• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

“Banks need to partner with Tourism sector to unlock full potential”, says PostBank CEO

Watchdog Uganda by Watchdog Uganda
3 years ago
in Finance, News, Tourism, Travel
5 0
PostBank CEO Julius Kakeeto

PostBank CEO Julius Kakeeto

ShareTweetSendShare

By Michael Kanaabi Dollar

Julius Kakeeto the Managing Director and CEO PostBank Uganda has urged fellow top Executives in the Banking Industry and other related financial sector players to partner with Entrepreneurs and investors in the tourism sector to unlock it’s full potential.

While giving opening remarks for the final day of the annual Uganda Bankers Association Conference 2022, Kakeeto emphasized the need for more synergies and partnerships between the public sector, the banking industry and private players in the tourism industry in order for the sector to achieve it’s full potential.

“ With a good strategic plan for the industry already put together by Uganda Tourism Board for years 2021-2025, private sector players in the sector require adequate and timely financing structured competitively to meet their needs and grow the industry progressively” Kakeeto said.

With statistics showing that 90% of hotels which are key facilities for the growth and survival of the sector are in private hands 75% of which have indigenous owners, any additional financing to the industry will be a big boost to local investors and will generate a sizeable trickle down effect to other service providers, employees and dependent families too.

As of 2021, Kakeeto also the Uganda Bankers Association Vice Chairman notes that over 435 billion had been lent out by banks to the tourism sector excluding property development, a figure he suggests should go much higher with the full re-opening of the economy considering the big earnings potential the tourism industry has. The tourism industry pulled in over 1.6 Billion US Dollars to the National economy prior to the lockdowns in 2019 showing the potentially huge returns credit to the sector can generate.

Uganda Tourism Board Chairman Hon. Daudi Migereko emphasized the importance of tourism to the economy and directing credit to it having contributed up to 7.7% of GDP to the Ugandan economy pre-lockdown in 2019 while speaking to guests at the conference.

In addition Migereko commended Post Bank Uganda for financing investment in the Tourism sector when other banks and financial institutions were still skeptical urging other banks to follow suit given the immense potential the sector has with projections by the World Tourism and Travel Council showing the sector in Africa alone will grow by about 27.7% in 2022.

Stephen Assimwe the Private Sector Foundation Executive Director and former CEO of UTB noted that the tourism sector offers some of the best returns for investors and bankers given some tourists spend up to $7000 USD in a week while here.

“With tourists spending over 300$ a day per square metre of space on accommodation in top hotels which is much higher than the average rent in the city, banks should look no further when it comes to which sector to lend” he says.
Assimwe added that government needs to increase it’s direct expenditure on tourism significantly to have impact especially in international markets.

Email:michaelkanaabi@gmail.com


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com


Mashable is a global, multi-platform media and entertainment company For more queries and news contact us on this Email: info@mashablepartners.com
Share1Tweet1SendShare

Related Posts

Business

Rotary District 9214 Kicks Off 2025/26 with Unity and Impact at Speke Resort Munyonyo

9th July 2025 at 14:11
National

NRM’s Kasolo Vows to Seize Kampala, Mukono, Butambala Seats in 2026 Elections

9th July 2025 at 13:20
News

NRM youths once again beat NUP with 90% victory in Kassanda district, MPs Kabuye, Nsamba fear for their seats

8th July 2025 at 11:13
Next Post
Security commanders during a press briefing

Sub county chairperson, District Councilor held over GISO's murder

  • Prostitution in Uganda- Courtesy Photo

    10 dangerous hotspots known for prostitutes in Kampala

    1121 shares
    Share 448 Tweet 280
  • Silent Billionaire Bosco Muwonge Buys Mukwano Arcade at UGX 250 Billion Cash Down

    47 shares
    Share 19 Tweet 12
  • Who is Bosco Muwonge, Uganda’s elusive real estate billionaire?

    34 shares
    Share 14 Tweet 9
  • LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

    2288 shares
    Share 915 Tweet 572
  • Uganda’s Billionaires 2025: Once Again Sudhir Ruparelia Leads a Resilient Pack

    47 shares
    Share 19 Tweet 12
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

Rotary District 9214 Kicks Off 2025/26 with Unity and Impact at Speke Resort Munyonyo

9th July 2025 at 14:11

NRM’s Kasolo Vows to Seize Kampala, Mukono, Butambala Seats in 2026 Elections

9th July 2025 at 13:20

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is the undisputed king of Kampala

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0

Rotary District 9214 Kicks Off 2025/26 with Unity and Impact at Speke Resort Munyonyo

9th July 2025 at 14:11

NRM’s Kasolo Vows to Seize Kampala, Mukono, Butambala Seats in 2026 Elections

9th July 2025 at 13:20

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda