SME Participation In Oil Sector Encouraged

Dr Elly Kuruhanga of the Uganda Chamber of Mines has this week called on Small and Medium Enterprises (SMEs) to prepare to take advantage of investments in the oil and gas sector. 

SMEs are estimated to contribute somewhere between 40 to 50 per cent of Uganda’s gross domestic product.

 Addressing industry at a Stanbic Bank enterprise conference in Kampala Dr Kuruhanga encouraged firms to form partnerships so as to build capacity.

Stanbic head of enterprise banking Stephen Segujja also spoke about the opportunities that existed given that the oil sector is set to attract investments worth $20 billion. 

“The SMEs are eager to be in this space and we are here to support them with the capital they may need,” Segujja stated.

“It is important to prepare SMEs to help them tap into these opportunities, win contract and be part of the value chain that is going to deliver first oil,” he added.