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Mbarara, Uganda | THE INDEPENDENT | Ankole traders have voiced concern about their limited knowledge of E-business, which they believe is hindering their growth and competitive edge compared to other traders across the country.
Fred Kimbareba, the President of the Mbarara Small Manufacturers Association, expressed that E-business technology has not yet been widely adopted in the region. He highlighted the need for increased awareness about E-business but also noted a prevalent fear of fraud associated with it.
Stephen Mastiko, another trader in Mbarara, mentioned that E-Business was a new concept to many in the area.
A recent survey by the Mbarara City Traders Association (MBACITA) found that over 70% of small and medium-sized enterprises (SMEs) in the region lack knowledge of online business tools and strategies.
Simon Sezi Mwijuka, the chairman of MBACITA, noted that most traders, especially those who started their businesses in the 1990s, are unfamiliar with E-Business. The survey also revealed that awareness of E-business is higher among those who entered the industry from 2016 onwards.
Edward Nsabwe, the Digital Products Manager at Absa, observed that despite the slow uptake of E-business, there has been a notable increase in digital banking among SMEs. He explained that business owners are increasingly aware of the risks associated with holding large sums of money, particularly with rising crime rates. To mitigate these risks, businesses are utilizing digital banking channels to deposit money conveniently.
Nsabwe also noted a rise in digital payments, which is reducing the need to move large sums of money for transactions. This shift has encouraged consumers to adopt digital payment platforms as well.
E-business, or Electronic Business, involves conducting online business processes using the Internet. According to the Ministry of Information and Technology, e-commerce revenue is projected to grow annually by 17.6%, reaching a market volume of USD 421 million by 2025, with user penetration expected to hit 29.1% by the same year.
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