Register your businesses to benefit from oil & gas sector, Masindi locals told

MASINDI– Proprietors of small and medium enterprises [SMEs] in Masindi district have been advised to formalise their businesses if they are to benefit from the different oil & gas sector opportunities available in the oil-rich Bunyoro Sub-region.

“People have good businesses but they’re missing out from benefiting from the oil sector because the businesses are not registered.  Every partner, government, and companies are dealing with registered businesses. At least register them with the local governments,” Francis Kabuye from the Federation of Small and Medium-sized Enterprises Uganda [FSMEU].

He was speaking  on Friday during a networking symposium organised by TotalEnergies Limited in partnership with E360 at Kolping Hotel in Masindi town.

TotalEnergies is implementing the Tilenga Project expected to produce 190,000 kboed at plateau from the 6 fields of Ngiri, Jobi Rii, Gunya, Mputa-Nzizi-Waraga, Kasemene-Wahrindi, Kigogole-Ngara, Nsoga and Ngege fields. Over 400 oil wells will be constructed on 31 well pads to produce oil & gas resources.

Kabuye noted about 60 percent of the businesses in Uganda are not formalised, adding, “This is a very big challenge.”

He said failure to formalise has made some businesses in Masindi district miss out on certain opportunities in the oil & gas sector as the country prepares to produce its first oil by 2025.

He further said FSMEU has embarked on the process of training different SME owners on how to use phones to access different services which can make their businesses visible in the oil & gas sector.

“Many suppliers in the oil & gas sector need to be sensitised on networking, registering their businesses, financial sourcing and management as well as production of quality products,” he said.

The symposium in Masindi was attended by representatives from government agencies such as Uganda Revenue Authority [URA], Uganda Registration Bureau [URSB], Petroleum Authority of Uganda [PAU], representatives from different commercial banks, commercial officers from Masindi district and the Municipality.

However, some people expressed their disappointment over the government’s failure to decentralise some services, arguing that it is costly to travel to Kampala to access them.

“I want to commend you for coming down to inform us of different available opportunities. Our challenge has been the lack of adequate information. I also thank you for bringing these people nearer to us,” said Justus Balinda.

Zaina Muhindo, a community development officer Masindi, challenged the farmers and other business owners to add value to their products in order to earn more money.

Moses Kalyegira, the district commercial officer Masindi urged the different businesses to form cooperatives such that they can have the capacity to supply goods but also have greater bargaining power.

“We are bringing together suppliers whom we have been working with to explain to them the available opportunities. We also need them to network amongst themselves,” Kalyegira noted.

Rosette Komugisha, the National Content Leader at TotalEnergies Limited, said they are engaging and training suppliers in the districts of Masindi, Kikuube, Hoima, Pakwach, Nwoya, and Buliisa to help them meet the standards, access different opportunities, and also enable them network, among others.

She also encouraged individuals, company owners, and other categories to register on the National Supplier Database [NSD] in order to compete with other companies in the oil & gas sector. The NSD is managed by PAU.

“The oil & gas sector is an amplifier of different economic activities.  If you strategically position yourselves you will be able to benefit. The opportunities are massive,” she explained.

She also warned the suppliers against exaggerating the prices, saying the prices should be competitive.

https://thecooperator.news/reaping-from-oil-and-gas-bunyoro-suppliers-call-for-special-treatment/

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