Uganda Honours TradeMark East Africa for Generating $97m in Trade

President Yoweri Museveni of Uganda has awarded a Certificate of Special Recognition to TradeMark East Africa (TMEA) for best contribution to infrastructure and trade facilitation in the country.

The award is part of the annual Visionaries of Uganda Awards, a presidential initiative that recognizes investors, private sector and donor institutions whose work has had a transformative socio-economic impact on the people of Uganda.

It follows the outcome of an independent evaluation which found that TMEA’s Uganda programmes directly contributed to additional trade valued at $97 million.

TMEA is an organization that seeks to enhance economic growth, reduce poverty and increase prosperity in the region through trade.

Funded by a range of development agencies, it works closely with East African Community (EAC) institutions, national governments, the private sector and civil society to increase physical access to markets, enhance the trade environment and improve business competitiveness in East Africa.

Receiving the award, Frank Matsaert, Chief Executive Officer, Trade Mark East Africa said, “The work we undertake at TradeMark East Africa across Uganda has significantly reduced the cost and time of doing business in the country and has made a tangible difference to the lives of Ugandans.”

TMEA’s work in Uganda includes the introduction of one-stop custom mechanisms which have reduced the waiting times for trucks on border posts by up to 70 per cent and eliminated the need for customs checks on both sides of the border.

It initiated the Uganda Revenue’s Authority shift to a 24-hour web-based customs processing system that has reduced the processing time by 30 per cent from 120 hours to 84 hours and seen its tax revenue collection increase by 48 per cent.

Reaffirming its commitment to the development of the Ugandan economy, TMEA thanked President Museveni for the recognition and expressed desire to maintain an excellent working relationship with the government.

This post first appeared HERE

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.