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Government to Turn Informal Sector Borrowing-Kasaija

Ruth Musoke Lillian, the head of skills Development Facility at the Private Sector Foundation Uganda, also reveals that they are currently implementing a World Bank funded project to help enhance skills of local people to address the impediments to skills development.
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Government is considering borrowing from the informal sector to reduce on its huge foreign debt burden, the Finance, Planning and Economic Development Minister, Matia Kasaija has said.

According to Kasaija, once organized appropriately, the local informal sector players can support the country's economic growth other than looking up to foreign lenders.

He explains government is now focusing its approach towards increasing financial inclusion by exploring all opportunities in the informal sector. 

Kasaija was speaking at the graduation of over 300 youths following the completion of their training at a charitable vocational training center established by the junior Microfinance Minister and Kyotera County Member of Parliament Kyeyune Haruna Kasolo in Kalisizo Town.

He explained that coupled with the financial literacy training, the acquired vocational skills especially by the youth who make up the biggest percentage of the population, can effectively turnaround the economy.

Kasaijja said government is now committed to rendering all the necessary support towards building a strong informal sector that is capable of increasing the local production capacity to eventually increase people's earnings to appreciate the value of savings

//Cue in “The implications are very……………………

Cue out …………….much better off//

(Luganda) ensimbi ziri mu bintu ……………

cue out………………ensi yeyonger okukula//

The grandaunts trained in tailoring, carpentry, welding and metal fabrication, motor cycles repairs, saloon management and hair dressing among other skills.

Haruna Kyeyune Kasolo, the Microfinance State Minister, said the high levels of unemployment especially among the youths in the area was overshadowing all government's community development initiates, which demanded for a holistic intervention to address the challenge.

He said that he is now looking up to common user facilities that can help the trained groups effectively market their products. 

//Cue in “Kubanga tukoze ebintu…………

Cue out,………….. nababajja bwebatyo//

Ruth Musoke Lillian, the head of skills Development Facility at the Private Sector Foundation Uganda, also reveals that they are currently implementing a World Bank funded project to help enhance skills of local people to address the impediments to skills development.

She said they are reaching out to such organized groups to support them progress as well as improving quality of their products.

//Cue in; you have to note……………….

.Cue out……………none formal training//

//Cue in: “Nebwoba nga tewasoma…………..

Cue out……………..sente oba tozirina//

Badru Bukenya, Ruth Nakanwagi and Robina Nabakooza, some of the beneficiaries of the training are optimistic that the project will as well help them improve the welfare of their respective communities.

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