of the International MSME Day 2026 and the UG Catalyst Summit scheduled for June 25–27, Bagonza described small businesses as the backbone of Uganda’s private sector and critical drivers of the government’s Tenfold Growth Strategy.
“MSMEs remain the primary vehicles through which innovation, entrepreneurship and industrial transformation will be realized,” she said.
According to the ministry, MSMEs account for more than 90 percent of the private sector and play a significant role in employment creation, income generation and value addition.
Bagonza noted that strengthening these enterprises will be essential as government implements the National Development Plan IV, with a focus on building competitive businesses, improving productivity, expanding exports and creating jobs for Uganda’s growing population.
The three-day UG Catalyst Summit, organised in partnership with the National Planning Authority, Innovation Village Hub, GAIN Uganda and other stakeholders, will be held under the theme: Catalyzing Action for Growth: Accelerating Uganda’s Tenfold Growth through Innovation and Entrepreneurship.
Organisers say the summit will provide a platform for dialogue, partnership building and investment mobilisation, with particular attention to reducing barriers that limit businesses from formalising.
The meeting is expected to bring together policymakers, investors, entrepreneurs, financial institutions and development partners to identify practical solutions to enterprise growth challenges.
Key discussions will focus on improving access to finance, markets, technology and business development services, as well as strengthening collaboration between government and the private sector.
The summit will also highlight opportunities across four priority sectors: agro-industrialisation, tourism, mineral development, and science, technology and innovation.
Under agro-industrialisation, discussions will centre on value addition, agro-processing and climate-smart production. The tourism segment will explore enterprise development, cultural industries and digital marketing, while mineral development will focus on local content and skills integration.
Deliberations on science and technology will examine digital transformation, commercialisation of innovation and access to financing.
A major highlight of the event will be the FreshValue Innovation Challenge 2026, targeting MSMEs and youth-led enterprises in the fruit and vegetable value chains.
The initiative seeks to promote scalable solutions that improve access to nutritious food, reduce post-harvest losses and enhance competitiveness in the horticulture sector.
Top-performing enterprises will receive seed funding, technical support, mentorship and investment readiness training, with winners to be announced on June 27 during the MSME Day celebrations.
Bagonza said the event is expected to boost visibility of MSMEs and strengthen collaboration among key stakeholders, while generating policy recommendations to support enterprise development.
“Together, let us build the partnerships and actions necessary to accelerate Uganda’s journey towards a $500 billion economy by 2040,” she said.
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