Mr Dennis B. Aguma, President of Kingston Entrepreneurs (Kingston University) in his presentation on youth entrepreneurship and Uganda’s key to prosperity for all, cited that according to recent reports Uganda is the most entrepreneurial country – entrepreneurship rate of 28%, almost doubles the entrepreneurship rate of Thailand 16% (Approved Index, n.d.); world’s largest percentage of young people under 30 – 78% – the UN Population Fund; GEM – average entrepreneur in Uganda is aged 18-34; 90% of young people would prefer to be running their own businesses as a career choice; 38% of young people, compared to 36% for adults overall, engaged in early-stage entrepreneurial activity; 64% of 18-30 unemployed and Uganda’s labour force is growing at more than 4% per year. He pointed out that despite the accolades Uganda still has an enterprise skills gap and businesses are started out of desperation and necessity.
He introduced his new scheme, Student Enterprise Initiative (SEI) which will create a generation of enterprising Ugandans equipped with the tools necessary for the creation and management of sustainable businesses. With strategic deliverables that will also create Enterprise Societies in Universities, colleges, Sec & Primary Schools. Link up with other established societies and universities KUNACUE the National Enterprise Challenge – the Startup Factor, a UK Government endorsed organization that provides individuals with start-up funding and mentoring to launch and develop their own businesses.