Pro Bono SME Support Initiative - Uganda

The tax base is not expanding. The rich are sheltering their wealth in the underground economy, leaving the burden to be carried by the compliant few.

Ease tax burden on the compliant few

Growing SMEs in helping to achieve thier objectives:

Economic growth in Africa slowed in 2016, with GDP growth falling to 1.6% from 3.4% the year before. This has been attributed largely to lower commodity prices and reduced global demand. As expected, this situation reignited calls for Africa to diversify and industrialize.

Indeed, a more industrialized and diversified Africa would prove less vulnerable to commodity price fluctuations and shocks in demand. A crucial, missing piece of this debate is the role of home-grown SMEs in helping achieve these twin objectives.

SMEs throughout Africa are a critical force as drivers of economic activity across all sectors from agriculture to ICT. They have emerged as key employers firms with fewer than 20 employees provide the most jobs in Africa’s formal sector. Over 70% of Africans work for micro, small and medium-sized enterprises (MSMEs). African entrepreneurs and their small businesses are actively contributing to supply and production chains that will increase the continent’s manufacturing base and kickstart massive industrialization.

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