dfcu Bank has reaffirmed its commitment to transforming Africa’s trade landscape through inclusive financial solutions, policy advocacy, and ecosystem partnerships.
Speaking as a keynote speaker at the high-level gathering, Annette Kiconco, dfcu Bank’s Chief Retail Banking Officer, Annette Kiconco delivered a powerful address highlighting the need to shift trade from a transactional activity into a tool for sustainable development and shared prosperity.
In her remarks, Ms. Kiconco emphasised the pivotal role that inclusive trade will play in unlocking the full potential of the African Continental Free Trade Area (AfCFTA), which now connects a market of over 1.4 billion people with a combined GDP of US$3.4 trillion.
“This is not merely a conversation about trade,” she said. “It reflects our collective ambition—to unlock Africa’s potential by transforming trade from a challenge into a catalyst for inclusive growth and continental prosperity.”
Citing recent trade data, Ms. Kiconco highlighted both the opportunity and urgency of action:
Uganda’s 2024 exports reached US$8.16 billion, with imports at US$12.7 billion, reflecting a trade deficit of over US$4.6 billion.
In Q1 2025 alone, Uganda recorded US$2.6 billion in exports, with manufactured goods increasing by 72.1% in April—a signal of progress in value addition and regional competitiveness.
Despite these gains, significant barriers continue to limit the participation of key groups—women, youth, SMEs, and informal businesses—in cross-border trade.
Ms. Kiconco identified the most pressing challenges, including high logistics costs, limited access to trade finance, post-harvest losses, fragmented regulation, and low levels of digitization and trade intelligence.
The event also featured powerful remarks from Hon. Ruth Nankabirwa, Minister for Energy and Mineral Development, who urged Ugandans to challenge gender stereotypes and enable equal access to economic opportunities.
She lauded the Bank’s long-standing commitment to women’s economic empowerment, noting the constitutional imperative for women’s representation across decision-making platforms.
As part of the conference activities, dfcu Bank hosted an Access to Finance workshop led by Joan Kaagaza, Head of Commercial Banking. The session equipped SMEs, startups, and large enterprises with practical guidance on financing models and tools available through dfcu Bank.
“We’ve chosen to focus on sectors that are most critical to Uganda’s development,” Kaagaza stated. “This approach is central to our purpose of transforming lives and businesses in Uganda.”
dfcu Bank’s Three-Pillar Strategy to Break Barriers
Ms. Kiconco also outlined dfcu Bank’s approach to addressing these barriers, built on three strategic pillars:
Access to Finance
dfcu offers innovative trade finance instruments, working capital solutions, and digital platforms that make cross-border transactions more accessible to SMEs and entrepreneurs.
dfcu Women in Business Program
Pearl Bank Celebrates Customers in Festive Campaign Dubbed Pearl SantaNow impacting over 70,000 women entrepreneurs, this program provides more than credit; it delivers training, mentorship, market access, and peer networking, enabling women-led businesses to thrive and scale.
Sector-led Growth
By aligning financial offerings with Uganda’s priority sectors including agriculture, manufacturing, trade, ICT, infrastructure, education, and financial institutions—dfcu Bank is enabling businesses to produce competitively, integrate regionally, and scale globally.
Looking Ahead: Africa’s Emerging Trade Frontiers
In a forward-looking segment of her address, Ms. Kiconco highlighted five key frontiers that will shape Africa’s trade transformation:
Youth & Digital Innovation: Empowering Africa’s tech-savvy youth to drive digital commerce and new trade channels.
Sustainable Trade: Promoting green logistics and climate-smart agriculture.
Trade-Ready Infrastructure: Investing in transport, energy, and digitized border systems.
Diaspora Engagement: Leveraging the African diaspora’s $50B+ remittances and networks for structured trade investment.
Made-in-Africa Branding: Building global recognition for African value-added products, from coffee to fashion.
A Call to Action
Ms. Kiconco closed with a call for collective responsibility and strategic action across sectors:
“Trade must be transformational—not transactional. And to be truly transformational, it must be inclusive. Let’s break barriers with strategy. Let’s build the future. And let’s make trade not just Africa’s opportunity, but its legacy to the world.”
The Breaking Barriers to Trade 2025 Conference brought together policymakers, financial institutions, private sector players, and development partners to drive dialogue and partnerships for a more connected and competitive Africa under the AfCFTA.
