KAMPALA - The Ugandan ministry of foreign affairs (MoFA) has partnered with Stanbic Bank to conduct financial training for Ugandan diplomats as the country positions all missions for commercial diplomacy.
Ambassador Patrick Mugoya, the ministry's permanent secretary, talked about the move.
He said the training offer comes at a time when the country is preparing to unveil a new functional department for commercial and public diplomacy to deal with investment promotion, marketing and branding of Uganda within the international and regional system.
Under commercial diplomacy, Mugoya said, missions abroad are expected to deliver tangible financial benefits in terms of direct foreign investments.
Margret Kafeero Awino, the head of public diplomacy at the ministry said Mugoya made the remarks following a meeting with Patrick Mweheire, the CEO of Stanbic Bank at the ministry's headquarters in Kampala.
“The meeting which followed a courtesy call to the MoFA by Stanbic Africa Head of Advocacy and Risk in October 2016 focused on various areas of interest including production of financial and promotional literature, Training of Commercial Attachés in financial literacy, Brand Promotion, image building, public outreach, marketing and production of relevant promotional materials,” said Awino in a statement.
Trends in economic outlook in the face of Brexit and increased protectionism policies in the world were the other items that were discussed during the meeting.
“Recalling ongoing debates about Brexit, Frexit and increasing protectionism policies in the international arena, the two discussed the direct relationship between regional and international foreign policy trends and trade growth,” Awino added.
Stanbic's Mweheire urged the government to openly continue engaging the private sector in development programmes, and also constantly share information rather than working under the outdated silo mechanism.
“In partnering with MoFA, Stanbic Bank is highly incentivized to bring more business to Uganda and stands ready to work with the MoFA to support the work which missions are already doing," he said.
Meanwhile, Mugoya unveiled the Uganda Economic and Business Guide, a manual he said that will guide the commercial attaches in Uganda missions to attract investment and spur trade.