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Uganda's private sector has expressed reservations about the EAC Common Market Protocol especially in light the lending rates that are higher than in Kenya and Tanzania.The participation of Uganda's micro, small and medium enterprises which comprise 90% of their membership will not be as competitive as their counterparts elsewhere."Access to money to finance projects is still very difficult due to the high interest rates in Uganda, Mr. Gideon Badagawa, the executive director Private Sector Foundation Uganda (PSFU) said."In Kisumu, Kenya, a fisherman can get a bank loan at 11% while a fisherman in Uganda gets it at 22%, how do you expect such a business person in Uganda to compete with the Kenyan?"

He said the Common Market, which becomes effective in July, shall allow for free movement of labour across the five-member states but that few Ugandan have got the skills to work in other countries, "meaning our people will become jobless.""But all these and many others not mentioned cannot be addressed within the remaining period but we need government support so that we help our SME's get ready to face the challenges that will come as a result of the Common Market," he said.That is why PSFU is organizing a three day member's day from 4th-6th March this year at the Uganda Manufacturers Association (UMA) exhibition hall.