Achieving local content in Uganda’s oil sector will require concerted effort of all institutions like banks, schools, insurance, private oil companies, tourism, environmentalists and Jua Kalis, Peter Lokeris State minerals for Minerals has said.
“The ministry now knows the skills &services needed in the oil sector &we are developing a database to fill these positions. We are looking at foreigners but if a Ugandan can fill the position he will have the first opportunity,”
He was speaking Wednesday at Local Content Stakeholder Dialogue organized Association of Uganda Oil and Gas Service Providers (AUGOS) at Hotel Africana in Kampala, Uganda.
The association said one of the hindrances for Ugandan businesses to participate in the oil and gas industry is lack of access to affordable capital but banks like dfcu and Stanbic Bank are addressing this gap.
Stanbic Bank on their part has developed an SME incubator program for the industry.
The bank’s MD Patrick Mweheire noted that they are working to ensure that SMEs access markets, funding and resources that are non-financial, linking them to mentors and coaches and helping them access working space to grow their business and survive past the third year
“Stanbic Bank Business Incubator will help to skill SMEs in Uganda who want to work in the oil and has sector. Providing mentoring and coaching after the training as well as networking for legal, procurement and financing,” Patrick Mweheire stated.
Ernest Rubondo, the chief executive officer of petroleum Authority Uganda said only 20% of professional are required for the oil sector. “The biggest bulk is the technicians. We must develop and certify these technicians to ensure that they work in the oil sector,” he said.
“All entities who will work in the oil sector must be certified and registered in the National Supplier Database to ensure that Ugandans and foreigners who will work in the oil sector are monitored. Now we have 1200 entities listed and we continue to register.” He said.
After spending an investment of $3.5bn during the exploration phase, Uganda is expecting another investment of $20bn during the development phase. It is this money that service providers in the country want to tap into through jobs and business deals.