Newly appointed Minister of Trade, Industry and Cooperatives Sanjay Tanna has pledged government support for entrepreneurs with innovative and bankable business ideas, saying the ministry is shifting focus towards helping small businesses grow into competitive enterprises.
Tanna said supporting small and medium enterprises (SMEs) will be key to creating jobs and driving Uganda’s economic transformation.
He made the remarks while addressing entrepreneurs from across Eastern Uganda during a regional thanksgiving and business symposium organised by the NRM Entrepreneurs League at Mbale Senior Secondary School grounds.
The event was held to celebrate Tana’s appointment as Trade Minister, a development business leaders said gives entrepreneurs a representative at the helm of a ministry central to private sector growth.
Members of Parliament, entrepreneurs and business leaders from across the region attended the engagement.
Tanna said the government was ready to support entrepreneurs with viable projects through institutions such as the Uganda Development Corporation (UDC), urging innovators to develop businesses that add value to Uganda’s natural resources.
"We are developing all these ideas, and we are going to support you if you come with a good idea. Under our ministry, we have the Uganda Development Corporation, and that corporation is going to make sure that we support you in your businesses. The vision of the ministry is to help small businesses grow," Tanna said.
The minister said Uganda must move away from exporting raw materials and instead focus on processing agricultural products to increase earnings.
He encouraged entrepreneurs to invest in value addition for products such as coffee, honey, shea butter, cocoa butter and avocado oil, saying global demand for processed natural products continues to rise.
"We should not allow our honey to go to waste. The international market is looking for natural products. The opportunity is there for Ugandan entrepreneurs," he said.
Tanna said products such as shea butter, cocoa butter and avocado oil have growing markets in Europe and Asia, especially within the cosmetics industry, presenting opportunities for Ugandan businesses.
He said the ministry’s priorities are aligned with the government’s Tenfold Growth Strategy under the National Development Plan IV, with agro-processing identified as a major area of focus.
"Anything agricultural where you are doing value addition, we shall support you," Tanna said.
He added that government would also prioritise tourism, mining, science, technology and innovation as strategic sectors capable of creating employment and expanding the economy.
The minister said SMEs remain the backbone of Uganda’s economy and require targeted support to enable them to compete in regional and international markets.
He encouraged young innovators to venture into software development, digital applications and technology-based businesses while urging investors to explore opportunities in tourism and manufacturing in Eastern Uganda.
Tanna said the ministry’s role goes beyond regulation and should include helping entrepreneurs transform promising ideas into sustainable enterprises.
The minister later officially opened a new commercial building owned by Mbale businessman Richard Malaya, proprietor of Abra Supermarkets.
The modern facility, which houses Abra Supermarkets, was hailed as an example of the growth of indigenous enterprise in Eastern Uganda.
