Over 800 Gulu Main Market vendors receive financial literacy training
GULU CITY, January 3, 2026 — A total of 890 vendors at Gulu Main Market have received financial literacy training aimed at strengthening business growth and sustainability.
The training, conducted by the Gulu City Commercial Office in partnership with Enterprise Uganda, covered key areas including proper record-keeping, accessing loans from credible financial institutions, business registration and tax compliance.
The Gulu City Commercial Officer, George Nicholas Kidega, said the programme was delivered in phases, with the final session held last week.
Kidega emphasised the importance of basic business skills such as pricing.
“It is important for vendors to understand how to price their goods. A difference of Shs100 can cause a vendor to lose a customer. Vendors need to source their stock at lower prices and avoid overcharging if they want to remain competitive,” he said.
He also encouraged collaboration among vendors to reduce costs.
“We have taught them the importance of trust. There is no need for everyone to travel to the same market to buy the same product when one person can go and others share the transport costs. This way, vendors can reduce expenses, avoid overcharging customers and still make a profit,” Kidega explained.
He noted that many vendors operate without clear business goals, which often leads to frustration and eventual closure.
“We realised that many vendors are in business without a vision for growth. You may find someone selling a jerrycan of porridge year after year without any plan to expand. Many do not even keep daily records to assess whether they are making a profit,” he said.
Reports indicate that several vendors in Gulu City markets are struggling with loan repayments, while others have been forced out of business after failing to service their debts.
“Most vendors obtain loans from individual lenders who charge exorbitant interest rates. We have advised them to avoid such lenders and instead seek loans from commercial banks or their Village Savings and Loan Associations [VSLAs],” Kidega said.
The Chairperson of Gulu Main Market, Patrick Omaya, agreed that many of the market’s 4,500 vendors take loans without properly assessing their sources.
“They rush to anyone offering loans without considering whether the interest rates are fair. As long as loans are available, they take them. It is our responsibility as leaders to guide them on where they can access affordable and reliable financing,” Omaya said.
Kidega added that vendors at Olayilong and Lacor markets, also within Gulu City, are expected to benefit from similar financial literacy training in the coming months.
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