Uganda-South Africa Trade and Investment Summit to foster economic ties

Uganda-South Africa Trade and Investment Summit to foster economic ties

Stakeholders in a group photo (PHOTO/Courtesy).

KAMPALA – MTN Uganda in collaboration with major South African businesses in Uganda and local institutions is organizing Uganda-South Africa Trade and Investment Summit to foster economic ties between the two nations.

During a press briefing at the Kampala Serena Hotel, Ms. Mulinge Sylvia M.B.S, CEO of MTN Uganda, highlighted MTN’s endorsement of the event in response to President Yoweri Museveni’s call.

Mulinge underscored the power of collaboration between the private sector and government in achieving social and economic transformation for national development.

Trade statistics were also presented, revealing Uganda’s consistent growth in exports to South Africa, reaching $21.24 million in 2022.

However, South Africa’s exports to Uganda declined from $251.6 million to $127.6 million over the same period.

Notable items in Uganda’s exports to South Africa include cotton, gold, fish fillets, tobacco, coffee, and fresh flowers, while South Africa’s exports to Uganda encompass machinery, vehicles, plastics, chemicals, electronics, petroleum, and various goods.

On Wednesday, dfcu Bank was announced as a key strategic partner for the upcoming Summit, scheduled for September at Speke Resort Munyonyo.

Charles Mudiwa CEO of dfcu Bank, emphasized the bank’s commitment to advancing Uganda’s economy.

He highlighted the bank’s history as a development financing entity and its dedication to supporting investments that contribute to economic growth.

Notably, dfcu Bank has invested significantly in sustainable agriculture and women entrepreneurs, aligning with its purpose of transforming lives and businesses in Uganda.

Charles traced the bank’s journey since its establishment in 1964, outlining its contributions to industrial advancement, business nurturing, and positive impact on countless lives.

In light of the summit’s focus on South African and Ugandan business synergies, dfcu Bank pledged to facilitate collaborations by providing financial advisory services, capital access, and networking platforms.

Source: PML Daily

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