Uganda Targets USD 6B Export Revenue Growth by 2028
The Presidential Advisory Committee on Exports and Industrial Development (PACEID) today has launched the "Know Your Exporter" campaign.
This is aimed at encouraging Ugandan exporters participate in the effort to grow the country’s exports revenue by $6B by 2028 and $100B by 2062.
Over 100 Ugandan exporters gathered at Emin Pasha Hotel during which they strategized on how to mitigate risks associated with international trade and shared enhanced knowledge of export requirements, regulations, compliance, standards among other vital aspects regarding the export business.
"We are excited to launch the 'Know Your Exporter' session, you exporters play a critical role in contributing to economic growth by increasing the overall production, creating jobs, and generating income. We believe that informed exporters have a much higher chance of success in the international market," noted the chairman of PACEID, Odrek Rwabwogo
“We have made significant strides in increasing Uganda’s global visibility as a product sourcing hub. Now, we call upon more export-ready companies to join this mission. Let’s work together to elevate Uganda’s exports.”
He noted that PACEID is built on 4 key strategic pillars driven to achieve USD 6BN new money by 2027 which are Compliance and conformity, A New Approach to export markets, Export infrastructure and Export financing.
Brenda Katarikawe Opus, a Senior Marketing Executive and PACEID Executive Committee Member noted that the president challenged the committee to achieve the USD 6b in the next 5 years target and they have layed out plans to ensure this is achieved.
“This assignment was given by H.E the president, for us to achieve this we need more than anything the exporters. For the last one year, we’ve been studying and understanding the export landscape (the challenges and markets to work on) and the learnings have driven the exporters we needed to work with.”
Katarikawe added that, “We carried out a one month survey using a questionnaire method to help us identify the exporters and draw them on board. We picked up to 800 business from 26 sectors but 13 sectors matched PACEID’s need and we will work with them all the way.”
“We realized that the export landscape is full of young players and we will ensure that they are dully represented in the market.”
Over 100 companies showed positive response by confirming their interest to improve their exports. The next phase of this task is to visit the 100 exporters and get to learn more about their export business, and the plans to grow export revenues.
During this drive, exporters are expected to clarify on what they sell; both qualities and quantities among the 13 key sector products.