Stanbic tips manufacturers on growth at Bank’s inaugural business forum

Stakeholders in Uganda’s manufacturing sector have called for stronger collaboration, innovative financing solutions and increased investment in value addition to unlock growth and enhance the competitiveness of locally made products across regional markets.

The call emerged during Stanbic Bank’s inaugural Business Forums hosted in Kampala under the theme, “From Farm to Shelf: Financing Growth Across the Value Chain.’

The forum drew participants across manufacturing, agribusinesses, policy and logistics to discuss practical solutions to challenges impeding their growth.

Despite being one of Uganda’s key economic drivers, manufacturing continues to face constraints that limit productivity, competitiveness and expansion. Industry players cited high production costs, limited access to affordable financing, dependence on imported inputs and weak value chain linkages among the major barriers to growth.

Opening the forum, Tunde Thorpe, Executive Head of Business and Commercial Banking at Stanbic Bank Uganda, said Uganda’s manufacturing sector is supported by strong fundamentals, including a robust agricultural base, growing domestic demand and access to regional markets.

“Yet businesses continue to face challenges ranging from high production costs and limited access to suitable financing to dependence on imported inputs and weak linkages across the value chain,” Thorpe said.

He noted that manufacturing contributes between 15 and 16.5 percent of Uganda’s Gross Domestic Product, while the broader industrial sector accounts for roughly a quarter of national output. The sector also supports more than one million direct jobs and contributes nearly 30 percent of the country’s tax revenue.

“These figures remind us that manufacturing is not just another sector. It is central to Uganda’s growth, resilience and competitiveness,” he said.

Participants agreed that unlocking the sector’s full potential will require stronger integration between farmers, processors, manufacturers, distributors and retailers to create efficient value chains and increase value addition, particularly in agro-processing and consumer goods manufacturing.

Patrick Joram Mugisha, Commissioner for Business Development and Quality Assurance at the Ministry of Trade, Industry and Cooperatives, emphasized the importance of value addition and industrial development in strengthening Uganda’s economy and creating employment opportunities.

He said increasing local processing capacity and strengthening domestic manufacturing would be critical to improving Uganda’s competitiveness within regional and international markets.

Agnes Mbabazi, Managing Director of Agrifarm Uganda Ltd, commended Stanbic Bank for creating a platform that brings together stakeholders across the manufacturing ecosystem to discuss solutions to common challenges.

She noted that access to affordable and appropriately structured financing remains one of the key requirements for businesses seeking to expand operations, invest in technology and increase value addition.

Allan Ssenyondwa, Director of Policy and Advocacy at the Uganda Manufacturers Association (UMA), called for innovative financing models, stronger public-private partnerships and supportive policies to help manufacturers overcome growth constraints and compete more effectively.

Meanwhile, Emmanuel Negombye, Head of Agribusiness at Stanbic Bank Uganda, highlighted the role of digital innovation, logistics and cross-border trade in strengthening agricultural and manufacturing value chains.

Negombye pointed to the bank’s OneFarm platform as one of the initiatives helping connect farmers, manufacturers and exporters, while improving market access and efficiency across the value chain.

“The OneFarm platform is helping strengthen linkages between producers and markets by bringing farmers, manufacturers and exporters into one ecosystem,” he said.

He added that Stanbic continues to support businesses through risk mitigation and insurance solutions designed to protect factories, employees and goods in transit, helping enterprises build resilience and operate sustainably.

While delivering closing remarks, Paul Muganwa, Stanbic Bank Uganda’s Executive Director, saluting all sector players noting that the forum was intended to move discussions beyond identifying challenges and towards practical interventions that can strengthen local production and position Ugandan businesses for sustainable growth.

“We have seen what is possible when manufacturers scale with ambition and the right support. Roofings Group, for example, has grown from strong local foundations into a major industrial player serving Uganda and the wider region. Its journey demonstrates the importance of access to the right financing partner, strategic investment and market opportunities,” Muganwa said.

He added that as Stanbic Bank marks 35 years of operations in Uganda, the institution remains committed to supporting the country’s industrialisation agenda.

“We see ourselves not simply as a lender, but as a partner for growth, supporting businesses with financing, market insights and the connections needed to move from production to processing, from processing to distribution, and from local success to regional scale,” he said.