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5th Annual Bankers Conference slated for next week

Uganda Bankers Association executives address the press on July 12 ahead of the 5th Annual Bankers Conference.

Kampala, Uganda | THE INDEPENDENT | Uganda’s banks will next week hold the 5th Annual Bankers Conference focusing on recovering manufacturing, tourism and agribusiness sectors.

The two-day conference starting on July 25 will take stock of the financing gaps and other funding challenges therein, how best the financial sector players and institutions can competitively and sustainably bridge the gap and make the much-needed financing required to support recovery and growth as well as highlight the critical roles that need to be played by other key stakeholders including government, regulators and private sector among others.

The conference themed ‘Bridging financing gaps in the manufacturing, tourism and agribusiness sectors to catalyse economic recovery and growth post 2021. Are financial institutions up to this task and responsibility?’ will include a key note address to be delivered by Bank of Uganda, Afreximbank and European Union respectively on each of the days, followed by presentations and panel discussions by technocrats from the ministries of industry and tourism and related government agencies and private sector players.

Sarah Arapta, the chairperson of Uganda Bankers Association said Uganda’s National Development Plan III highlights among others; manufacturing and tourism as key primary growth sectors that have development multiplier effects owing to their forward and backward linkages with other sectors including agriculture; and as such considered priority areas of focus.

“The manufacturing sector consumes a staggering 66.7 per cent of all the power generated, employ over 1.3million people, contributes 15.4 per cent to the Gross Domestic Product, 19 per cent of the total exports to the global market and 14 per cent of the tax revenue collected,” she said.

She added: “Direct loan manufacturing exposure to financial institutions regulated by Bank of Uganda currently stands at Shs2.4trillion or 13.2 per cent of the total loan exposure.”

Arapta said hospitality and tourism sector is a major source of employment, government revenue and foreign exchange earnings in the country and accounts for 7.8 per cent of the GDP.

Tourism sector earned the country about US$1.45bn per annum before the outbreak of coronavirus pandemic, according to the available statistics.

Wilbrod Owor, executive director at UBA said the conference deliberations have been broken down into four sessions covering various themes.

These include; the multiplier role manufacturing play in promoting growth of SME’s, job creation, regional trade and diversification and specific efficiency and funding challenges; the unexploited potential in tourism for economic growth and development and how the financial sector can support harnessing of this potential; expectations from banking and financial service institutions in the growth and development of the two sectors; and the alternative financing options including syndications for scale, blended financing, climate finance and responsible banking for sustainability going forward.

One comment

  1. The intervention is timely. Thank you for the organization.

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