Ugandan Minister of State for Economic Monitoring, Omony Ojok said recently that the government has undertaken steps to ensure that there is an enabling environment for small- and medium-sized enterprises (SMEs) to operate meaningfully.
"We have to make sure that there is monetary stability, low inflation and the economic and social infrastructure available to enable the SMEs flourish," he said.
In this east African country, SMEs make a very significant contribution to both household and national incomes. It is estimated that the sector makes up to 90 per cent of the country's business activities and is also the main source of employment for most of the non-farming population.
Statistics here indicate that the SMEs constitute the bulk of the country's economy, contributing 21 per cent of the gross domestic product (GDP) and 29 per cent of the labour force within the working age.
