Bank of Africa-Uganda has announced its participation in the 3rd Edition of the CEO Business Conference, an event centered on the theme “Adapt and Advance” and aimed at strengthening the resilience of Uganda’s private sector.
The conference gathered chief executives, business owners and senior decision-makers from several key economic drivers, including the trade, education, and construction sectors. The primary objective of the forum was to establish a dialogue on maintaining competitiveness within a volatile economic landscape, specifically focusing on the role of little and medium enterprises (SMEs) in national stability.
SMEs currently constitute more than 90 percent of all private sector businesses in Uganda. These enterprises contribute an estimated 20 to 25 percent of the country’s gross domestic product (GDP) and provide the primary source of livelihood for millions of citizens.
Integration of Artificial Intelligence
During the keynote address, Andrew Obara, chief executive of Friends Consult Ltd, identified adaptability as the critical factor for business survival. Obara specifically highlighted the growing impact of artificial intelligence (AI) on operational productivity and strategic decision-making, asserting that AI is increasingly defining the competitive edge of modern businesses.
Representing Bank of Africa-Uganda, Phillip Otim, Head of Marketing and Product Development, aligned the bank’s strategy with these technological shifts. Otim stated that the institution is currently integrating artificial intelligence into its internal operations. This move is part of a broader transformation agenda intended to modernize banking services and align them with the evolving needs of the business community.
Sector-Specific Financial Support
The bank used the platform to reiterate its commitment to SMEs as primary engines of economic growth. Rather than offering generalized banking products, Bank of Africa-Uganda is focusing on the delivery of sector-specific financial solutions. These tailored services are designed to meet the distinct operational requirements of contractors, traders, and educational institutions.
The institution is positioning itself as a financial partner to ensure business continuity and sustainable growth for enterprises navigating the shifting Ugandan economic landscape.
