The government has assured investors that Uganda offers a favourable and stable environment for businesses, citing reliable electricity, a stable currency, abundant natural resources and access to regional and international markets.
The Minister of Trade and Industry, Sanjay Tanna, made the remarks during the third Trade and Investment Roadshow organised by Equity Bank Group at the Marriott Hotel Kampala.
The roadshow, held under the theme “Driving Innovation and Industrial Growth”, brought together investors, policymakers, manufacturers, financial institutions, entrepreneurs and other players in the private sector.
Tanna commended Equity Bank for creating a platform where different players in the economy could meet and explore opportunities for investment, trade and partnerships.
“I commend Equity Bank for organising a platform that brings together investors, policymakers, manufacturers, financing institutions, entrepreneurs and other stakeholders in the business sector,” Tanna said.
He said Uganda’s stable currency and the relatively free movement of money and resources provide businesses with an opportunity to expand their operations and participate in the country’s economic growth.
Tanna also said the Government had strengthened systems to combat financial crimes, including money laundering and cybercrime, creating a more secure environment for businesses and investors.
He urged investors to take advantage of Uganda’s economic potential, particularly in manufacturing and value addition.
According to Tanna, Uganda has a growing young population, abundant natural resources and a strategic geographical location that gives businesses access to a large domestic market as well as markets across East Africa and the wider African continent.
He said Uganda’s electricity generation capacity also provides an important advantage for manufacturers.
Tanna said the country has excess electricity generation capacity that can support industrial production and the expansion of manufacturing.
He encouraged investors to look beyond Uganda’s raw materials and focus on adding value to them locally before they are exported.
“Resources alone do not create prosperity. There is a need to transform our existing productive capacity through manufacturing, value addition, innovation and expertise,” he said.
Tanna said the Government was particularly focused on agro-processing as part of efforts to increase the value of agricultural products and create jobs.
“We as government are focused on agro-processing, and this is rightly embedded in our development policies,” he said.
He welcomed Equity Bank’s support for the government’s development priorities, particularly areas identified under the NDP VI.
The priorities include agro-industrialisation, tourism, minerals and mineral processing, as well as science, technology and innovation.
Tanna said partnerships between government, financial institutions and the private sector would be important in turning these priorities into businesses that generate employment, increase exports and contribute to economic growth.
Equity Bank executive director in charge of Commercial Banking, Claver Serumaga, said the roadshow was designed to create a platform where entrepreneurs, policymakers and financial institutions could connect and identify practical business opportunities.
He said the initiative gives businesses access to markets, capital, technology, knowledge and potential partners.
Serumaga said the trade mission was intended to go beyond discussions and help businesses turn contacts made during the roadshow into actual commercial partnerships.
“This trade mission will bring credible opportunities, connecting enterprises to markets and converting these conversations into real commercial partnerships, which will later encourage investment and trade flows,” he said.
He said Equity Bank, as a regional banking group, believes that businesses can no longer operate within national borders alone as markets become increasingly interconnected.
Serumaga said the bank wants to support businesses not only through financing but also by helping facilitate the movement of capital, goods and services, technology and knowledge across markets.
He said the bank’s regional presence allows it to connect Ugandan businesses to customers, suppliers and investment opportunities beyond the country’s borders.
The roadshow is part of Equity Bank’s efforts to promote trade and investment linkages between businesses in Uganda and other markets in the region.
The bank said such platforms are intended to help businesses identify new markets, access financing, and develop partnerships that can support expansion and industrial growth.
