OIL AND GAS ENTREPRENEURSHIP
Rasta Rabo, one of Uganda’s top radio presenters was among hundreds of entrepreneurs who performed well and got certificates that give them an edge to join the oil and gas industry.
Rasta Rob, real names Robert Ogwal, went through a 10 months rigorous training Business Incubator programme organised by Stanbic Bank.
The training and function took place in Kololo, Kampala.
Rasta Rob runs Tuku Afrika Ltd a pan African sport tourism Diplomacy Company that connects and unites Africans through sport and travel.
Rasta explained that: “…tourism…which is moving out of your home, community or country to go out there and experience Africa by meeting other Africans who are principled, passionate and very resilient and love this continent so much but have not been given the opportunity to go and meet other people”.
Rasta Rob was a radio DJ sensation in the 1990s before he left for the UK. Today, he works as a presenter on a morning show, the Super Show and the Super Dance Show on Saturday nights.
He started presenting on the radio in 1993. Together with Alex Ndawula, Chris Ireland and Charles Kibalama they were the pioneers of FM radio.
There were 548 entrepreneurs from 122 Small and medium-sized enterprises (SMEs) that got certificates for having completed the course. The programme aims at tackling the constraints SMEs face such as lack of funds, lack of skills, poor record-keeping, low corporate governance, poor banking and borrowing culture/history.
They were taught how to handle fierce business competition, how to respect business contracts and how to get into business service development.
Also, James Mugume, a former permanent secretary in the ministry of foreign affairs with 43 years of diplomatic service got a certificate. He has retired from public service and joined the private sector.
Mugume runs The School Kitchen Ltd, a company limited by shares located in Kampala. The company offers catering services. It was incorporated in 2014 with the aim of producing foods and beverages of high quality. It produces both local and international cuisines in order to meet the demand of clients from different countries. In addition, the company produces different pastry to bring out different types of snacks.
Tony Okao Otoa Head Enterprise Development Stanbic Business Incubator said the business world of today requires resilience and exceptional entities stand out. He said SMEs face a lot of challenges ranging from lack of management and business skills, insufficient financial resources, lack of access to markets. Otoa said funding and resources are needed to address these challenges.
In support of economic growth in Uganda, Stanbic established the business incubator to enable SME’s overcome capacity and other challenges to enable SMEs tap into the oil and gas opportunities
Patrick Mweheire, executive director Stanbic Bank said the incubator will launch centers in Gulu, Hoima, Mbarara this year to make it easy for entrepreneurs to participate in training.
SMEs are considered engines for economic growth in developing countries. In Uganda, SMEs employ about 2.5m people and SMEs provide 90% of private-sector employment. They contribute to 20% of Gross Domestic Product and produce 80% of Uganda’s manufactured output.
However, less than 40% of SMEs in Uganda have access to bank loans to enable them to grow and expand and many do not survive for many years.