A version of this article was originally posted on the COVID-19 Business Info Hub.

The COVID-19 Business Info Hub is launching a  webinar series  to provide practical advice and solutions for small and medium enterprises (SMEs) through engaging discussions with expert panelists. The first session,  Re-opening in a Post COVID-19 Environment: Practical Solutions for SMEs will be held on  Tuesday, June 16th at 4.00 pm. The webinar will provide SMEs and industry stakeholders an opportunity to discuss the  ”new normal” and share practical solutions that can help the sector in this time of crisis.   

Panelists include Gideon Badagawa, Executive Director of the Private Sector Foundation Uganda (PSFU), Daniel Birungi, Executive Director of Uganda Manufacturers Association (UMA), and Hope Sharon Kwiyocwiny, Sales and Marketing Manager of HMH Rainbow Limited, YO KUKU. The session will be facilitated by Tony Otoa, Executive Director of Stanbic Bank Business Incubator, and hosted on Stanbic Bank Uganda’s Facebook Live page. The session  is open to ALL, irrespective of the financial institution you bank with!

The webinar comes at a critical time. Uganda has been on lockdown following the COVID-19 pandemic for  close to three months, resulting in a myriad of challenges for SMEs, including disruptions in the supply chain, income loss, and changing work environments. A socio-economic impact assessment of COVID-19 on the formal sector and SMEs by the United Nations Capital Development Fund (UNCDF) conducted in April 2020 reveals that 85 percent of all businesses anticipated financial distress after three months of lockdown. The expectation of loss is at least 90 percent across companies of all sizes.

The plight of SMEs during COVID-19 poses significant challenges to the Ugandan economy. As the engine of growth for economic development, innovation, and wealth creation, SMEs employ over 2.5 million people in Uganda and account for approximately 90 percent of the entire private sector, generating over 80 percent of the manufacturing output that contributes 20 percent of the gross domestic product (GDP).

With this in mind, Stanbic Bank Uganda  has deliberately prioritized efforts to support the SME sector in their time of need. In partnership with  ConsumerCentrix, Stanbic Bank Uganda has  launched the   COVID-19 Business Info Hub – a website dedicated to providing useful, practical information on key interventions including business training, useful government directives, and industry interviews to enable SMEs to stay afloat during COVID-19. 

We look forward to engaging with you on this relevant discussion towards practical solutions for SMEs.