DHL Domestic Uganda has partnered with Absa Uganda with the aim of empowering 800 Small and Medium Enterprises (SMEs) to enable them to break into international markets.
The initiative is part of the Growing Beyond Borders Entrepreneurial Training Programme, which complements the wider business capacity-building program launched with Enterprise Uganda.
Musa Jallow, the Director of Retail and Business Banking at Absa Bank Uganda, said that the initiative will cover up to seven districts in 2024 to ensure economic development.
“The program will run countrywide and cover up to seven districts in 2024, with the objective of driving economic growth. It’s crucial to equip entrepreneurs with the tools to explore and seize overseas opportunities,” Jallow said.
Jallow said that in order to bridge the gap between SMEs and markets and achieve economic growth, entrepreneurs need to equip themselves with essentials for business development.
“To drive economic growth, entrepreneurs need to be provided with essential business development services to grow their businesses. Through this program, we intend to bridge the gap that isolates SMEs from markets, opportunities, and access to capital,” Jallow said.
Joseph Odole, the Country Manager at DHL, noted that SMEs in Uganda focus more on the domestic market than the international market.
“SMEs tend to focus predominantly on domestic markets, neglecting lucrative opportunities for international trade. This is often due to a lack of information and a limited ability to invest in market research, logistics, compliance, and marketing. These challenges limit SME growth. Therefore, this program will enable businesses to look into external markets for opportunities,” Odole said.
Adding, “Many SMEs concentrate only on local markets and miss out on the benefits of global trade. Our collaboration is set to change that narrative by helping them compete and thrive internationally.”
According to the World Trade Organization, export participation rates for traditional small businesses (those that typically do not sell online) range between 2% and 28% in most countries, while 97% of internet-enabled small businesses export.
