Uganda eyes trading partnerships to compete in East Africa
Uganda, March 13 – Uganda is eyeing a number of partnerships to be more competitive in the East African region. The landlocked country has opted for partnerships rather that receiving aids from time to time. The reliance of the government on external sources of help has crippled the steady growth of the economy.
African countries have had a difficulty in raising capital, generating revenue for their projects and sustenance of their citizens and found themselves more often than not having to borrow funds for a number of operations to take place. African Union (AU) chairman Paul Kagame has reiterated a number of times the effect of dependency on external sources for African countries.
The Rwanda’s Premier has highlighted the weakness of AU as being interlinked with high reliance and dependency of African states to other external avenues for capital. President Yoweri Museveni is taking a different stroll in venturing to partnerships that will give each party a role to play in the development of the country. The establishment of a rather symbiotic and not parasitic relationship could be the unravelling of a new chapter in growth of the country.
Partnerships could play a bigger and better role in not only establishing economies but empowering other businesses to rise and fight for their space. With the lack of access to financial help getting wider, partnership deals could work in favor of the start-ups and other enterprises, to benefit indirectly from the agreements.
The move is set to steer the trading sector in the country to expand businesses around the country and more so the East African region. The region has high potential to become a challenging investment hub, to lure more investments and investors. For Uganda, it is a matter of keeping balance in the state of the affairs.