PSFU Leads Ground-breaking Mission to Foster Private Sector Collaboration and Investment in Uganda's Refugee Settlements
PSFU Leads Ground-breaking Mission to Foster Private Sector Collaboration and Investment in Uganda's Refugee Settlements
Kampala, Uganda – 26th August 2024 – The Private Sector Foundation Uganda (PSFU) embarked on a ground-breaking field mission to refugee settlements in Uganda. This initiative aimed to foster collaboration between the private sector and refugee communities, identifying opportunities for sustainable economic development and investment.
The mission brought together key stakeholders, including private sector leaders, government officials, and refugee representatives, to explore ways to leverage the private sector's expertise and resources to address the challenges faced by refugees. By gaining firsthand insights into the living conditions, economic activities, and aspirations of refugees, participants identified potential partnerships and investment opportunities that can create a lasting impact.
According to the European Union, Uganda hosts the largest refugee population in Africa and the 6th largest in the world. Nearly 60% of the over 1.5 million refugees are from South Sudan and over 30% from the Democratic Republic of the Congo. Uganda is constantly receiving new arrivals, with over 260,000 refugees arriving since January 2022.
The field mission focused on areas such as improving infrastructure, accessing finance, developing skilled workforce, and enhancing market access for refugees and host communities. It was expected to generate tangible outcomes, including increased private sector investment, job creation, and strengthened economic resilience in refugee hosting areas.
“"PSFU has established a significant presence in Uganda, with West Nile being a key focus area. We recognize that the displaced individuals bring diverse skills, experiences, and perspectives. Our aim is to engage in a collaborative dialogue on how we can co-own, cooperate, and co-create, ensuring their stay in Uganda is meaningful and fulfilling.” said Mr. Stephen Asiimwe, CEO, PSFU. “Additionally, we seek to integrate our projects with theirs, fostering market opportunities and skill development, all with the goal of making their stay as enriching as possible."
The private sector field visit to refugee settlements presents a unique opportunity for businesses to contribute positively to addressing one of the most pressing humanitarian challenges of our time. By fostering empathy, collaboration, and innovation, this initiative aims to create lasting impact for refugees while advancing the interests of the private sector in a socially responsible manner.
"We need to foster a culture in Uganda that encourages innovative thinking. The settlements span five districts, and within them are pockets of success that we must identify and scale up. Your support is crucial because the potential is undeniable. Refugee groups are already conducting financial literacy trainings, and we need the Catalytic Fund from the private sector, along with guidance to create more opportunities." said Paul Kenya, UNHCR Head of Sub-Office Arua.
In 2021, a report from the International Finance Corporation (IFC) indicated that Uganda’s refugee market was valued at shillings 1.7 trillion. The report showed that refugee-hosting areas in the West Nile and Southwest region spend over $485m (over 1.7 trillion) per year to purchase consumer goods.
The West Nile region accounted for $246m (about shillings 885 billion), representing 51%. This is largely driven by the host communities spending $201m (shillings 723 billion).
About Private Sector Foundation Uganda: The Private Sector Foundation Uganda (PSFU) is a non-profit organisation that serves as a representative body for the private sector in Uganda. Established in 1995, PSFU's primary aim is to promote and advocate for the interests of the private sector, foster a conducive business environment, and contribute to economic growth and development in the country. For more information, please visit https://psfuganda.org/
