Uganda’s ambition to accelerate economic growth and unlock private sector potential will depend on how quickly stakeholders align policy, capital and partnerships into coordinated, action-driven outcomes, dfcu Bank has said.
The call was made during the Foreign Chambers Policy Summit in Kampala, where government leaders, private sector executives, development partners, investors and economists convened to examine the implications of the FY2026/27 National Budget, labour reforms and emerging legislative developments on the business environment.
Speaking at the summit, Kate Kiiza, Executive Director and Chief Corporate & Institutional Banking Officer at dfcu Bank, emphasized that while Uganda has made progress in policy formulation, the country now faces a critical execution gap.
“Uganda has a strong vision for growth, but execution remains the defining challenge,” Kiiza said. “Without translating policy into action, Uganda’s Tenfold (10x) Growth Strategy risks remaining aspirational. What is needed now is coordinated implementation that delivers jobs, drives enterprise growth and strengthens competitiveness.”
Kiiza stressed that economic transformation will require deliberate collaboration between government, financial institutions, development partners and the private sector. She noted that no single actor can unlock growth alone, underscoring the importance of partnerships that align investment flows with national priorities.
A key issue emerging from the summit discussions was the persistent constraint of access to affordable and flexible financing. Many businesses, particularly small and medium enterprises, continue to face limited access to capital that is appropriately structured to support their growth journeys.
According to Kiiza, unlocking sustainable growth will require financing solutions that are tailored to sector-specific needs and responsive to businesses at different stages of development.
“Growth cannot be financed through generic products,” she said. “Businesses require solutions that reflect their operating realities, risk profiles and the opportunities within their sectors. This is where financial institutions must step in; not just as lenders, but as long-term partners.”
She added that financial institutions have a critical role to play in mobilising capital, enabling investment and building resilience across the economy. This includes supporting businesses to navigate changing market conditions, regional trade dynamics and global economic uncertainty.
Drawing on its strategy, she also noted that dfcu Bank continues to focus on sectors considered fundamental to Uganda’s long-term development, including agriculture, manufacturing, trade, among others.
This sector-led approach allows the Bank to combine financing with advisory support and industry expertise, enabling businesses to scale sustainably and compete effectively. In addition, the Bank continues to expand specialised financial solutions designed to support evolving business needs.
These include trade finance, structured commodity finance, working capital solutions, foreign exchange services and treasury products, all of which are critical for businesses seeking to scale and operate competitively.
These interventions are helping prepare previously underserved communities to participate more actively in the formal economy.
The increasing importance of sustainability in financing decisions was also highlighted at the summit. Kiiza noted that Environmental, Social and Governance considerations are becoming central to how capital is deployed, particularly in areas such as renewable energy, climate resilience, water access and inclusive economic participation.
Kiiza concluded by reaffirming that Uganda’s growth trajectory will ultimately depend on the ability of stakeholders to move from dialogue to coordinated action.
“Policy direction is important, but it is execution that delivers results,” she said. “We must align around practical interventions that unlock capital, de-risk investment and create an enabling environment for businesses to grow.”
With over six decades of experience, dfcu Bank reiterated its commitment to supporting Uganda’s development through its purpose of transforming lives and businesses. Established in 1964 as the Development Finance Company of Uganda, dfcu has played a pivotal role in financing enterprises across sectors and supporting private sector development.
As the Bank marks 62 years of operation, its contribution continues to be reflected in the growth of thousands of Ugandan businesses supported through access to capital, advisory services and strategic partnerships.
dfcu Bank is a leading financial institution committed to supporting Uganda’s economic development by empowering individuals, businesses and communities through innovative financial solutions, sector expertise and strategic partnerships.
kazibweezekiel@gmail.com
