Equity Bank, in collaboration with the Confederation of Indian Industries (CII), has launched the India-Uganda Trade Mission, a two-day high-level event aimed at enhancing trade and investment between the two countries. Held in Kampala from October 22nd to 23rd, 2024, the mission brings together a delegation of Indian entrepreneurs and leading Ugandan business leaders, focusing on sectors critical to Uganda’s development and where India has proven expertise.
The mission targets industries such as healthcare, information technology, agriculture, energy, infrastructure, tourism, real estate, and defense. By fostering partnerships in these areas, the event aims to drive new investments and expand trade cooperation, ultimately boosting Uganda’s economic growth.
Throughout the event, participants will engage in a series of business-to-business meetings, panel discussions, and site visits to key industries. These exchanges are designed to promote technological innovations, boost investment flows, and encourage sustainable growth. The event also provides an invaluable platform for networking between Indian and Ugandan business leaders.
At the opening ceremony, Anthony Kituuka, Managing Director of Equity Bank Uganda, emphasized the significance of the trade mission, highlighting the bank’s commitment to fostering economic development in the region.
“Equity Bank is dedicated to promoting the socio-economic prosperity of Africa. We are excited to facilitate this platform, which enables the exploration of business opportunities and provides valuable market insights. This trade mission will inspire Indian private sector players to discover Uganda’s untapped potential, an opportunity Equity Bank has experienced firsthand,” Kituuka said.
He added, “The India-Uganda Trade Mission is about transforming lives and livelihoods. The business community is key to organizing resources, taking risks, and driving wealth creation. By gathering in Kampala, we are expanding opportunities for wealth creation and laying the groundwork to change the destiny of our people. Collaboration and partnership are the keys to moving Uganda forward.”
The trade mission aligns with Equity Group’s broader “Africa Resilience and Recovery Plan” (ARRP), which focuses on accelerating economic recovery and growth across the continent by targeting sectors with high potential. Key pillars of the plan include agriculture, extractive industries, manufacturing, logistics, trade, technology, and support for Micro, Small, and Medium Enterprises (MSMEs). Through ARRP, Equity Group has committed $65 billion to empower the private sector across East Africa and beyond.
Indian High Commissioner to Uganda, Upender Singh Rawat, hailed the initiative as a game-changer for both countries: “The India-Uganda Trade Mission is a tremendous opportunity to unlock new avenues of trade and investment that will have a lasting economic impact.”
State Minister for Investment and Privatization, Evelyne Anite, also expressed her gratitude to India for its continued investment in Uganda. She emphasized the potential for stronger partnerships between India and Africa, particularly Uganda, to drive mutual growth.
During the event, Minister Anite was honored with an award from Equity Bank in recognition of her loyalty as a customer and her ongoing support for the bank’s initiatives.
India is already one of Uganda’s top trading partners, and the India-Uganda Trade Mission aims to build on this foundation. The event provides a strategic platform for Ugandan businesses to tap into the vast Indian market and for Indian investors to explore Uganda’s emerging opportunities, laying the groundwork for a prosperous future.
