Ranked among Uganda’s biggest commercial Banks,Centenary Bank has expanded its range of financial services aimed at supporting Chinese-owned businesses operating in Uganda.
The bank reaffirmed this commitment during its annual Chinese Clients’ Dinner held in Kampala, an engagement that brought together Chinese entrepreneurs, business leaders, representatives from partners such as the Sino-Uganda Security Centre, and bank executives.
Executive Director for Business Joseph Kiwanuka Balikuddembe highlighted the role Chinese enterprises play in driving economic transformation through investment, manufacturing, infrastructure, trade and job creation.
“Chinese businesses continue to play a pivotal role in Uganda’s economic development,” Balikuddembe said. “At Centenary Bank, we are proud to be your trusted financial partner, supporting your growth journey with solutions that enable you to focus on expanding your businesses while we take care of your banking needs.”
To meet the specific operational demands of Chinese investors, Centenary Bank has introduced several customized solutions over the years. These include reduced account transaction charges, preferential pricing for telegraphic transfers, competitive foreign exchange rates through its treasury team, and a secure corporate internet banking platform designed for remote transactions.
The lender also offers dedicated relationship managers, guarantees, letters of credit, cash-in-transit services, import financing, competitive deposit rates, and strategic support for regional and international trade. In addition, the bank recently introduced the Japanese yen to its trading currencies to give international traders greater flexibility.
Bank officials reported that these measures have helped attract new Chinese business clients over the past year, signaling increased confidence in the financial institution.
The annual dinner served as a platform for bank management and clients to discuss emerging market opportunities, evaluate evolving customer requirements, and explore strategies to strengthen cross-border trade.
China remains one of Uganda’s primary trading and investment partners, with extensive operations across manufacturing, energy, construction, and infrastructure. Bank officials noted that responsive commercial banking services remain essential to helping these businesses sustain operations and expand across borders.
Chinese investment and enterprise in Uganda have expanded past US$1 billion, transforming key sectors like infrastructure, manufacturing, and industrial parks. While driving local job creation and import substitution, this heavy involvement also sparks local debates regarding retail competition and long-term debt sustainability.
Chinese state-backed firms and contractors dominate Uganda’s major public works, financed largely through loans from institutions like the Exim Bank of China.
Major projects: Construction of the Kampala-Entebbe Expressway, the expansion of Entebbe International Airport, and major hydropower plants including Karuma and Isimba
In manufacturing and Industrial Parks,China is a core partner in Uganda’s push toward industrialization and local production under frameworks like the Uganda Investment Authority especially facilities in the Sino-Uganda Mbale Industrial Park, Liao Shen Industrial Park, and Namanve-based operations produce ceramics, steel, electronics, and plastics.
These factories employ over a million workers sector-wide, supporting import substitution by locally manufacturing goods previously bought from abroad
