In a groundbreaking collaboration, DHL, a renowned logistics industry leader, joined forces with Absa Bank Uganda to launch the ‘Growing Beyond Borders’ Entrepreneurial Training Programme.
This transformative initiative has successfully trained over 200 Small and Medium Enterprises (SMEs) in Jinja, equipping them with the necessary skills to tap into lucrative international trade opportunities.
Recognizing that many SMEs primarily focus on domestic markets, the program aims to address the information gaps and limited resources that hinder their expansion into global markets.
Steven Kateihwaho, the Commercial Director of DHL Uganda, emphasizes the significance of this initiative, stating, “These challenges limit SME growth, and therefore, this program will empower businesses to explore external markets and seize untapped opportunities.”
At its core, the program seeks to empower Ugandan SMEs by enhancing their understanding of the economic potential of international trade and the array of benefits it offers.
The program’s impact extends far beyond Jinja, as it is set to roll out nationwide across seven cities, including Masaka, Mbale, Mbarara, Lira, Arua, and Kampala.
Musa Jallow, the Retail and Business Banking Director of Absa Bank Uganda, highlights the importance of collaboration in driving economic growth.
He affirms, “Through this program, we intend to bridge the gap that isolates SMEs from markets, opportunities, and access to capital. This work is best done through partnerships and collaboration, hence our alliance with DHL.”
The workshop model, offered free of charge, delves into the intricacies of importing and exporting in new markets. It provides invaluable guidance on identifying key geographical opportunities for specific products and services, exploring diverse marketing avenues, and establishing long-term relationships with target customers for sustainable success.
Uganda, despite its immense potential, faces trade imbalance challenges, hindering the competitiveness of its goods in international markets. Factors such as low quality assurance, failure to meet global standards, high exportation costs, and financing difficulties pose obstacles for local businesses.
However, through this program, DHL Uganda’s Commercial Director, Steven Kateihwaho, affirms their commitment to supporting SMEs in developing export-ready products and establishing global linkages.
Recognizing the pivotal role of financial institutions, Absa Bank Uganda offers essential financial services and expertise to facilitate the movement of goods, services, and capital across borders.
Musa Jallow emphasizes, “At Absa, we believe in optimizing opportunities for international trade, leveraging the rapid growth of e-commerce.
We have tailored financing solutions that meet the unique needs of SMEs, including unsecured loans, vehicle and asset financing, and trade finance services such as letters of credit.”
With this collaborative effort between DHL and Absa Bank Uganda, Ugandan SMEs are poised to break barriers, expand their horizons, and thrive in the global marketplace.