Finance Minister Tells Absa Bank to Work Towards Providing Cheap Capital to Both Public and Private Sector

Finance Minister Henry Musasizi met the leadership of ABSA Bank to discuss the opportunities for supporting Government to implement the Tenfold Growth Strategy.

The Absa team was led by Keith Kalyegira, the Chairman of the Board of Directors and David Wandera the Managing Director.

The Minister thanked Absa Bank for contributing to the growth of the economy, adding that they must focus on reducing interest rates to attract more business from government.

He said the country needs cheap money to support the anchor sectors including agro-industrialization and tourism development as well as the enablers, including infrastructure development and industrial parks for manufacturing including agro-processing.

Kalyegira said the Bank is aligned with the mission of building a 500-billion-dollar economy, adding that the Bank is ready to support the anchor sectors (ATMS) and also in mobilizing resources through alternative financing such as Sukuk.

He said Uganda should maintain a predictable investment climate and tax regime to achieve its development goals.

Wandera on his part said Absa is the third largest bank in the country and is committed to attracting international investors to Uganda and supporting the Tenfold growth agenda.