Friday, May 23, 2025
UG Standard - Latest News
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us
  • Login
UG Standard - Latest News
Your browser does not support the video tag.
ADVERTISEMENT

Trade Frontier Fund seeks to generate UGX 22.5trillion in Exports

by OUR REPORTER | UG STANDARD
24/04/2023
in News
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter
Led by Vice Chair Sarah Kagingo, at State House Entebbe, PSFU signed a Trade Frontier Fund MoU with State, Technologu and Innovation Secretariat.

KAMPALA —In a move to boost exports and close budget funding gaps, Uganda has rolled out the Trade Frontier Fund (TFF) with an ambitious target of generating an additional USD 6bn (about UGX 22.4tn) in exports over the next five years.

Launched by President Museveni last week, TFF is an innovative program designed to facilitate and support the growth of exports in Uganda. Through the TFF, returnable resources will be made available to the private sector to support various aspects of the export process, such as invoice factoring, working capital, recapitalization, research and development, and value addition. TFF will target Tourism and Agriculture sectors with special focus on Coffee, Diary, Fruits and Vegetables, Flowers, Sugar, Poultry, Beef and Fish.

Related posts

The accused person (standing) in court on Tuesday as they read for him the charges. Courtesy photo

Former Lira district Councilor remanded over charges of Conspiracy to defraud

20/05/2025
167
Amb. Milton Kambula, President Global Peace Foundation (GPF)

2026 Elections: Amb. Kambula urges Ugandans to Desistfrom Political, Tribal Divisions

20/05/2025
165
Deputy Chief Justice Dr. Flavian Zeija being welcomed by Acting Chief Registrar, Pamella Lamunu and Judiciary Public Relations Officer, Eremye Mawanda on Thursday.

Judiciary extends service closer to people on Buvuma Court open day

18/05/2025
167
The acused in dock on Friday. (Courtesy photo)

Advocate charged and remanded over Forgery

17/05/2025
270

“The Trade Frontier Fund will help exporters to underwrite their invoices and provide them with working capital. We will continue to increase this fund. I thank the Private Sector Foundation, UNDP and others who have joined the efforts to increase our exports, drive manufacturing and industry and support the private companies,” President Museveni said, while launching the Trade Frontier Fund.

The Fund has been developed by the Presidential Advisory Committee on Exports and Industrial Development (PACEID) in collaboration with the Science, Technology, and Innovation Secretariat (STI) and Private Sector Foundation Uganda (PSFU).

According to Sarah Kagingo, the PSFU vice chairperson, the new fund will help boost exports as it will address funding gaps, stabilize supply chains and stimulate access to market information.

Productive day as revolving Trade Frontier Fund is launched; MoU between Private Sector Foundation Uganda @PSF_Uganda and @STIsecretariat at State House Entebbe.

As the Private Sector roots for patient capital to build sustainable business models, the Trade Frontier Fund with an… pic.twitter.com/mIa5pIbUna

— Sarah Kagingo (@SarahKagingo) April 22, 2023

“Despite the progress made in growing Uganda’s exports, there are still several challenges faced by our private sector players in accessing the export markets. One of the biggest challenges faced by our exporters is limited access to low interest and patient financing,” Kagingo said, adding;

“As private sector, we welcome the establishment of the Trade Frontier Fund which is expected to transform the entire trajectory of exports in Uganda. We wish to thank the President of Uganda and the government for committing seed funding to kick start Trade Frontier Fund.”

Led by Vice Chair @SarahKagingo, at State House Entebbe, we signed a Trade Frontier Fund MoU with @STIsecretariat.
The fund with $10M seed funding from @KagutaMuseveni will support exports of coffee, fruits, vegetables, flowers, dairy, grain, beef, poultry, sugar, fish & tourism pic.twitter.com/SZcxEAVIoC

— Private Sector Foundation Uganda (@PSF_Uganda) April 22, 2023

Uganda continues to grapple with balance of payment deficits. According to the Ministry of Finance, export earnings increased from $323.96 million in December 2021 to $371.81 million in December, 2022, representing a 15.1 percent growth.

Nonetheless Uganda continues to import more than it exports, the Ministry of Finance said the value of merchandise imports increased by 4.9 percent to $666.71 million in December 2022 from $635.60 million in November 2022.
Mr Odrek Rwabwogo, the PACEID chairperson noted that the new fund will sync Tourism and Agriculture, ensure that the country is marketed jointly and eventually grow export earnings.

“We need to get the country from bottom and bring forward what people don’t see every day. The more we expand the levers in Tourism and Agriculture, the better for the country.”

Uganda mostly exports agricultural products (80 percent of total exports). The most important export is coffee (22 percent of total exports) followed by tea, cotton, copper, oil and fish. Uganda’s main export partners are Sudan (15 percent), Kenya (10 percent), DR Congo, Netherlands, Germany, South Africa and UAE.

Share this:

  • Share
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on X (Opens in new window) X
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on WhatsApp (Opens in new window) WhatsApp

Like this:

Like Loading...

Related

Tags: FeaturedPrivate Sector Foundation UgandaPrivate Sector Foundation Uganda’s new Chief Programs and Projects OfficerPSFUPSFU and the Gender MinistrySarah KagingoTrade Frontier Fund

Related Posts

 Abbas urges U.S. to compel Israel to stop violations against Palestinians
News

 Abbas urges U.S. to compel Israel to stop violations against Palestinians

05/11/2022
0
236

Abbas urges U.S. to compel Israel to stop violations against Palestinians RAMALLAH, Nov. 4 (Xinhua) -- Palestinian President Mahmoud Abbas...

Read moreDetails
Equity ranked 4th strongest banking brand globally on brand strength, scoring 92.4 points out of 100

 Equity Bank Under Scrutiny for Alleged Role in UGX.3bn Fake Gold Scam

09/07/2024
533
Kabuleta and other opposition politicians have teamed up to put an end to Museveni's leadership

 Kabuleta, other opposition politicians team up to put an end to Museveni’s leadership

27/02/2024
394
President Museveni

 Museveni commends Ugandan scientists! 

21/07/2020
855
Load More

Popular Articles

  • Check out the top schools with pupils who scored 6 in 4 aggregates in the 2024 PLE results, as released by UNEB

    PLE 2024 Results: Top Schools with 6 in 4 Aggregates

    4301 shares
    Share 1720 Tweet 1075
  • NIRA unveils high-tech National ID, mass enrollment set to begin

    2592 shares
    Share 1037 Tweet 648
  • FULL LIST: Ministry of Education, NCDC publish self-study workbooks amid COVID-19 lockdown

    3318 shares
    Share 1346 Tweet 822
  • How to Check PLE Results 2024 on Phone, Online

    1776 shares
    Share 710 Tweet 444
  • PLE 2024 Results: UNEB Clarifies on Release Date

    1647 shares
    Share 659 Tweet 412
  • MPs clear govt to cancel 2020 academic year

    2795 shares
    Share 1149 Tweet 686
  • UNEB agrees to adjust examinations timetables to accommodate lost time

    2660 shares
    Share 1086 Tweet 656

Recent Articles

Uganda's Constitutional Court delivers landmark ruling, denying Leadership Code Tribunal members judicial privileges

HRNJ-Uganda Supported Journalist Wins 5-Year Legal Battle Against Brutal Ex-Lira Mayor

23/05/2025
D/ASP Charles Twine (in army green jacket) with Noah Mutwe arriving at Buganda Road court on Thursday.

TREASON? Ex-CID Boss Busted for Threatening Museveni, Muhoozi!

23/05/2025
Gen. Salim Saleh, a key presidential advisor, meets with European Union officials, including Ambassador Jan Sadek in Gulu, Uganda, calling for a "political ceasefire" and inter-party dialogue ahead of the 2026 general election.

Gen. Saleh addresses EU concerns over CDF Muhoozi’s tweets

23/05/2025
Uganda's Education Ministry has issued strict new guidelines banning extravagant school parties, luxury transport, and lavish election campaigns. The move aims to restore discipline and curb excessive displays of wealth, with headteachers facing disciplinary action for non-compliance.

Education ministry bans cars, couples, choppers and lavish parties in schools

23/05/2025

aBi Finance, UIBFS Equip Lenders for Climate Challenges

23/05/2025
Tree-climbing lions in Ishasha, are one of the wildlife attractions unique to Uganda and a few other countries on the African continent. With proper investment in marketing the destination

UK travel advisories hurt Uganda park tourism

23/05/2025

Whistleblower Alleges Widespread Judicial Fraud in Uganda Courts

23/05/2025

Recent CommentsRecent Comments

  • Parliamentary Committee Grills Local Government Over PDM Funds, Accountability – Press Uganda on Parliamentary committee grills local government over PDM funds, accountability
  • Uganda Faces Billions In Tax Losses From Thriving Illicit Alcohol Trade – Press Uganda on Uganda Faces Billions in Tax Losses from Thriving Illicit Alcohol Trade
  • CAUGHT RED-HANDED?! Top Kampala Lawyer-Lender Faces Claims Of Courtroom Manipulation And “Phantom Documents”! – Press Uganda on CAUGHT RED-HANDED?! Top Kampala Lawyer-Lender Faces Claims of Courtroom Manipulation and “Phantom Documents”!
  • Centenary Bank Boss: Startups Should Leverage TikTok For Growth – Press Uganda on Centenary Bank boss: Startups Should Leverage TikTok for Growth
  • 3 Dead, 9 Injured In Mukono Highway Crash – Press Uganda on 3 Dead, 9 Injured in Mukono Highway Crash
UG Standard - Latest News

UG Standard, published via www.ugstandard.com isa publication of Sahel Media Solutions Ltd, a professional Digital/New Media company in Uganda info@ugstandard.com

Follow us on social media:

Latest News

  • HRNJ-Uganda Supported Journalist Wins 5-Year Legal Battle Against Brutal Ex-Lira Mayor
  • TREASON? Ex-CID Boss Busted for Threatening Museveni, Muhoozi!
  • Gen. Saleh addresses EU concerns over CDF Muhoozi’s tweets
  • Education ministry bans cars, couples, choppers and lavish parties in schools
  • aBi Finance, UIBFS Equip Lenders for Climate Challenges
  • UK travel advisories hurt Uganda park tourism

OpED

Understanding Air Expansion and Its Impact in Kasese District, Western Uganda

The Empire, the Spectacle, and the Soft Coup in South Africa

Inside South Africa’s Retail Shake-Up

Afrikaners for the U.S. as Refugees?

In Memoriam: Rajiv Ruparelia – A Legacy of Vision and Heart

© 2024 Ugstandard - Latest News by Digital/New Media company.

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us

© 2024 Ugstandard - Latest News by Digital/New Media company.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d