money

Entrepreneurs get UGX 100M to boost their businesses

By Deo Wasswa

100 young entrepreneurs across the country through “Be a Millionaire” competition have won 100 million Ugandan Shillings.

The first 57 winners received their money in Kampala after going through a business mentor-ship program by Enterprise Uganda, and Nile breweries who were the official sponsors of the competition.

Nile Breweries launched “Be a Millionaire” to help youth cope with the economic ravages of the COVID-19 related shutdowns, by either starting new small scale enterprises or re-opening stalled ones.

“The pandemic has predictably left some small enterprises closed; youth laid off from jobs, and potential entrants into the job and business market barely able to start,” said David Valencia, the Nile Breweries Country Director.

“Giving affected youth a kick-start to finance their ideas will not only impact their lives, but our communities and the country at large,” said Onapito-Ekomoloit, Nile Breweries Legal and Corporate Affairs Director.

Nile Breweries partnered with Enterprise Uganda to receive and vet business proposals from youth across Uganda. Successful entrants were selected from all regions across the country.

To participate in the UGX100M campaign, aspiring youth entrepreneurs across the country were required to draft a brief plan on how they would use UGX1M to start a business.

Nile Breweries will give money to the remaining 43 winners at events in Mbarara and Gulu soon.

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