Standard Chartered Hosts Investment Dialogue Highlighting Cross-Border Trade as Catalyst for Uganda’s Tenfold Growth Strategy
Held under the theme “Cross-Border Trade – Connecting Your Ambitions to Global Possibilities,” the event brought together more than 100 influential stakeholders, including government officials, private sector leaders, policymakers, regulators, development partners, and Standard Chartered clients
KAMPALA, May 23, 2025 –– Standard Chartered Bank Uganda yesterday hosted a high-level Uganda Investment Dialogue in Kampala centred on cross-border trade as a key driver of the country’s ambitious tenfold growth strategy, which aims to increase the gross domestic product [GDP] from US$ 50 billion to US$ 500 billion by 2040.
Held under the theme “Cross-Border Trade – Connecting Your Ambitions to Global Possibilities,” the event brought together more than 100 influential stakeholders, including government officials, private sector leaders, policymakers, regulators, development partners, and Standard Chartered clients.
The objective was to foster collaborative discussions on the transformative role of cross-border trade in realising Uganda’s Tenfold [10X] Growth Strategy. Discussions focused on unlocking opportunities in the agriculture, Trade, manufacturing and services [ATMS] sectors, as well as addressing the investment challenges they face. The dialogue also aimed to promote partnerships and networking between the public and private sectors.
Key speakers included Sanjay Rughani, CEO of Standard Chartered Uganda; Razia Khan, Head of Research, Africa & Middle East at Standard Chartered; Moses Bekabye, Technical Advisor for Economic Affairs at the Ministry of Finance, Planning and Economic Development; and Maria Kiwanuka, Chairperson of the Board and Independent Non-Executive Director at Standard Chartered Uganda.
A panel discussion, moderated by Charles Katongole, Executive Director and Head of Corporates at Standard Chartered Uganda, featured Kariuki Ngari, CEO of Standard Chartered Kenya and Africa; Stephen Asiimwe, CEO of the Private Sector Foundation Uganda; Anna Nambooze, Country Director at TradeMark Uganda; and Rola Abu Manneh, CEO of Standard Chartered UAE, Middle East and Pakistan, and Non-Executive Director at Standard Chartered Uganda.
The panel explored how Uganda can sustainably realise its 10X growth ambitions through targeted cross-border trade investments, capacity building, and overcoming challenges such as infrastructure deficits, regulatory misalignment, digital trade facilitation, and limited access to finance.
In his welcome address, Sanjay Rughani reaffirmed the Bank’s commitment to facilitating cross-border commerce and investment flows.
“Standard Chartered operates in over 53 markets across Asia, Africa, and the Middle East – regions home to some of the world’s fastest-growing trade corridors. Our global footprint and local expertise enable us to connect clients in Uganda to international markets. We offer tailored support through trade finance, foreign exchange, cash management, and advisory services designed for cross-border success.”
Moses Bekabye praised Standard Chartered for its commitment to Uganda’s economic transformation, describing the dialogue as a vital platform to align public and private sector priorities.
“The tenfold growth strategy envisions expanding our economy from US$ 50 billion to US$ 500 billion in just 15 years. Cross-border trade will be instrumental in achieving this goal. It is through partnerships such as these that we can build a more connected, competitive, and inclusive economy,” he noted.
Razia Khan provided a macroeconomic perspective, discussing global and regional economic trends. She noted that while global growth forecasts have moderated and trade uncertainties remain elevated, Sub-Saharan Africa [SSA] is poised for a recovery in 2025.
“Reform momentum remains critical for SSA’s growth. Despite global headwinds, the region’s largest economies, South Africa, Kenya, Nigeria, and Angola, are expected to lead a gradual and uneven recovery,” she said.
Khan also discussed the potential implications of a second Donald Trump presidency on Africa, highlighting that while direct impacts of US tariffs may be limited, indirect effects must be carefully considered. She noted that China’s lending to Africa is on the rise once again, albeit with new dynamics, having previously peaked in 2016.
She commended the Bank of Uganda’s anti-inflation measures, saying its efforts had ensured price stability and noting that the Ugandan shilling had outperformed regional currencies since 2020.
Looking ahead, Khan expressed optimism about Uganda’s economic prospects, pointing to the anticipated 2026 oil production as a catalyst for nearly 10 percent annual growth. However, she cautioned about the importance of prudent debt management.
The Uganda Investment Dialogue underscored Standard Chartered’s ongoing commitment to fostering thought leadership on national development priorities, accelerating sustainable growth, and empowering businesses to thrive in an increasingly interconnected global economy.
https://thecooperator.news/afdb-and-standard-bank-unite-to-support-smmes-and-boost-trade/
Buy your copy of theCooperator magazine from one of our countrywide vending points or an e-copy on emag.thecooperator.news
Views: 0
