By Kitts D.Mabonga
Kampala
The government has tasked the nation’s manufacturing sector to start seeking financial support from local financial institution to bolster their industries.
The call was made by the State Minister for Industry David Bahati, during the opening of a two-day financial symposium and mini-expo at the Uganda Manufacturers Association (UMA) main exhibition hall at Lugogo, Nakawa Division.
Participants in the event included financial institutions, government regulatory bodies and Ministries, Departments and Agencies (MDAs), policy makers, manufacturers, and the trading community.
![](https://eastafricangazette.com/wp-content/uploads/2024/05/DSC_1062-1024x685.jpg)
The symposium under the theme “Financing solutions for the manufacturing sector” was aimed at bringing together key stakeholders to deliberate on financing options available for the manufacturing sector in Uganda, spearheaded by the UMA.
In addition to looking at case studies of successful manufacturing financing modules, the high-profile event’s objectives included discussing opportunities and challenges in accessing financing for the manufacturing sector, exploring financial options available for the sector, and investigating potential public-private partnerships (PPPs) in financing this vital industry.
![](https://eastafricangazette.com/wp-content/uploads/2024/05/DSC_1074-1024x685.jpg)
The symposium also discussed the optimal financing mix for manufacturing businesses of different sizes, taking into consideration factors such as risk appetite, growth potential and industry specific requirements as well as different panelists sharing their insights on how businesses can identify and combine various financing options to best support their desired needs.
The UMA Board Chairman Deo J.B. Kayemba welcomed the minister and his entourage and briefed him on the status of the manufacturing sector in the nation.
![](https://eastafricangazette.com/wp-content/uploads/2024/05/DSC_1042-1024x685.jpg)
He noted that that this was timely was the nation prepares to host the 2024 UMA international trade fair, which brings together thousands of manufacturers, industry players, and stakeholders to share new technological advancements and networking opportunities.
He went to commend the financial intuitions and government statutory bodies that turned up such as Bank of Uganda, Uganda Development bank [UDB],Centenary, Stanbic, Uganda Bankers Association, DTB Bank, NCBA Bank and Uganda investment authority, Capital markets authority [CMA] among others.
![](https://eastafricangazette.com/wp-content/uploads/2024/05/DSC_1062-1-1024x685.jpg)