Trade Frontier Fund launched to help exporters access working capital
The President thanked the committee on exports for finding ways to leverage and match the funds given to them and for connecting with scientists to commercialize their findings with the private sector.
President Yoweri Museveni during the maiden quarterly address to the country at State House Entebbe on Wednesday launched the Trade Frontier Fund (TFF) which will help exporters to underwrite their invoices and provide them with working capital.
The President thanked the committee on exports for finding ways to leverage and match the funds given to them and for connecting with scientists to commercialize their findings with the private sector.
He said the Private Sector Foundation, the UNDP and others have joined the effort to increase the country’s exports, drive manufacturing and industry and support private companies.
At the meeting, Museveni welcomed a delegation from the Republic of Serbia led by their Minister of Trade Tonislav Momirovic and thanked them for choosing Uganda as a partner to improve trade relations.
The meeting was organized by the Presidential Advisory Committee on Exports and Industrial Development (PACEID) headed by Odrek Rwabwogo, which brings together all trade representatives, allowing them to network, learn and build strategies with Uganda’s private sector local input.
The meeting was also attended by Prime Minister Robinah Nabbanja; Martin Mugara, the Minister of State for Tourism; Harriet Ntabazi, the Minister of State for Trade; Deputy Attorney General, Jackson Kafuzi, David Bahati, Dr Monica Musenero and private sector exporters in the key 13 products.
On March 28, 2023, Museveni met exporters in the 13 product categories that the advisory committee on exports is targeting to raise USD6bn in the next five years. These were Coffee, Fruits, vegetables, Flowers, bananas, dairy, beef, sugar, cement, steel, tourism, poultry, fish and grains.
