Equity Bank brings together Indian and Ugandan trade expertise

Equity Bank and Confederation of Indian Industries launch the India-Uganda trade mission to boost bilateral trade and investment opportunities

🟥DAY 1⃣ 🇺🇬🇮🇳

✳️ Kampala Serena Hotel

• The India-Uganda Trade Mission is a pivotal step in enhancing bilateral trade and investment opportunities between Uganda and India.
• Key sectors such as healthcare, IT, agriculture, and renewable energy will be explored for potential growth and collaboration.
• The trade mission aligns with Equity Group’s Africa Recovery and Resilience Plan, which focuses on key sectors to accelerate economic growth and promote resilience across the continent.

Kampala, Uganda | LOUIS JADWONG & AGENCIES | Uganda’s Investment Minister Evelyn Anite has described as ‘incredible and unstoppable’ the combination of Indian and Ugandan expertise in investment and trade. “You have the expertise and technology, we have the resources. If we teamed up, we would be unstoppable,” she said as she opened the India-Uganda Trade Mission in Kampala.

Equity Bank, in partnership with the Confederation of Indian Industries (CII), today officially kicked off the India-Uganda Trade Mission in Kampala, a two-day event which brings together a delegation of entrepreneurs from India and leading Ugandan business stakeholders to strengthen bilateral trade between the two nations. The event runs from 22-23 October.

“There is no better place to invest in Africa than Uganda, blessed with vast natural resources. India is heavily investing in Uganda and exporting minerals, coffee, cocoa… Come and add value to our products,” Anite said.

The trade mission focuses 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.

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.

Through a series of business-to-business meetings, panel discussions, visits to select industries and networking opportunities, participants from both countries will have the chance to engage in meaningful exchanges that could drive technological innovations, investment flows and sustainable growth.

At the opening ceremony of the trade mission, 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.

Our Managing Director Anthony Kituuka was the next speaker as he introduces Equity Bank,

“Equity Bank’s approach is driven by three core engines: economic, social, and sustainability. The bank prioritizes financial empowerment, community engagement, and long-term… pic.twitter.com/zwgLGm5UWy

— Equity Bank Uganda (@UgEquityBank) October 22, 2024

Taking to the podium next, we had Aditya Ghosh, Deputy Director (Africa), Confederation of Indian Industry (@FollowCII) who provided an overview of the organization,

“The Confederation was established in 1895 and has a history spanning 128 years. Initially focused on… pic.twitter.com/zKIvZpm8TV

— Equity Bank Uganda (@UgEquityBank) October 22, 2024

@ugandainvest‘s message to you is: You’re in the right place (Uganda) & at the right time. We’re ready to handhold you through your investment journey – Ag. Director of Investment Promotion & Biz Development Peter Muramira to visiting the multisectoral delegation from India. pic.twitter.com/S5wT9UcvbE

— Uganda Investment Authority (@ugandainvest) October 22, 2024

He added, “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 assemble 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 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.