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Petroleum Authority of Uganda, PSFU partner to train SMEs on opportunities in oil and gas sector

  • Private Sector Foundation Uganda
  • PSFU NEWS

Petroleum Authority Uganda (PAU) and Private Sector Foundation (PSFU) on Tuesday, 22 February 2022 signed a contract for the provision of business development training services in the oil and gas sector.

This is part of the AfDB business linkages project that is expected to support the development of enterprises along the oil pipeline route.

The executive director of PAU, Mr Ernest Rubondo, said Uganda is focusing on value addition, value creation in preparation for the oil opportunities even though other countries focus on ownership.

“The main goal of the country for national participation in the oil and gas sector is to achieve in-country value creation and retention while ensuring competitiveness, efficiency, and effectiveness,” Rubondo said.

“We have moved on from the season of scarcity to a season of plenty for opportunities in the Oil and Gas project in Uganda. Ugandans must recognise this and start working as partners rather than competitors,” he added.

Under the partnership, Stanbic Business Incubator Limited (SBIL) will take on the responsibility to train and build skills of SMEs to compete favourably for oil sector service contracts in the region.

PSFU chairman Elly Karuhanga highlighted the need for Ugandan private sector to know the benefits of these partnerships resulting in immeasurable economic growth for Ugandan economy

“PSFU is glad to sign this MoU with PAU and we look forward to reap from the oil and gas investments, rise in Uganda’s GDP and the strategic partnership with the Private sector Foundation of Tanzania,” Mr Stephen Asiimwe, the CEO of PSFU, said.

Betty Namubiru, the National Content Manager at PAU said, the signing of the Business development consultant contract marks the official start of the business development consultant’s assignment.

“The key components of the capacity building for the MSMEs along the EACOP route will include; capacity building, business development training based on a needs assessment, business linkages, youth and women empowerment,” Ms Namubiru said.

For Uganda’s oil and gas sector, the announcement of the Final Investment Decision early this month signified the commitment of the oil companies.

This will be by investing close to US$ 10 billion to develop Uganda’s oil and gas resources through the implementation of the Tilenga Project in Buliisa and Nwoya districts; the Kingfisher Project in Hoima and Kikuube Districts (approximately US$6-8bn); and, the East African Crude Oil Pipeline (EACOP) that will cross the ten (10) districts of Hoima, Kikuube, Kakumiro, Kyankwanzi, Gomba, Mubende, Lwengo, Sembabule, Kyotera and Rakai in Uganda.