As Uganda edges closer to a multibillion-dollar oil and gas boom, KCB Bank Uganda is moving to ensure local contractors are not left watching from the sidelines, but actively competing for a share of the lucrative deals.
At a high-level CEO forum hosted by the Uganda National Association of Building and Civil Engineering Contractors (UNABSEC), the bank serving as Official Sponsor placed financing at the centre of the conversation, highlighting it as a key barrier holding back indigenous firms.
The gathering at Hotel Africana drew policymakers, regulators, and industry leaders, all confronting a familiar reality: while opportunities in the energy sector are expanding rapidly, local contractors still face hurdles in technical capacity, compliance with global standards, and, most critically, access to affordable and structured financing.
With more than $15 billion expected to flow into Uganda’s oil and gas sector, stakeholders cautioned that without targeted support, local firms risk losing out to well-capitalised international competitors.
KCB Bank Uganda says it is already working to change that narrative.
“Our goal is to put local contractors in a position to win,” said Hirya Fred Saul, Manager Trade Finance at the bank. “By providing tailored financial solutions from working capital to contract financing and trade instruments—we are enabling them to take on bigger, more complex projects with confidence.”
The bank has increasingly rolled out products such as guarantees, contract financing, and structured trade finance to back Ugandan firms bidding for major infrastructure and energy projects, including those tied to the East African Crude Oil Pipeline.
Industry players view this support as both timely and necessary.
UNABSEC President Kiara Binta Nkuranga emphasised that as opportunities grow across the oil and gas value chain, access to financing remains the deciding factor between companies that scale and those that stall.
The forum closed with a renewed push for collaboration between government, financial institutions, and contractors to strengthen local capacity and ensure Ugandan firms can deliver on complex, capital-intensive projects.
For KCB Bank Uganda, the message is clear: the true success of Uganda’s oil and gas boom will not only be measured by investment figures, but by how effectively local businesses are brought into the fold.
And as the sector gains momentum, the bank is positioning itself as a critical bridge connecting ambition with capital, and turning local potential into real participation in one of Uganda’s most transformative economic shifts.
