Indigenous manufacturers under their umbrella body Uganda Manufacturers Association (UMA) have implored foreign investors to boost their capacity by organizing numerous trade fairs.
These goal oriented manufacturers have issued direct appeals to foreign companies operating in Uganda to organise a multitude of trade fairs, shows and exhibitions, tailored towards making their products gain national and international publicity, a step they said would enhance their quality and competitiveness on the global market.
This direct appeal was issued by the board Chairman UMA Mr. Deo Kayemba while addressing the press at UMA offices in Lugogo on Thursday.
This was in addition to receiving UGX. 150 million from TotalEnergies EP, to assist in organizing the 28th Uganda International Trade Fair 2022 slated for 3rd to 10th October, at Lugogo trade show grounds.
The funds are part of UGX. 450 million pledged to UMA, and set aside for facilitating trade fairs by TotalEnergies EP in a strategic Momorandum of Understanding (MoU) signed between the two entities on Thursday.
The trade fair which is expected to attract more than 300,000 exhibitors and visitors from within Uganda and abroad, will be graced by President Yoweri Museveni and Kenya’s newly sworn in President HE. William Ruto.
It will be organized under the theme “harnessing economic recovery through local sourcing and deepening value chain integration”.
“Boda boda riders spent a considerable period of time being locked in their homes without work during Covid 19 period, now a new innovation has been instituted and that is electric motorcycles, go to Kyebando, your motorcycle can easily be transformed from fuel powered to electric powered,” explained Mr. Deo Kayemba, and added;
“We have done many things here, initiatives that add value to our agricultural products have been undertaken, and if we maintain this trend, in about two to three years we will obtain huge amounts of money from our agricultural products here.”
“It is through this MoU that we have signed with Total that they will aid us to annually organise such trade fairs in a period of three years, giving us UGX. 150 million per year.”
He clarified that TotalEnergies EP is committed to building quality and quantity production capacity for indigenous manufacturers.
Mr. Kayemba said that as UMA, they were supplied with honest assurances that when a three year period elapses, the energy giant will come up with new initiatives aimed at strengthening the capabilities of these business minded personalities.
” They even promised us that if this MoU expires, they will think of instituting new strategies and pretty impressive inventions aimed at strengthening our innovativrness because they realised that UMA can bring together highly innovative and ideal minded business people capable of transforming the economy of Uganda to exciting standards,” Mr. Kayemba elaborated at length.
The Managing Director at TotalEnergies EP in charge of Marketing Daniel Mayeka said this cooperation with UMA is aimed at promoting manufacturers at local levels, by enhancing their production capabilities both in quality and quantity terms, vital for promoting a favourable balance of payment (BOP) position for Uganda.
This is not the first time TotalEnergies EP has undertaken serious steps to enhance innovativeness among small and large scale entrepreneurs in Uganda.
In August this year, the energy giant distributed start-up kits to Project Affected Persons (PAPs), in a compensation scheme aimed at boosting economic inclusivity for Buliisa residents.
On August 16th, TotalEnergies EP also signed an MoU with Makerere University to collaborate in skilling initiatives, targeting students at the institution’s different colleges.
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