KAMPALA, UGANDA – Absa Bank Uganda and DHL Uganda have announced a partnership to support 800 Small and Medium Enterprises (SMEs) in accessing export markets through the 2024 ‘Growing Beyond Borders’ Entrepreneurial Training Programme.
The programme aims to empower SMEs by enhancing their understanding of the economic potential of international trade and its benefits. SMEs tend to focus predominantly on domestic markets, neglecting lucrative opportunities for international trade due to a lack of information and limited abilities to invest in market research, logistics, compliance, and marketing.
“SMEs tend to focus predominantly on domestic markets, neglecting lucrative opportunities for international trade. This is often due to a lack of information, and limited abilities to invest in market research, logistics, compliance, and marketing. These challenges limit SME growth and therefore this programme will enable businesses to look into external markets for opportunities,” said Joseph Odole, Country Manager, DHL Uganda.
The free-of-charge workshop model explores importing and exporting in new markets, guides how to find key geographical opportunities for the business’ specific products and services, and how to identify different marketing avenues and ways to build long-term relationships with their target customers for long-term success.
“To drive economic growth, we are aware of the need to provide entrepreneurs with essential business development services to grow their businesses. Through this programme, 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 this partnership with DHL,” said Musa Jallow, Retail and Business Banking Director, Absa Bank Uganda.
The programme is being scaled up by Absa to reach 800 SMEs, following a successful pilot programme run by DHL that attracted participation from 30 SMEs across sectors, with some earning average revenues between USD 5,000 to USD 18,000.
Uganda continues to face a trade imbalance challenge, and Ugandan products meant for export markets often face challenges that limit competitiveness, including low-quality assurance, failure to meet international standards, high exportation costs, and financing difficulties.
Banks play a key role in providing various financial services and instruments that facilitate the movement of goods, services, and capital across borders. As a pan-African bank with global reach, Absa is well-positioned to provide essential financial services for cross-border trade, including managing risks, facilitating payments, and offering expertise on international trade.
This partnership aims to bridge the gap that isolates SMEs from markets, opportunities, and access to capital, driving economic growth and empowering entrepreneurs to grow their businesses.
