Standard Chartered Bank has today successfully hosted a high-level Uganda Investment Dialogue focused on Cross-Border trade as catalyst for 10X Growth Strategy.
Held under the theme: “Cross-Border Trade – Connecting Your Ambitions to Global Possibilities,” the dialogue brought together over 100 influential stakeholders including government officials, private sector leaders, policy makers, regulators, development partners and Standard Chartered clients.
The goal was to facilitate collaborative discussions on the transformative potential of cross-border trade in driving Uganda’s Tenfold (10X) Growth Strategy leveraging sectors like; Agriculture, Trade, Manufacturing and Services (ATMS). It also aimed to identify and discuss the investment opportunities and challenges within the ATMS sectors and facilitate networking and partnership-building between the public and private sectors.
The event had distinguished speakers who included; Sanjay Rughani the CEO Standard Chartered Uganda, Razia Khan the Head of Research, Africa & Middle East Standard Chartered, Mr. Moses Bekabye the Technical Advisor for Economic Affairs from the Ministry of Finance, Planning and Economic Development and Mrs. Maria Kiwanuka – Standard Chartered’s Board Chairperson and Independent Non-Executive Director.
The Panel discussion was led by Charles Katongole the Standard Chartered Uganda Executive Director & Head of Corporates. It also comprised of Kariuki Ngari the CEO Standard Chartered Kenya and Africa, Stephen Asiimwe – CEO, Private Sector Foundation Uganda, Anna Nambooze – Country Director, Trademark Uganda and Rola Abu Manneh – CEO Standard Chartered UAE, Middle East and Pakistan & Non-Executive Director for Standard Chartered Uganda.
The panel discussion explored how we can sustainably unlock the 10x growth strategy ambitions through cross border trade investment opportunities, capacity building, and the persistent challenges related to cross-border trade like infrastructure gaps, regulatory harmonisation, digital trade facilitation, and access to finance.
Sanjay Rughani, CEO, Standard Chartered Bank Uganda welcomed the guests and, highlighted the Bank’s role as a trusted partner in enabling cross-border commerce and investment flows.
“Standard Chartered operates in more than 53 markets across Asia, Africa and the Middle East – regions that are home to some of the world’s fastest-growing trade corridors. Our presence in key global financial hubs allows us to seamlessly connect clients in Uganda to international opportunities. We leverage our deep local knowledge, innovative digital platforms, and dedicated cross-border banking teams to support businesses with trade finance, foreign exchange, cash management, and advisory services tailored for cross-border success.”
While delivering his remarks, Mr. Moses Bekabye the Technical Advisor for Economic Affairs from the Ministry of Finance, Planning and Economic Development commended Standard Chartered for its commitment to supporting Uganda’s economic transformation and praised the initiative as a vital platform for bridging the gap between public and private sector priorities.
He discussed the Tenfold growth strategy and what expanding the size of the economy from USD 50 Billion to USD 500 billion in 15 years means and how cross-border trade can support this agenda and Uganda’s economic future.
He added: “It is through partnerships such as these that we can create a more connected, competitive and inclusive economy.”
Razia Khan the Standard Chartered Head of Research, Africa & Middle East on her part talked about the global and Uganda’s economic outlook highlighting various key issues around the global growth expectations being moderated since the beginning of this year, the trade uncertainty being at a multi-decade high, proving a drag on growth before delving into the outlook for Sub Saharan Africa (SSA) saying;
“Reform momentum will still play a key role in SSA’s growth outlook. Despite a still-difficult global backdrop, SSA growth is likely to rise in 2025 and an uneven recovery is likely to be driven by SSA’s biggest economies like South Africa, Kenya, Nigeria and Angola.”
She also delved into the implications of Trump 2.0 for Africa reassured us that the direct impact of US tariffs is likely to be limited to the SSA region however cautioned us to look out for the indirect effect. She highlighted that China’s lending to Africa is rising again and greater, having peaked in 2016 but this time, it is different.
She also delved into implications of the Trump 2.0 for Africa starting that the direct impact of U.S tariffs is likely to be limited in the SSA region but cautioned us to look out for the indirect effects.
She applauded Bank of Uganda’s anti-inflation credentials for having anchored price stability saying that the Uganda shilling has outperformed regional peers since 2020.
She was also optimistic about Uganda’s growth accelerating as spending ramps up with the first oil in 2026. Potentially Uganda will see close to 10.0% growth. She then cautioned against Uganda’s debt and the need to tread cautiously.
The Uganda Investment Dialogue underscored Standard Chartered’s continued commitment to convening thought leadership platforms that address national development priorities, accelerate sustainable growth, and empower businesses to thrive in the global economy.
