KCB Bank Uganda, a financial service provider, held a high-level breakfast meeting at the Sheraton Hotel under the theme “The Future of Oil and Gas in Uganda: A Call to Empower a New Era.”
This engagement gathered key stakeholders in the energy sector to explore opportunities, challenges, and funding requirements as Uganda aims to become a significant player in the global oil and gas market.
This timely discussion coincides with Uganda’s preparations for its first oil production from
the Tilenga and Kingfisher oilfields, as well as the development of the East African Crude Oil
Pipeline (EACOP), which represents the largest infrastructure investment in the region.
At the event, Mr. Edgar Byamah, Managing Director of KCB Bank Uganda, highlighted the
bank’s commitment to supporting Uganda’s energy transition and the entire oil and gas
value chain.
“The oil and gas sector offers a transformative opportunity for Uganda’s economic advancement. At KCB, we are strategically equipped to provide financing, treasury management, and advisory services to businesses aspiring to succeed in this field. We also understand the importance of promoting sustainability through investments in renewable energy and green financing initiatives,” Byamah stated.
The event included a panel discussion featuring leading industry experts, such as Tom
Ayebare Rukundo, Manager Economic and Financial analysis at the Petroleum Authority of
Uganda (PAU) who discussed Uganda’s considerable achievements in establishing a
regulatory and operational framework for the sector.
“We are at a pivotal moment in Uganda’s oil journey. As the first oil is anticipated this year,
we must encourage collaboration among regulators, operators, financiers, and service
providers to ensure value generation for Ugandans,” Rukundo remarked. “Partnerships, such
as the one with KCB, are essential for bridging financing gaps and enhancing local
engagement in the industry.”
Tony Serubiri, Commissioner, Directorate of Petroleum, Ministry of Energy and Mineral
Development, in his speech, advocated for strategic partnerships and responsible
investments in Uganda’s energy future.
“Oil and gas should focus on extraction while emphasizing empowerment as well,” Sserubiri declared. We appreciate the proactive contributions of financial institutions like KCB Bank in enabling businesses, particularly local firms, to engage meaningfully in the value chain. This is how we strengthen national capacity and promote inclusive growth while creating employment opportunities for many.”
During the event, KCB Bank introduced and launched the KCB tax bridge loan, an unsecured short-term solution designed to keep the oil and gas business moving, no matter the tax demands ahead.
All oil and gas business can now acquire unsecured loans to pay URA directly to boost liquidity and production capacity with flexible terms.
Businesses can get up to four billion Ugandan shillings at 16.5% annual interest, 30-day tenure and no collateral or delays.
The other product launched was the commodity finance, a collateral management solution
that is very essential for oil marketing companies because it will enable bulk purchases and
enable upfront payment (zero credit extension from UNOC) for the downstream sector
which is currently the biggest pain point.
Other prominent attendees included representatives from Uganda National Oil Company
(UNOC), Uganda Chamber of Mines and Petroleum, and the Ministry of Energy’s Petroleum
and Mining Division.
The event also served as a valuable platform for facilitating dialogue, unlocking investment
prospects, and establishing partnerships that will influence the next chapter of Uganda’s oil
and gas sector.
