International trade expo to address credit access and business growth

By Patrick Jaramogi

At least 2,000 small and medium Entrepreneurs will get skills in credit access and enhancement to business growth at this years’ 10th annual Private Sector Foundation Uganda international Trade Expo.

The PSFU executive director Gideon Badagawa said the issue of Ugandan goods and services competing in the global market is still a big challenge. “Competition is necessary that is why this year’s focus will be centered on value chain addition, information and building standards,” said Badagawa. He told the press at his Nakasero offices that the issues related to high lending rates coupled with the depreciating shilling against the exchange rate was hurting the private sector.

He said Chinese and South African products are competing unfairly across the region due to the low rending rate given to the manufacturers in their countries. “China lends at 5% while South African at 8%, so how can a Uganda producer getting money at 25% compete with such people even if they export their products here? It is hard,” he said.

He explained that this years’ international Trade Expo taking place at the Uganda Manufacturers Association grounds in Lugogo between August 25- 27 will attract at least 1,000 private sector members and over 2,000 Small and Medium Entrepreneurs (SMEs) and link them to over 1000 agro processors and traders. “Traders will have access to chat with over 15 leading banks, foreign missions, and experts in trade related issues,” he said.

The governor Bank of Uganda Prof. Tumusiime Mutebile will have a special session during the three day event to talk about the depreciating shilling and the high exchange rate.

Moses Ogwal the Private Sector Foundation Uganda Director Policy said SMEs will get tips of improving their businesses, accessing credit from banks and improving on the quality of their products and services.  “We shall also use same opportunity to tell the traders more about the World Bank/PSFU $8million Matching Grant Facility that is geared toward helping entrepreneurs boost their businesses,” said Ogwal.

Ogwal noted that other bodies such as PPDA, Uganda National Bureau of Standards (UNBS), and Uganda Revenue Authority (URA), Uganda investment Authority (UIA), KCCA and Uganda Registration Services Bureau will be handy to help the traders address challenges they face in doing business.

“This years’ International Trade Facilitation Expo will be unique because it comes at a time when the country is facing serious macro-economic challenges,” he said.

He said the PSFU organized event is intended to help Small and medium scale entrepreneurs and private sector promote production of high quality products that are able to meet the conformity and quality of the
 required standards in the East African and international region.

Sarah Nakibuuka the PSFU Public Relations manager said the trade minister Amelia Kyambadde will hold interactive sessions with the traders in an open session.  “We shall also have presentation from and interaction with KCCA, URA, URSB on regulations, tax registration and business licensing,” she said.

This year’ partners included Uganda Baati, Nile Breweries, Centenary Bank, URA, and Shumuk among others.

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