Govt pledges support to boost local brands
Aug 12, 2010
THE Government will support local entrepreneurs develop strong brands, Gaggawala Wambuzi, the state minister for trade, has said.
By David Ssempijja
THE Government will support local entrepreneurs develop strong brands, Gaggawala Wambuzi, the state minister for trade, has said.
This is a critical step as investors seek to tap into economic benefits that accrue from franchising. The move, Gaggawala said, would strengthen Uganda’s position in the East Africa common market.
“As we seek to popularise our products and services in the regional market, the Government must also put emphasis on helping local investors develop franchises,†he said.
This was in a speech read by the commissioner for internal trade, Raymond Agaba, at the opening of the second franchising awareness workshop at Hotel Triangle in Kampala.
It was organised by Abbedax, a trade systems development consultancy, the Vision Group and the finance ministry.
Franchising involves business systems where companies (franchisers) legally allow other investment establishments (franchisees) to use their brands within their marketing and operation strategies.
Franchisees must remit a percentage of their periodical profits to the franchiser.
The economic advantage to the franchisees is that they deal in products and services with already established popular brands which realises quicker returns on investments, they must however operate in a manner that does not compromise the integrity of the franchisers.
Gagawala said government would fund awareness campaigns about franchising such that Ugandan brands widen local presence and penetrate markets of other countries.
THE Government will support local entrepreneurs develop strong brands, Gaggawala Wambuzi, the state minister for trade, has said.
This is a critical step as investors seek to tap into economic benefits that accrue from franchising. The move, Gaggawala said, would strengthen Uganda’s position in the East Africa common market.
“As we seek to popularise our products and services in the regional market, the Government must also put emphasis on helping local investors develop franchises,†he said.
This was in a speech read by the commissioner for internal trade, Raymond Agaba, at the opening of the second franchising awareness workshop at Hotel Triangle in Kampala.
It was organised by Abbedax, a trade systems development consultancy, the Vision Group and the finance ministry.
Franchising involves business systems where companies (franchisers) legally allow other investment establishments (franchisees) to use their brands within their marketing and operation strategies.
Franchisees must remit a percentage of their periodical profits to the franchiser.
The economic advantage to the franchisees is that they deal in products and services with already established popular brands which realises quicker returns on investments, they must however operate in a manner that does not compromise the integrity of the franchisers.
Gagawala said government would fund awareness campaigns about franchising such that Ugandan brands widen local presence and penetrate markets of other countries.