SMEs for Standard Chartered Bank expo in Hong Kong

KAMPALA

TWELVE Ugandans will be part of the 140 Small and Medium Enterprises customers of Standard Chartered Bank from Africa to showcase and network at the World SME Expo 2007 in Hong Kong.

SME customers have been selected from 7 African countries that include Uganda, Botswana, Ghana, Zimbabwe, Kenya, Tanzania, and Zambia. The Hong Kong Trade and Development Corporation have organised the 2007 World SME Expo is scheduled for December 12-14. 

At a breakfast meeting for the Ugandan SMEs, the Managing Director of Standard Chartered Bank, Mr Lamin Manjang, said: "This is initiative is geared towards the development of the SME sector in Uganda and the rest of Africa".

"We want to ensure that our SME customers can develop business partnerships, exchange ideas and explore opportunities in Asia," Mr Manjang said.

Mr Manjang said SMEs play an important role in the economic development of many African countries.  "SMEs account for between 30 - 60 percent of African GDP.  We believe SMEs will be one of the key drivers of economic growth over the next 10 years," he said.

He promised that when the Credit Reference Bureau expected to be in place in 2008, banks will be able to track the loan records of SMEs, they will be in position to increase on the current SME clientele which stands at 4000.

In September, the bank also sponsored another SME customer, Ms Omala Adyeeli of Delight Supplies to attend Conference of Women entrepreneurs in China. The General Manager SME Banking, Mr Harton Maliki, said: the bank chose 12 and another group will go next years. The Expo is an annual event.