In abid to attract more investment in Uganda, Equity Bank, in partnership with the Confederation of Indian Industries (CII), held India-Uganda Trade Mission in Kampala.
This two-day high-level event, from 22nd to 23rd October 2024, brought together a delegation of entrepreneurs from India and leading Ugandan business leaders to strengthen bilateral trade between the two nations.
The trade mission focused on key sectors including health, information technology, agriculture, energy, roads and transport, tourism, real estate and defence – industries critical to Uganda’s development and India’s expertise. The mission aims to foster new partnerships, increase investment, and enhance trade cooperation between India and Uganda.
Through a series of business-to-business meetings, panel discussions, visits to select industries and networking opportunities, participants from both countries had chance to engage in meaningful exchanges that could drive technological innovations, investment flows and sustainable growth.
Equity Bank Uganda Managing Director, Anthony Kituuka expressed delight in hosting this important event, which aims to connect Uganda and India for exploring investment opportunities and fostering long-term business partnerships.
“Equity Bank is committed to promoting the socio-economic prosperity of the people of Africa, and we are excited to create a platform that facilitates networking, benchmarks business opportunities, and provides valuable market intelligence, which are essential elements for driving growth and success in Uganda and the East African region. We believe this inaugural trade mission will inspire the Indian private sector players to explore Uganda’s untapped opportunities, which Equity Bank has experienced firsthand,” said Kituuka.
Adding, “The India-Uganda Trade Mission is about supporting our people for the common cause of transforming their lives and livelihoods and propelling the African continent towards greater prosperity. There is no better force for changing Africa than the business community. These are the people who organise our resources, take risks to deliver products and services to consumers and in the process, create wealth which is the real cure for African challenges is wealth creation. So, when we assembled in Kampala to expand opportunities for wealth creation, we are on course to change the destiny of our people. It is only through collaborations and partnerships that we progress and take Uganda to the next level.”
The trade mission aligns with Equity Group’s “Africa Resilience and Recovery Plan’ (ARRP), an initiative aimed at accelerating the continent’s recovery by targeting sectors that will drive economic growth and foster resilience against global headwinds. The pillars include food and agriculture, extractives, manufacturing and logistics, trade, investments, supporting Micro, Small, and Medium Enterprises (MSMEs), social and environmental transformation, and technology-enabled ecosystems. Through the ARRP Plan, Equity Group has allocated $65 billion to support and empower the private sector and business community in developing and expanding their operations across the East African region and beyond.
The Indian High Commissioner to Uganda, Upender Singh Rawat, said, “The India-Uganda Trade Mission represents a tremendous opportunity for both countries. By harnessing our combined strengths, we are opening new avenues for trade and investment that will create lasting economic impact.”
India is one of Uganda’s top trade partners, and the India-Uganda Trade Mission will build on this foundation by identifying new areas for collaboration. The event will provide a strategic platform for Ugandan businesses to tap into Indian markets and for Indian investors to explore Uganda’s growing opportunities.
Equity Group Holdings Plc is a non-operating holding company with banking subsidiaries in Kenya, Rwanda, Tanzania, Uganda, South Sudan and the Democratic Republic of Congo, a Commercial Representative Office in Ethiopia and non-banking subsidiaries in Kenya that are engaged in providing investment banking and stock-broking, insurance, custodial services, payment services and telecommunication services.
Equity Group Holdings Plc is listed at the Nairobi Securities Exchange and other regional exchanges with a market capitalization of USD 1.19bn. Equity Group Holdings Plc reported a consolidated asset base of KES 1.64 trillion (USD 11.7bn), deposits of KES 1.18 trillion (USD 8.4bn) and a customer base of over 18.4 million customers as of 30th June 2023. Equity Group has a footprint of 360 branches, 67,622 Agents, over 900,000 Pay With Equity (PWE) Merchants, 35,468 Point-of-Sale (POS) Merchants, 681 ATMs and an extensive adoption of digital and mobile banking channels.
