Standard Chartered Bank Uganda has convened an investment dialogue to champion cross-border trade as a key driver of Uganda’s Tenfold (10X) Growth Strategy.
Held under the theme “Cross-Border Trade – Connecting Your Ambitions to Global Possibilities,” the Uganda Investment Dialogue brought together over 100 stakeholders, including government officials, private sector leaders, policy makers, regulators, development partners, and bank clients.
The event focused on unlocking Uganda’s economic potential through cross-border trade, particularly in agriculture, trade, manufacturing, and services. It also sought to strengthen public-private sector partnerships and explore investment opportunities.
Sanjay Rughani, CEO of Standard Chartered Uganda, emphasized the bank’s commitment to enabling regional and global trade. “Standard Chartered operates in more than 53 markets across Asia, Africa and the Middle East—regions that are home to some of the world’s fastest-growing trade corridors,” he said. “Our presence in key global financial hubs allows us to seamlessly connect clients in Uganda to international opportunities.”
He highlighted the bank’s tools and support, including digital platforms, trade finance, foreign exchange, cash management, and advisory services designed for cross-border success.
Moses Bekabye, Technical Advisor for Economic Affairs at the Ministry of Finance, Planning and Economic Development, praised the dialogue as a vital bridge between public and private sectors. “It is through partnerships such as these that we can create a more connected, competitive and inclusive economy,” he said.
Bekabye explained that Uganda’s goal is to expand its economy from USD 50 billion to USD 500 billion over the next 15 years. He noted that cross-border trade is central to realizing this target.
A key panel discussion led by Standard Chartered Uganda’s Executive Director and Head of Corporates, Charles Katongole, featured regional and sectoral leaders. These included Kariuki Ngari, CEO Standard Chartered Kenya and Africa; Stephen Asiimwe, CEO Private Sector Foundation Uganda; Anna Nambooze, Country Director Trademark Africa; and Rola Abu Manneh, CEO Standard Chartered UAE, Middle East and Pakistan.
The panel addressed challenges facing cross-border trade, including infrastructure gaps, regulatory barriers, financing constraints, and the need for digital trade facilitation and skills development.
Razia Khan, Head of Research for Africa and the Middle East at Standard Chartered, provided an in-depth economic outlook. She said Sub-Saharan Africa is likely to register stronger growth in 2025, driven by economies like Kenya, Nigeria, Angola, and South Africa.
“Reform momentum will still play a key role in SSA’s growth outlook,” Khan said, noting that Uganda is on track for accelerated growth—potentially reaching 10% by 2026—driven by oil production and increased spending.
She warned, however, that Uganda’s debt must be managed cautiously. She also noted that while U.S. trade policy changes may have limited direct impact on Sub-Saharan Africa, their indirect effects warrant close monitoring.
Khan commended the Bank of Uganda for maintaining price stability, saying the Uganda shilling has outperformed its regional peers since 2020.
The Uganda Investment Dialogue reaffirmed Standard Chartered’s role as a strategic partner in promoting trade and investment to power Uganda’s long-term economic transformation.
