Standard Chartered is set to invest in boosting regional trade, particularly between Uganda and the Middle East.
The Middle East has emerged as one of the major export destinations for Uganda according to data from the Ministry of Finance.
For instance in March, 2025, the Middle East was Uganda’s largest export destination, accounting for 37 percent of exports.
At a country-specific level within the Middle East, the United Arab Emirates dominated, receiving 97.5 percent of Uganda’s exports to the region.
Standard Chartered yesterday successfully hosted a high-level Uganda Investment Dialogue focused on Cross-Border trade as a catalyst for Uganda’s Growth Strategy.
Held under the theme: “Cross-Border Trade – Connecting Your Ambitions to Global Possibilities,” the dialogue brought together over 100 influential stakeholders including government officials, private sector leaders, policy makers, regulators, development partners and Standard Chartered clients.
The goal was to facilitate collaborative discussions on the transformative potential of cross-border trade in driving Uganda’s Tenfold (10X) Growth Strategy leveraging sectors like; Agriculture, Trade, Manufacturing and Science and Technology (ATMS).
It also aimed to identify and discuss the investment opportunities and challenges within the ATMS sectors and facilitate networking and partnership-building between the public and private sectors.
The event attracted distinguished speakers who included; Sanjay Rughani the CEO Standard Chartered Uganda, Razia Khan the Head of Research, Africa & Middle East Standard Chartered, Mr. Moses Bekabye the Technical Advisor for Economic Affairs from the Ministry of Finance, Planning and Economic Development and Mrs. Maria Kiwanuka – Standard Chartered’s Board Chairperson and Independent Non-Executive Director.
The Panel discussion was led by Charles Katongole the Standard Chartered Uganda Executive Director & Head of Corporates.
It also comprised of Kariuki Ngari the CEO Standard Chartered Kenya and Africa, Stephen Asiimwe – CEO, Private Sector Foundation Uganda, Anna Nambooze – Country Director, Trademark Uganda and Rola Abu Manneh – CEO Standard Chartered UAE, Middle East and Pakistan & Non-Executive Director for Standard Chartered Uganda.
The panel discussion explored how the private sector can sustainably unlock the Tenfold growth strategy ambitions through cross border trade investment opportunities, capacity building, and the persistent challenges related to cross-border trade like infrastructure gaps, regulatory harmonisation, digital trade facilitation, and access to finance.
Standard Chartered Bank Uganda CEO, Sanjay Rughani highlighted the Bank’s role as a trusted partner in enabling cross-border commerce and investment flows.
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“Our presence in key global financial hubs allows us to seamlessly connect clients in Uganda to international opportunities. We leverage our deep local knowledge, innovative digital platforms, and dedicated cross-border banking teams to support businesses with trade finance, foreign exchange, cash management, and advisory services tailored for cross-border success.”
While delivering his remarks, Mr. Moses Bekabye, the Technical Advisor for Economic Affairs from the Ministry of Finance, Planning and Economic Development commended Standard Chartered for its commitment to supporting Uganda’s economic transformation and praised the initiative as a vital platform for bridging the gap between public and private sector priorities.
Mr Bekabye took to the podium to discuss the Tenfold growth strategy and what expanding the size of the economy from USD 50 Billion to USD 500 billion in 15 years means and how cross-border trade can support this agenda and Uganda’s economic future.
“It is through partnerships such as these that we can create a more connected, competitive and inclusive economy,” he said.
Razia Khan, the Standard Chartered Head of Research, Africa & Middle East on her part talked about the global and Uganda’s economic outlook highlighting various key issues around the global growth expectations being moderated since the beginning of this year.
She applauded Bank of Uganda’s anti-inflation credentials for having anchored price stability saying that the Uganda shilling has outperformed regional peers since 2020.
She was also optimistic about Uganda’s growth accelerating as spending ramps up with the first oil in 2026. Potentially Uganda will see close to 10% growth, however, caution has been given against Uganda’s debt and the need to tread cautiously.
The Uganda Investment Dialogue underscored Standard Chartered’s continued commitment to convening thought leadership platforms that address national development priorities, accelerate sustainable growth, and empower businesses to thrive in the global economy.
Rola Abu Manneh, Standard Chartered CEO for UAE, Middle East and Pakistan noted that the Standard Chartered’s unique geographic footprint connects high-growth and emerging markets in Asia, Africa and the Middle East.
She therefore called for an alignment of the industries between UAE and Uganda by matching what UAE needs and what Uganda can offer to maximise growth opportunities.