Kampala, Uganda | JULIUS BUSINGE | Standard Chartered Bank Uganda has today (Feb.18) organized a Manufacturers’ Business Forum for over 150 manufacturers and various stakeholders at Hotel Mestil in Kampala.
The aim was to provide a platform for market players to network, share forward-looking insights and best practices, according to the bank’s officials.
The forum themed “Practices for Sustainable Business Growth” brought together subject matter experts and leading manufacturing businesses to deliberate on current trends affecting business growth in Uganda as well as share the latest research on important and policy-relevant topics.
This engagement granted an opportunity to the Bank’s clients to learn, engage, network and be empowered to improve their operating environment.
Albert Saltson, the bank’s chief executive officer said it is critical that business leaders make insight led and research-based business decisions in partnership with strong and reliable financial partners who will help them stimulate their business growth.
“At Standard Chartered Bank we are committed to spearheading industry discussions on pertinent issues as part of our commitment to share our knowledge, expertise and best practice with the Ugandan market,” Saltson said.
Eva Wanjiku Otieno, the Africa strategist at the bank said Uganda has mixed growth outlook supported by public investment in infrastructure.
She however said that delays on the Final Investment Decision (FID) for the oil and gas sector and the upcoming 2021 general elections would weigh on business prospects. She also said BoU’s move to keep its policy interest rate – the Central Bank Rate at 9% was a wise move given that core inflation remains below the policy target of 5%.
Investment experts say platforms of this nature are important in bringing different players up to speed with what is happening in the sectors under discussion.
It also provides a business opportunity for organisers like Stanchart to cement their relationship with their clients, snatch those that aren’t theirs.