“The fund has been set up with resources contributed by government in partnership with KFW totalling Shs12.5 billion and an additional equal amount which has been mobilised by the participating banks,” Ms Kiwanuka said in a statement. “To ensure that the fund grows and is effectively rolled out to achieve wider coverage we need to prudently manage it and allow our partners to remain accountable to their shareholders.”
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The fund will focus on improving competitiveness of the business environment to enable the private sector play a dominant role for employment generation, which will be enforced by vocational training, Ms Kiwanuha said.

“It will be used to support viable and sustainable SMSEs across the country because they comprise over 90 per cent of the private sector; they contribute to employment creation, provision of basic goods and services and the generation of tax revenues,” said Ms Kiwanuka.

Mr Kisaame added: “Dedicated desks and personnel will be set up within our banking halls and we are planning on availing information flyers to make the process easy.

Unemployment particularly among the youth is a major concern to Government. The common impediments include lack of entrepreneurship and business acumen and limited access to affordable finance.

In Uganda, for every one job in the formal sector, there are over 50 people struggling for it. Thousands of new graduates compete with those who completed earlier for the few jobs made available each year. This means the majority of new entrants in the labour market every year hardly find gainful work.

 In reaction to 2010/11 Bugdet Speech presented by the Finance Minister, Hon. Syda Bbumba, Herbert Kabafunzaki, Director Khan & B Consultancy wrote "Ugandans need training that can change their attitude from employment bias to self-employmment and other forms of business enterprises."