IEC to Host B2B Networking Event for Ugandan SMEs in the Oil & Gas Sector
The Industry Enhancement Centre (IEC) is set to host a Business-to-Business (B2B) themed networking event on July 25, 2024, at its offices on Plot 12, Ngabo Road in Kololo. This event aims to bolster the capacities of Ugandan Small and Medium Enterprises (SMEs) to compete effectively for opportunities in the nation's burgeoning Oil & Gas sector.
The IEC, a strategic initiative supported by TotalEnergies EP (TEPU) Uganda and its Joint Venture partners, China National Offshore Oil Corporation (CNOOC) Uganda, and the Uganda National Oil Company (UNOC), operates in collaboration with the Ministry of Energy and Mineral Development (MEMD) and the Petroleum Authority of Uganda (PAU). The centre is managed by the Zoramu Consulting Group (ZCG)/Invest in Africa (IIA) Joint Venture, with MAT Abacus and Equity Bank as key subcontractors.
Keep Reading
Empowering SMEs Through Networking
The IEC’s themed networking events are a cornerstone of its mission to enhance the capabilities of Ugandan SMEs. These large-scale, formal gatherings attract a diverse array of stakeholders, including government officials, international and national oil companies, service providers, financial institutions, and industry associations.
"These events are crucial for SMEs in the Oil & Gas industry," said an IEC spokesperson. "They provide a platform for networking with industry leaders, gaining valuable insights, and forging strategic relationships. SMEs can enhance their ability to meet industry standards, understand regulatory requirements, and navigate procurement processes through these engagements."
Benefits of B2B Networking
The upcoming event promises numerous benefits for participating enterprises:
Higher Revenues: B2B transactions typically involve larger order volumes, leading to increased revenue per transaction.
Long-Term Relationships: These transactions often foster ongoing business relationships, resulting in repeat business and potential long-term partnerships.
Reduced Marketing Costs: Targeted B2B marketing efforts are more efficient, leading to lower marketing costs.
Improved Supply Chain Management: B2B transactions enhance coordination and efficiency among supply chain partners.
More Accurate Forecasting: With fewer customers, demand prediction and supply adjustment become more manageable.
Customization: B2B transactions allow for tailored solutions to meet specific business needs.
Event Objectives and Approach
The IEC has outlined several objectives for the themed networking event:
Showcase Business Operations: Participants will have a 3-minute pitch presentation opportunity to showcase their businesses.
Build Brand Awareness: Companies can increase brand awareness, generate leads, and boost sales.
Exchange Products and Services: The event will facilitate the exchange of products, services, or information between businesses.
The event targets 100 SMEs, with participation on a first-come, first-serve basis. SMEs interested in pitching their businesses are required to indicate their interest through an application link.
Conclusion
The IEC's themed networking event represents a significant opportunity for Ugandan SMEs to position themselves competitively in the Oil & Gas sector. By fostering collaboration, enhancing knowledge, and building strategic partnerships, this event aims to contribute to the establishment of a thriving business ecosystem in Uganda
