dfcu champions SME readiness for Uganda’s oil and gas value chain

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dfcu Bank has reaffirmed its commitment to empowering Ugandan enterprises to participate competitively in the country’s oil and gas sector.

Speaking at a Networking Forum hosted by the Industry Enhancement Centre (IEC) in Kololo last week, dfcu Bank’s Chief Retail Banking Officer, Annette Kiconco, urged SMEs to build long-term relationships with banks in preparation for opportunities linked to the Tilenga, Kingfisher, and related infrastructure projects.

Kiconco said dfcu Bank is sharpening its focus on the oil and gas value chain through capacity-building partnerships, working-capital solutions, asset finance, and trade guarantees; all aimed at equipping local firms to win, finance, and deliver large contracts.

“SMEs are the backbone of Uganda’s economy. Our goal is to combine access to finance with partnerships that strengthen their ability to grow, compete, and diversify beyond oil and gas,” she noted.

William Kayongo, Head of Enterprise Banking at dfcu noted that many businesses lose out because they approach banks late, often after winning tenders. He encouraged them to also involved the bank in earlier preparations to guarantee funding.  

“SMEs that engage their banks early stand a far better chance of securing the financial instruments they need, from bid bonds to performance guarantees; in time to deliver on their contracts. This is the right approach that SMEs must adopt,” Kayongo noted.

dfcu Bank’s partnership with IEC and the Private Sector Foundation Uganda (PSFU) is enabling enterprises to build financial resilience, strengthen systems, and prepare for participation in major energy and infrastructure projects.

“Our message to entrepreneurs is simple,” Kiconco concluded. “Don’t wait for opportunity to knock; prepare for it. Partnering with dfcu gives you the footing to compete and thrive.”

Established in 1964, dfcu Bank continues to leverage its six-decade legacy to finance sectors critical to Uganda’s economic transformation, including energy, infrastructure, and trade.