Deputy Speaker of Parliament Thomas Tayebwa has urged Uganda’s business community to build enterprises that create jobs, support communities and contribute to national development, saying businesses should be driven by more than the pursuit of profit.
Tayebwa made the remarks on Wednesday at Parliament during the inaugural National Prayer Breakfast–Business Forum, which he said would become a component of the annual National Prayer Breakfast.
He said the forum was intended to promote businesses anchored in ethics and encourage stronger engagement between policymakers and the private sector.
“Business should not be viewed simply as a means of making money,” Tayebwa said. “At its heart, business should create impact in communities.”
He said businesses play a central role in Uganda’s economy by creating employment, supporting suppliers, paying taxes and contributing indirectly to public services and infrastructure.
Government should create an enabling environment
Tayebwa said legislators recognise that government does not directly create wealth but should instead establish policies and systems that allow businesses to invest, expand and create employment.
“I told the captains of industry that we want to hear from them about whether the policies, laws and systems we have put in place are enabling them to grow, invest, employ more people and contribute to the economy,” he said.
He urged business leaders to provide Parliament with feedback on regulatory and policy barriers affecting investment and business growth.
Tayebwa calls for wider tax base
Taxation was among the issues Tayebwa said Uganda needs to address as it seeks to increase domestic revenue.
He said the country should focus on widening the tax base and improving compliance rather than repeatedly increasing the burden on businesses that are already paying taxes.
“If more businesses and individuals meet their tax obligations, we can increase government revenue and have greater capacity to provide roads, electricity, water and other services without unnecessarily increasing tax rates,” he said.
Uganda has been seeking to raise domestic revenue to finance public services and reduce pressure on borrowing, while businesses have continued to raise concerns about the cost of operating in the country.
Entrepreneurs urged to mentor young businesses
Tayebwa also called on successful entrepreneurs to mentor young business owners and help build a stronger culture of enterprise in Uganda.
He extended the call to legislators, urging them to move away from what he described as a mindset of treating politics as the primary avenue for wealth creation.
He said Uganda needs more businesses capable of growing, creating employment and generating wealth for communities.
The forum brought together members of the business community and policymakers to discuss the role of private enterprise in Uganda’s economic development.
