By Mulengera Reporters
Small and medium enterprises (SMEs) in Arua are losing out on growth opportunities due to poor record-keeping, informality, and weak market linkages, experts have warned.
This was revealed in Arua, during the Tupange Business Ne Equity forum on Thursday, organized by Equity Bank Uganda under the theme “Financing Integrated Value Chains and SME Growth”.
A panel discussion highlighted that many businesses in Northern Uganda still sell raw produce without value addition, resulting in low returns. Despite the presence of a large local market (including the refugee population) entrepreneurs often struggle to connect with potential buyers.
Delivering his keynote speech, Mr. Draecabo Trinity Ceasar, Chairperson of the Ayivu Development Agency, advised SMEs to build strong relationships with banks. He likened it to children being encouraged to read their Bible daily.
“If SMEs want to grow, they must engage regularly with their bankers.”
Peter Ssemakalu, Regional Manager Business Growth and Development, cautioned that businesses can only thrive with proper guidance and support, saying, “A goat can feed a family, but only if it does not eat your crops.”
Speakers urged SMEs to adopt value chain integration, improve financial literacy, and form partnerships to create stronger networks. Equity Bank showcased financial solutions tailored for different business needs, but emphasized that without proper records, many SMEs remain locked out of funding opportunities.
The discussions underscored that addressing informality and weak structures remains crucial if SMEs in Arua and the greater North are to compete effectively and contribute to Uganda’s economy.
