{"id":28522,"date":"2022-03-24T16:57:52","date_gmt":"2022-03-24T16:57:52","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=28522"},"modified":"2022-03-24T15:25:03","modified_gmt":"2022-03-24T15:25:03","slug":"uganda-must-develop-middle-class-to-improve-private-sector-ifc","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc","title":{"rendered":"Uganda must develop middle class to improve private sector\u00a0\u2013 IFC"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>An International Finance Corporation (IFC) chief Thursday said Uganda must address gaps in the middle class to develop the country\u2019s private sector.<\/p>\n

\u201cUganda\u2019s private sector is composed of few big firms and yet there are very many small ones. This makes the private sector in Uganda weak. The middle class of the private sector is missing and needs to be developed,\u201d said Ms Amena Arif, the IFC country manager in about six sub-Saharan states including Uganda.<\/p>\n

Although Uganda embarked on privatization and liberalization policies in 1993, the private sector has remained weak and less competitive in the East African bloc.<\/p>\n

\u201cThe private sector is an indispensable force for sustainable development as it sparks innovation, improves productivity and economic efficiency, and creates the jobs and growth needed to end extreme poverty and boost shared prosperity,\u201d Ms Arif told this reporter in an interview at the Kampala Serena Hotel.<\/p>\n

Ms Amena said there is urgent need to develop the private sector and both the government and the donors have a role to play in achieving that.<\/p>\n

Asked how IFC can support Uganda\u2019s private sector, Ms Amena said \u201cthe establishment supports private sector development through investment and advisory services to create the opportunity for people to escape poverty and improve their lives.\u201d<\/p>\n

According to her, the IFC is vastly ready to back Uganda\u2019s private sector growth.<\/p>\n

\u201cThe IFC investment and advisory service operations in Uganda aim at mobilizing, financing and extending knowledge-based services to stimulate private investment growth and improve the environment for businesses to thrive, create jobs, and come up with more innovations,\u201d Ms Arif noted.<\/p>\n

[email protected]<\/b><\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. An International Finance Corporation (IFC) chief Thursday said Uganda must address gaps in the middle class to develop the country\u2019s private sector. \u201cUganda\u2019s private sector is composed of few big firms and yet there are very many small ones. This makes the private sector in Uganda weak. The middle class of the […]<\/p>\n","protected":false},"author":84,"featured_media":28521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12],"tags":[233,240,234],"class_list":["post-28522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nUganda must develop middle class to improve private sector\u00a0\u2013 IFC - Uganda<\/title>\n<meta name=\"description\" content=\"An International Finance Corporation (IFC) chief Thursday said Uganda must address gaps in the middle class to develop t ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Uganda must develop middle class to improve private sector\u00a0\u2013 IFC\" \/>\n<meta property=\"og:description\" content=\"An International Finance Corporation (IFC) chief Thursday said Uganda must address gaps in the middle class to develop t ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-24T16:57:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/03\/img-623c8d380ba8b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"514\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Uganda must develop middle class to improve private sector\u00a0\u2013 IFC\",\"datePublished\":\"2022-03-24T16:57:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc\"},\"wordCount\":291,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/03\/img-623c8d380ba8b.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/uganda-must-develop-middle-class-to-improve-private-sector-ifc\",\"name\":\"Uganda must develop middle class to improve private sector\u00a0\u2013 IFC - 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