Private Sector Foundation Uganda (PSFU) has today launched the COVID-19 Economic Recovery and Resilience Response Program in partnership with Mastercard Foundation.
The program will extend immediate relief, recovery and resilience interventions to counter the impact of COVID-19.
The COVID-19 Economic Recovery and Resilience Response Program, with a commitment of US$8.3m (equivalent to Ush 31bn) from the Mastercard Foundation COVID-19 Recovery and Resilience Program, will be used to;
• Procure 30,000 PCR (Polymerise Chain Reaction) test kits for use by the COVID-19 National Taskforce.
• Purchase personal protection equipment (PPE) and other critical items for frontline workers in the fight against COVID-19.
• Support the enhancement and adaptation of standards and quality certification and management by Uganda National Bureau Standards (UNBS) and qualifying private laboratories to improve the quality of goods for domestic and export markets.
• Support Uganda Healthcare Federation to develop a digitised quality assurance system for the standardisation of services in private medical facilities across the country.
• Support at least 200 qualifying enterprises whose operations have been affected by COVID-19 to survive and thrive in new and existing local and international markets.
• Support government, through the National Planning Authority, to develop a post-COVID-19 recovery and growth strategy.
The COVID-19 Economic Recovery and Resilience Response Program complements the efforts of the Government of Uganda to control the spread of COVID-19 and develop a post COVID-19 recovery and growth strategy to
support the survival, recovery and resilience of enterprises impacted by the negative economic effects of COVID-19.
“On behalf of all the stakeholders of the private sector, I would like to express my sincere gratitude to Mastercard Foundation for their support during this unforeseen time as we all fight to survive and thrive despite the undesirable effects of COVID-19. We are principally honored for the opportunity that Mastercard Foundation is partnering with PSFU to advance the development of the private sector in Uganda. We will honor our partnership by ensuring that we fulfill the responsibility they have entrusted us with to all our stakeholders,” said Hon. Dr. Elly Karuhanga, Chairman of Private Sector Foundation Uganda.
The creation of the COVID-19 Economic Recovery and Resilience Response Program is aligned to the Foundation’s Young Africa Works strategy. Young Africa Works, developed in consultation with young people, policymakers, educators, and entrepreneurs, is Mastercard Foundation’s strategy that aims to enable 30 million young people in Africa, to access dignified and fulfilling work over the next 10 years.
“‘Young Africa Works is about connecting young people to opportunities, enabling them to build and sustain their livelihoods. We have to safeguard the work opportunities that already exist but are threatened by COVID-19 as we deepen our work in identified priority economic sectors and explore emerging opportunities that will create new pathways to work,’ said Samuel Yalew Adela, Country Head, Uganda, at the Mastercard Foundation.
Mastercard Foundation is also responding to COVID-19 on a continental level.
On June 4, 2020 the Foundation announced its partnership with Africa Centre for Disease Control and Prevention (Africa CDC). Through its COVID-19 Recovery and Resilience Program, Mastercard Foundation is committing US$40 million to the Africa CDC’s Partnership to Accelerate COVID-19 Testing (PACT). These funds will be used to purchase 1 million test kits, as well as train and deploy 10,000 community healthcare workers and 80 surveillance rapid responders to support contact tracing as well as strengthen the Africa CDC’s capacity to oversee a continental response to the pandemic.
Private Sector Foundation is Uganda’s private sector apex body. Since its founding in 1995, PSFU has served as a focal point for private sector advocacy as well as capacity building and continues to sustain a positive dialogue with Government on behalf of the private sector. PSFU is also Government’s implementation partner for several projects and programmes aimed at strengthening the private sector as an engine of economic growth in Uganda. PSFU is a value-based and ethically driven entity premised on 11 sectors that drive Uganda’s economic growth.
PSFU’s competitiveness agenda is driven by the urge to increase private investments and productivity. These two are supported by a robust business environment that attracts and protects investment capital.
Mastercard Foundation works with visionary organizations to enable young people in Africa and in Indigenous communities in Canada to access dignified and fulfilling work. It is one of the largest, private foundations in the world with a mission to advance learning and promote financial inclusion to create an inclusive and equitable world. The Foundation was created by Mastercard in 2006 as an independent organization with its own Board of Directors and management.