Italy launches business hub to strengthen Uganda's private sector
The hub will provide Ugandan enterprises with access to business development services, specialised expertise, technology partnerships, finance and international market opportunities, with particular attention to small and medium-sized enterprises, women-led businesses and young entrepreneurs.
Trade Minister Sanjay Tanna speaks at the launch of the initiative, supported by the Italian Government through its Ministry of Foreign Affairs and International Cooperation and implemented by UNIDO. (Photo by Aloysious Kasoma)
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Italy has launched a business hub in Uganda to strengthen private sector capacity, connect local enterprises to international markets and promote investment, technology transfer and industrial development.
The initiative, supported by the Italian Government through its Ministry of Foreign Affairs and International Cooperation and implemented by the United Nations Industrial Development Organisation (UNIDO), was launched last week at Serena Hotel.
It seeks to build stronger business partnerships between Ugandan and Italian companies.
The hub will provide Ugandan enterprises with access to business development services, specialised expertise, technology partnerships, finance and international market opportunities, with particular attention to small and medium-sized enterprises, women-led businesses and young entrepreneurs.
H.E. Mauro Massoni, the Italian Ambassador to Uganda, said the initiative brings together development cooperation, economic diplomacy and the expertise of Italy's productive sector to create practical opportunities for businesses in both countries.
“Our mission is to create a more structured channel of engagement between Ugandan enterprises and Italian institutions, companies and centres of expertise,” Massoni said.
Hon. Marco Riccardo Rusconi, Director of the Italian Agency for Development Cooperation (AICS), said the project was particularly important because it was the first initiative requested by the Ugandan authorities from the Italian Government through the agency since its Kampala office opened two years ago.
“Our ambition is to help Ugandan enterprises become stronger, more competitive and better connected to international markets, including Italy, Europe and Africa, through technology, investment and business opportunities,” Rusconi said.
He said the project had already supported businesses in areas such as management, regulatory compliance and access to finance, while creating opportunities for companies to meet international partners through business forums and matchmaking activities.
Andrea Carapellese, Deputy Head of UNIDO Investment and Technology Promotion Office (ITPO) Italy, said the project was designed to address practical challenges facing local enterprises, including negotiating commercial contracts, meeting international standards, accessing finance and acquiring appropriate production technologies.
“Our focus is not simply on training businesses but providing practical solutions to their challenges. We want to help companies prepare for opportunities and connect them to those opportunities,” Carapellese said.
Sanjay Tanna said the hub would support Uganda's ambition to transform its economy through industrialisation and value addition.
“Uganda has moved on from aid to trade. We do not seek aid; we seek trade. We want to move from being donors and recipients to becoming business partners who work together and share in the returns,” Tanna said.
Trade Minister Sanjay Tanna (centre) poses for a group photo with participants during the launch of the initiative, supported by the Italian Government through its Ministry of Foreign Affairs and International Cooperation and implemented by UNIDO. (Photo by Aloysious Kasoma)
He urged Italian companies to establish joint ventures with Ugandan businesses, invest in manufacturing and transfer technologies that can be operated and maintained locally.
Tanna said Uganda wanted to move away from exporting raw materials towards processing, branding and selling finished products to international markets as it pursues its ambition of growing the economy from about $50b to $500b by 2040.
Massoni said the long-term success of the hub would depend on Ugandan ownership, with business associations and national institutions taking responsibility for its management and sustainability.
The initiative is expected to strengthen Uganda-Italy economic relations while supporting enterprise competitiveness, employment creation and the country's industrialisation agenda.