Kampala, Uganda I HABARI DAILY I Standard Chartered Bank has launched an International Banking Facility in Uganda, providing local investors with avenues for equity investments, offshore mortgages, trusts, and global multicurrency management.
The inauguration ceremony, presided over by Jeje Odongo, the Foreign Affairs Minister, marked the beginning of an era for Ugandan investors to explore diverse international financial opportunities.
Minister Odongo, while flagging off the new facility, highlighted the expansive landscape for international banking in Uganda, emphasizing the abundant opportunities for growth and development. He noted that as Uganda’s economy is projected to grow by approximately 5.6% in GDP, the demand for international banking services is poised to increase.
“As the Ugandan economy expands, so does the need for sophisticated financial services. The International Banking Facility by Standard Chartered opens up numerous opportunities for local investors to engage in global financial markets,” Minister Odongo remarked.
The new facility is expected to enable Ugandan investors to participate in equity markets, explore offshore mortgage options, establish trusts, and efficiently manage multi currency portfolios on a global scale.
Standard Chartered’s initiative aligns with Uganda’s broader economic vision, providing investors with the tools to diversify their portfolios and access international markets. Minister Odongo expressed optimism about the positive impact of this development on Uganda’s economic landscape.
The International Banking Facility is poised to become a catalyst for increased foreign direct investment, job creation, and enhanced trade opportunities. Minister Odongo encouraged local investors to leverage this platform to tap into global trade hubs and destinations, including the United Kingdom, India, UAE, Singapore, and China.
Standard Chartered Bank’s commitment to facilitating international trade and investment banking services aligns with its global reputation. The bank aims to position Ugandan investors for sustained success on the international stage by providing tailored solutions and a diverse array of financial products.
The launch of this facility is seen as a strategic move to address the evolving needs of Ugandan investors, offering them access to global financial opportunities. As the landscape of international banking in Uganda evolves, Standard Chartered’s initiative is expected to contribute significantly to the nation’s economic growth and prosperity
