Uganda is charting a bold new course for inclusive economic growth, with a particular focus on empowering women in trade and nurturing future generations of entrepreneurs. The Breaking Barriers to Trade conference, held in Kampala on Tuesday, served as a powerful convergence of business leaders, policymakers, and change-makers, all committed to unlocking Uganda’s immense potential on the global stage.
The prestigious event was graced by high-profile dignitaries, including the Minister of Energy and Mineral Development, Dr. Ruth Nankabirwa, the British High Commissioner to Uganda, Lisa Chesney, MBE, alongside numerous partners and champions of women-led trade, among them Baroness Sandy Verma.
According to Sanjay Rughani, CEO of Standard Chartered Bank Uganda, and Chair of the British Chamber of Commerce Uganda, the conference delved into two compelling themes: “The Global Shift: What ambitions and insights are needed to make Uganda globally competitive in the years ahead?” and “Intergenerational Teams: As workplaces evolve, how can we learn and grow together across generations?”
These themes, Rughani noted, underscore Uganda’s forward-thinking approach to integrating into the global economy while leveraging its demographic dividend.
At the heart of this transformative effort is Baroness Sandy Verma, founder of the Global Investment Conference (GIC), whose consistent leadership and advocacy have been key in powering the “Breaking Barriers to Trade” platform, not just in Uganda, but also globally.
Her vision continues to inspire action, inclusion, and robust partnerships across both public and private sectors.
Building a More Inclusive Trade Ecosystem
Speaking from his vantage point as Chair of the British Chamber of Commerce Uganda, Rughani outlined four critical areas where sustained support will be channelled to drive this initiative, and these include:
Clarity on Market Access
He noted that the core focus is on enabling entrepreneurs, especially women, to seamlessly connect with new and lucrative international markets. Despite accounting for approximately 3.9 million women in agriculture and up to 70% of informal cross-border trade in Africa, Ugandan women entrepreneurs often face significant challenges in accessing formal export markets due to limited information, logistical challenges, and compliance complexities. This initiative aims to demystify market entry and expand global reach.
Roadmaps for Logistics and Compliance
The conference emphasised the need for smoother and more predictable trading environments. This, according to Rughani, aligns with crucial UK-funded initiatives that are actively enhancing trade infrastructure and digital customs systems across East Africa, drastically reducing time and cost for cross-border trade.
He cited an example of the UK and TradeMark Africa’s partnership, which has led to substantial reductions in both the cost and time required for cross-border trade in Uganda.
Policy Advocacy and Partnerships
He noted that through strong alliances with key entities like the Private Sector Foundation Uganda (PSFU), Uganda Revenue Authority (URA), TradeMark Africa, Bank of Uganda, and the Uganda Investment Authority (UIA), robust advocacy efforts will push for reforms that make trade more inclusive and competitive.
He lauded the UK for its continued support through TradeMark Africa and other development partnerships, saying it has been vital in driving these reforms forward, fostering an enabling environment for all traders.
Amplifying Uganda and Africa’s Story
Rughani revealed that a concerted effort will be made to celebrate successes and raise the visibility of Uganda’s trade potential on the international stage. This is a collaborative endeavour, especially in close partnership with the British High Commission, which has been a dynamic and integral part of this journey, championing inclusive trade and investment.
Youth and Women Empowerment Initiatives
In his capacity as CEO of Standard Chartered Uganda, Rughani also highlighted the bank’s long-standing commitment to youth empowerment through its ‘Future Makers’ initiative. This includes:
The rollout of RISE-E, a groundbreaking program designed to create employment for 270 youth with disabilities through entrepreneurship and skills building.
The 10th anniversary of the GOAL Program, which has successfully equipped over 480,000 girls and young women in Uganda with essential life skills and financial confidence, empowering them to participate more fully in the economy.
These initiatives, he said, underscore a profound belief that by investing in women and youth, Uganda can unlock its full economic potential.
“When women thrive, communities rise. When trade flows, nations grow,” Rughani concluded, summing up the powerful vision that emerged from the conference.
The Breaking Barriers to Trade conference signals Uganda’s strategic intent to not only overcome historical trade challenges but also proactively build an inclusive, digitally-enabled, and globally competitive trade ecosystem.
By focusing on women’s empowerment and intergenerational collaboration, Uganda is setting a powerful precedent for sustainable economic growth and a brighter future for all its citizens.