Annette Kiconco, dfcu Bank Chief Retail Banking Officer (c) holds a signed Memo with IEC Executives
HABARI DAILY I Kampala, Uganda I Eight months before Uganda embarks on commercial oil production, dfcu Bank has reaffirmed its commitment to empowering local enterprises to participate competitively in the country’s oil and gas sector.
Annette Kiconco, dfcu Bank’s Chief Retail Banking Officer, urged members of the SME fraternity, to build long-term relationships with banks in preparation for opportunities linked to the Tilenga, Kingfisher, and related infrastructure projects.
“Moving together with our stakeholders, we at dfcu Bank are sharpening our focus on the oil and gas value chain through capacity-building partnerships,” she said during the Networking Forum hosted by the Industry Enhancement Centre (IEC) in Kololo on Thursday, 30th October 2025.
She added that they are also lining up working-capital solutions, asset finance, and trade guarantees, all aimed at equipping local firms to win, finance, and deliver large contracts.
Kiconco further said that since SMEs are the backbone of Uganda’s economy, dfcu is striving to combine access to finance with partnerships that strengthen their ability to grow, compete, and diversify beyond oil and gas.
William Kayongo, dfcu Bank’s Head of Enterprise Banking, noted that many businesses lose out because they approach banks late, often after winning tenders.
“SMEs that engage their banks early stand a far better chance of securing the financial instruments they need, from bid bonds to performance guarantees; in time to deliver on their contracts,” he said.
dfcu Bank’s partnership with IEC and the Private Sector Foundation Uganda (PSFU) is enabling enterprises to build financial resilience, strengthen systems, and prepare for participation in major energy and infrastructure projects.
Established in 1964, the bank continues to leverage its six-decade legacy to finance sectors critical to Uganda’s economic transformation, including energy, infrastructure, and trade.
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