Chief Executives Urged To Lead Sustainably for A Better Future

Leaders of Ugandan corporate entities have been urged to take bold steps in leadership, to guide their organisations towards sustainable success. This call was made to Ugandan CEOs and top managers attending the 15th Annual CEO Forum, which was held today at Mestil Hotel and Residences in Kampala.

The Forum, held annually, gathers top executives and managers from various corporate entities to develop and exchange strategies for effectively leading their companies while adapting to changes in their operating environment.

Held under the theme: Only One Earth -Our Purpose and Mandate, the 15th Forum, called upon top corporate and government leaders to take decisive and innovative action towards a better tomorrow.

Ramathan Ggoobi, the Permanent Secretary of the Ministry of Finance, Planning, and Development, urged CEOs and key industry players to adopt a long-term perspective and take swift action in addressing sustainability challenges. In his address, Ggoobi emphasized the importance of proactive solutions by highlighting the ministry’s commitment to fostering sustainable development across the nation.

“Nationally, Uganda’s climate finance needs are estimated at USD 28.1 billion for the period 2023/24 to 2029/30. Uganda remains committed to both global and national sustainability frameworks, including the Sustainable Development Goals (SDGs), which have been integrated into the country’s National Development Plans and economic frameworks,” emphasized Ggoobi.

On the measures the Ministry of Finance is taking, he said “The Ministry of Finance and Economic Development has established a Climate Finance Unit to spearhead the coordination of mobilizing, accessing, spending, and tracking climate and green finance. Crucially, the Ministry has integrated climate change into all fiscal frameworks. Additionally, a National Climate Finance Strategy (2023/24 – 2029/30) has been developed with the goal of “enhancing mobilization, utilization, and tracking of climate finance for Uganda’s inclusive sustainable development and wealth creation”

“We also have a National Climate Change Act that mandates climate-responsive budgeting through the mobilization of both domestic and international climate finance. In addition, we now issue certificates of compliance to ensure that all public investments meet sustainability requirements. As a planet, the time to act is now if we are to see positive and sustainable outcomes,” he concluded

Stephen Mukasa, Country Team Leader, CEO Summit Uganda, urged CEOs, to turn their focus towards comprehensive solutions towards climate change to make a bigger impact.

Mukasa said “This year’s forum gives us, as leaders, the chance to really reflect on where we stand with the state of our planet—and take responsibility for it. The good news is, we’re not doing this alone. We’ve brought together some of the sharpest minds from different industries, and that gives us a real shot at making a difference. One of our main goals is to come together, build a solid plan to fight climate change, and make sure our efforts actually leave a lasting impact,” Mukasa emphasized.

“Last year, we made a pledge to start incorporating climate-conscious practices into our organizations as a first step. This year, we’re pushing ourselves further. The goal is to come up with a shared approach that we can all use to make a real impact across the industries we represent. By working together and streamlining our efforts, we believe we can slowly but surely start integrating these measures within our organizations. Over time, we hope this will lead to a real shift in how we think about and manage sustainability,” he added.

Dorcas Batwala Muhwezi, the General Manager, Customer Experience at MTN Uganda, encouraged other business leaders to step up and take immediate action in addressing climate change as true long-term success depends on embracing sustainability.

Muhwezi said, “As business leaders, we must recognize the crucial role the private sector plays in advancing Environmental, Social, and Governance (ESG) principles through innovation, investment, and sustainable practices. While we face challenges such as climate change and socioeconomic inequality, there are also significant opportunities for collective action. Urgent steps are needed to tackle challenge like climate change, poverty, gender inequality, and limited access to education and healthcare so we can create a more sustainable and equitable future.”

She added, “At MTN, we made a bold pledge to achieve net-zero emissions by 2040, setting science-based targets to reduce absolute emissions by 47% by 2030. This is not just a goal, but a commitment we are determined to uphold. In partnership with ATC Uganda, we’ve upgraded over 92% of our cell sites to run on solar power and lithium-ion battery storage, reducing our carbon footprint.”

Muhwezi concluded by emphasizing the crucial role leaders play in driving change, stating, “It’s incumbent upon us to ensure that businesses don’t just survive but thrive in ways that protect and preserve the environment for future generations.”

This year, the CEO Summit successfully partnered with Centenary Bank, MTN, QCIL, Abi Finance, NBS and National Water and Sewerage Corporation to bring top decision-makers together for a roundtable discussion on strategies to combat climate change.

The CEO forum was established to inspire thought-provoking discussions by bringing together business leaders to debate and exchange on the issues affecting the region’s economic development.

The CEO Summit is where growth-oriented Corporates challenge, catalyze and champion transformation. This is a platform for unparalleled gathering of the most influential regional Captains of Industry, CEOs, Entrepreneurs/ Business Owners, Development Partners and Investors since 2008.