This population has been kept away from banks due to fear of costs and barriers to entry. Once the income side is solved through economic growth and an enabling legal and regulatory framework for Microfinance Institutions is created, it is our strong belief that this will go a long way in pushing forward the “Kenyan access to financial services frontier”.
Hence the companies surveyed in the PSIS generate labour productivity which is more than seven times the average for the entire Ugandan economy. Not only are the mid-sized companies much more productive than the economy as a whole, their labour productivity has been growing much faster than that of the rest of the economy.