KAMPALA, UGANDA – Equity Bank has launched a landmark trade mission aimed at strengthening business ties between Uganda and India, in a move expected to boost bilateral trade and investment.
The two-day event, which began on 22 October, brings together prominent business leaders from India and Uganda to explore potential collaborations in key sectors such as healthcare, information technology, agriculture, renewable energy, roads and transport, tourism, real estate and defence.
“We are excited to create a platform that facilitates networking, benchmarks business opportunities, and provides valuable market intelligence,” said Anthony Kituuka, Equity Bank Uganda’s Managing Director. “Equity Bank is committed to promoting the socio-economic prosperity of the people of Africa, and we believe this inaugural trade mission will inspire the Indian private sector players to explore Uganda’s untapped opportunities.”
Mr. Kituuka emphasized the importance of wealth creation through business partnerships, stating that “there is no better force for changing Africa than the business community”. He added that the trade mission was about supporting people for the common cause of transforming their lives and livelihoods and propelling the African continent towards greater prosperity.
The trade mission aligns with Equity Group’s Africa Recovery and Resilience Plan, an initiative aimed at accelerating economic growth and fostering resilience across the continent. The plan has allocated $65 billion to support and empower the private sector and business community in developing and expanding their operations.
Indian High Commissioner to Uganda, Upender Singh Rawat, hailed the initiative, saying: “By harnessing our combined strengths, we are opening new avenues for trade and investment that will create lasting economic impact.”
“The India-Uganda Trade Mission represents a tremendous opportunity for both countries,” High Commissioner Rawat added.
Mr. Kituuka noted that the trade mission was about supporting the people for the common cause of transforming their lives and livelihoods and propelling the African continent towards greater prosperity. “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.”
Equity Group Holdings Plc, a non-operating holding company, has a significant presence in East Africa with banking subsidiaries in Kenya, Rwanda, Tanzania, Uganda, South Sudan, and the Democratic Republic of Congo.
Analysts say the trade mission is a pivotal step in enhancing bilateral trade and investment opportunities between Uganda and India, with potential for long-term economic growth and development.
“This partnership has the potential to unlock new opportunities for businesses in both countries,” Mr. Kituuka reiterated.
The trade mission concludes on 23 October.
