The Uganda Investment Symposium has on Tuesday, 22 February 2022 opened at Kakyeka stadium in Mbarara City, with a call to companies and individuals to identify business opportunities that can enable Ugandans recover from the impact of the Covid-19 lockdown.
The Investment Symposium, which started on Monday, February 21, 2022, is sponsored by Uganda Development Bank (UDB) Ltd in association with the Operation Wealth Creation (OWC) programme.
Gen Salim Saleh, the national coordinator of OWC, who officially opened the two-day event on Tuesday, 22 February 2022, said Ankole Sub-region is at a stage of very serious production but no processing.
Ankole is at a stage of serious production but very limited processing. This with the help of Uganda Development Bank will change. OWC has linked the bank to you. Engage them on agro-processing,” Gen Saleh said.
“We (OWC) value our partnership with UDB, local govt, civic and political leaders as it helps deliver solutions through a consultative and deliberate process that implements President Museveni’s agenda and govt policies to revive the economy,” he added.
Run under the theme “The contribution of Financial Innovation to the resilience of the economy for sustained growth,” the two-day event seeks to identify business opportunities in the region, host business to business (B2B) engagements and convene leading local and national leaders on the question of financing for recovery and growth.
The event has been graced by speakers, including; Trade Permanent Secretary Geraldine Ssali, UDB managing director Patricia Ojangole, and Mbarara North MP Robert Mwesigwa Rukaari, among others.
There was a panel discussion on ‘Synergies between government, business, and the communities toward inclusive growth,’ moderated by Mr. Robert Kabushenga
“The regional symposium approach- it works! UDB and OWC conceived an idea of organizing regional symposia to strengthen the business communities,” Dr Rukaari said.
The organizers say at the end of the symposium, viable actions should emerge on how to put Ankole on a sustainable path to a vibrant economy that is a crucial part of the regional and national economy.
“As UDB, we are honoured to be a core part of the Greater Ankole Investment Symposium aimed at identifying business opportunities and building linkages that can enable a sustainable entrepreneurial ecosystem for Ugandans,” Ms Ojangole sad.
She said Greater Ankole, being economically vibrant and one of the fastest growing regions in the country, provides a springboard upon which innovative approaches, collaborations and practical actions to serve as an example for economic recovery after the pandemic
“As an Agro-based country, we require Start-ups for deploying sensors, large numbers of freelancers to develop and work in the fields, professionals for developing customized big data analytics. In the service sector, there is need for digitalized social services, E-classrooms , tele-medicine, demographic trends by the youth, innovation as an emerging trend,” she explained.
Ms Ojangole said there is a need to work together for the sustainability of the banks and embrace revolutionary innovative financing.
“It will help all of our focus on the same goals i.e. creating a better, strong inclusive high income and high-income economy. In Vision 2040, there is need to diversify industries, we also need resilience systems to ensure sustainable growth. Economic diversification across all sectors, Import Substitution, both products and services, Export-oriented industry through Standard R&Ds.”
Mr Patrick Musinguzi, the Isingiro district commercial officer, called for establishing of processing plants in Ankore.
“The potential areas of investment in this region are expansion and creation of industries, banana processing, wine making, and eco-tourism. We need a processing plant in the region,” Mr Muzinguzi said.
Dr Edward Kazire of Kazire drinks called for more investment in research.
“Research is key, research about how value crops are needed for international markets. We shall work and not sleep until we remove poverty. We are organizing a meeting for young minds to share ideas,” he said.
Prof. Pamela Mbabazi, Executive Chair of NPA, stated that ICT is virtual in the industrialization process of the Ankole region.
“We must fall in love with technology and also think about more than what has been talked about,” she said.
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