Ugandan SMEs Generate $4.6m In Eight Months

December 1, 2014 Editor Entrepreneurs, Management, Players, SME Heroes

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VENTURES AFRICA – Since 2009, the Uganda Export Promotion Board (UEPB) has been resolute in trying to build the competitiveness of 82 small and medium scale enterprises (SMEs). This has been done through a number of initiatives including the ‘Market Linked’ initiative that helps Ugandan products penetrate the regional East African market. These efforts are finally translating into significant results as the firms have generated an aggregate of $4.6 million in the first 8 months of this year.
This was disclosed by Mr Daniel Karibwije, UEPB’s Director for Trade Promotion and Public Relations, adding that select companies have been exposed to trainings on international marketing and linked with possible trade partners.
“Up to 82 companies have been on sales missions within
the EAC member states in addition to taking part in international marketing trainings. Through this programme, over 376 buyers have been identified in western Kenya, Rwanda, northern Tanzania and Burundi,” Karibwije said.
“At least 755 business appointments have been set up for Ugandan companies to discuss business with potential buyers. On average, each participating company has had 11 appointments with potential buyers in the market across the eight group sales missions that have been held,” he added.
Also, an alumni club has been established to coordinate efforts, promote sustainable trade and peer-to-peer learning all in line with the underlying theme of boosting competitiveness. As of now, the club has held three market-linked alumni meetings, the last of which was presided over by Amelia Kyambadde, Ugandan Minister of Trade, Industry and Cooperatives, who lauded the idea and advocated that more companies join in.
The overall strategy of the initiative is one that sees technical teams work with consultants to carry out elaborate market research in order to discover insights that prove useful in promoting buyer interest. Also, trade missions are executed, thus linking targeted potential buyers with ready sellers in business negotiations.
Speaking on the criteria required for the UEPB to support an SME, Mr Karibiwije said; “It will be possible for UEPB to support a company access any EAC market throughout the year based on specific parameters. One of the key factors is that the product must be manufactured in Uganda, and if agricultural, must bear a value addition component. Presently, there is a specific sales mission to Rwanda that will apprentice companies’ access to these markets more rapidly.”
SMEs continue to play crucial roles in every economy from creating jobs to contributing significantly to overall GDP. In Uganda, such firms contribute upwards of 30 percent of GDP while providing 70 percent of employment opportunities and 80 percent of manufactured output.