At the recent Makerere University Entrepreneurship Congress 2024, held under the theme “Entrepreneurship as a Catalyst for Inclusive Growth”, Uganda’s State Minister for Gender, Labour, and Social Development, Hon. Balaam Barugahara, highlighted the transformative power of entrepreneurship. “Entrepreneurship promotes social mobility, fosters innovation, and empowers young people,” he said, emphasizing its role in addressing unemployment, limited opportunities, and inequality.
The event, organized by the Entrepreneurship and Outreach Center (MakEOC) under the College of Business and Management Sciences (CoBAMS), focused on providing young people with practical skills and strategies for entrepreneurial success. Hon. Barugahara shared his entrepreneurial journey, urging young entrepreneurs to “start small, dream big, understand their market, and surround themselves with mentors.”
Prof. Edward Bbaale, Principal of CoBAMS, who represented the Vice Chancellor, emphasized that entrepreneurship is vital for Uganda’s economic growth and development, particularly in tackling underemployment. “We aim to reinforce that growth must be inclusive, equitable, and accessible, ensuring that no one is left behind,” he remarked. He encouraged students and faculty to leverage the university’s resources to turn ideas into marketable products.
The Dean of the School of Business, Prof. Godfrey Akileng, underscored the role of entrepreneurship in achieving Uganda’s sustainable development goals, describing it as a crucial path for economic empowerment. “Through this congress, we aim to prepare students not only to create jobs for themselves but also to drive change and innovation that can uplift communities,” he stated.
Dr. Jude Mugarura, Head of the Department of Marketing and Management, commended the congress’s efforts in fostering entrepreneurship and noted the department’s role in developing well-rounded graduates. “Our goal is to produce graduates who can innovate, create, and manage businesses and also employ others,” he said, emphasizing the shift from “job-for-life” careers to “portfolio careers.”
The congress explored four core areas of modern entrepreneurship:
- Starting and Scaling a Small Business – Vision, resilience, and strong teamwork.
- Entrepreneurial Leadership and Mindset – Adaptability and comprehensive business planning.
- Technological Trends – Utilizing AI and data to fuel entrepreneurial growth.
- The Digital Hustle – Mastering digital presence, content creation, and engagement.
The event also featured insights from a range of panel speakers. Spera Atuhaire, Country Director of BRAC Uganda, discussed their mentorship-driven employment programs designed to empower young people. “Our initiatives focus on social economy, mentorship, and savings, helping youth overcome barriers to success,” she noted, adding that BRAC provides affordable credit to address financial challenges for young entrepreneurs.
Diana Ninsiima Kibuuka, Country Director of BNI Uganda, highlighted the importance of networking and understanding the values behind each network. “Each network serves a purpose, and you must understand that purpose,” she said, sharing her personal experience transitioning from law to entrepreneurship through her connection with BNI.
CK Japheth, founder of Innovation Village, emphasized the importance of testing business ideas for viability. “How do you reduce the time spent proving an idea is viable?” he asked, encouraging entrepreneurs to validate ideas through trial and error. “Find out by trying,” he advised, reminding participants that good ideas don’t automatically lead to successful businesses.
Diana Njuguna, an Associate Partner at Nyota Capital, discussed the challenges entrepreneurs face in securing funding, pointing to issues such as poor financial structure, inadequate governance, and complacency. “Strong financial management and qualified personnel are essential,” she said, urging young entrepreneurs to prioritize growth and avoid getting too comfortable in “lifestyle businesses.”
The Congress culminated in a well-attended Students’ Expo at Freedom Square, showcasing innovative student-led products and services. Dr. Sarah Bimbona, Director of Makerere University’s Entrepreneurship and Outreach Centre, praised the event, saying, “This year’s theme resonated deeply, addressing pressing challenges in Uganda’s entrepreneurial ecosystem.”
The Makerere University Entrepreneurship Congress 2024 succeeded in inspiring a new generation of entrepreneurs, promoting discussions on innovative solutions, and fostering partnerships that support Uganda’s socio-economic growth and development.
