ABC 2022: Bankers Association set to hold annual conference on financing manufacturers, tourism and agro-business.
Drake Nyamugabwa
The Uganda Bankers Association (UBA) an organisation umbrella organisation for financial institution and partners will hold the 5th Annual Bankers Conference (ABC) 2022 on 25th -26th July 2022 in Kampala, aimed at discussing the financing support towards the recovery and growth of the manufacturing, tourism, and agri-business sector as key sectors driving economic growth.
The theme of the conference is: Bridging financing gaps in the manufacturing, tourism and agri-business sectors to catalyse economic recovery and growth post 2021. Are financial institutions up to this task and responsibility?
The Chairman UBA Sarah Arapta, during a press conference held at the associations head office in Muyenga Kampala, while announcing the conference said that this year’s choice of discussion focusing between financial services providers and players in the manufacturing, tourism and agri-business sectors is hinged on the current economic outlook that has continue to deteriorate especially in the quarter ending April 2022, which she is optimistic the conference will connect the missing dots.
“The economic outlook deteriorated following 2021 occurrences of disease, low economic activity. In 2022 starting from February the was a positive outlook, nut the quarter ending April 2022 indicated slow activities in the industry, service sector and consumer where the macroeconomic environment is characterized escalating prices, inflation. This year’s conference will aim to facilitate a focused discussion in financing gaps existing in manufacturing, tourism and agri-business” she said
Sarah said that the conference focus on the above 3 sector because they play key roles in the in contributing to the economic growth of the country with their related linkages with other players.
She highlighted that the achievements that the conference aim to realize included: a stock of financial gaps and other challenges, how ready are borrowers of difference financing models, evaluation of how financial institution can bridge the financing gaps, formulate financial approaches among others.
The executive Director UBA Wibroad Owor in his remarks said that in order for the selected sector to maintain growth, manage risk, resilience, and survival, there is need to leverage on the financial economy to ensure flow of other activities which he said have economic linkages while aligning them with government development agenda to move together.
The manufacturing sector consumes 66.7% of power generated in Uganda, employs over 1.3 Million people, contributes 15.4% to GDP, 19% of total exports to the global market and 14% of tax revenue is collected for the same sector, while the hospitality and tourism sector is a major source of employment, government revenue and foreign exchange.
The Annual Bankers Conference that started in 2017 and is now a signature industry event on UBA’s calendar that brings together regulators, practitioners & various industry experts from international, regional and national spheres involved in facilitating and delivering financial and banking services, to discuss issues, trends, drivers and the dynamics that are increasingly shaping sustainability strategies in banking, finance & the overall development ecosystem.
