Hoima businesspeople skilled to exploit oil, gas opportunities

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As Uganda prepares for its first oil production, Hoima city's commerce is picking up pace because of several development projects taking place in the Albertine Graben.

Since the country has an estimated 6 billion barrels of oil in place, with approximately 1.4 billion barrels recoverable using current technology, the Tilenga and Kingfisher upstream development projects have made significant progress, achieving overall completion rates of over 50% and remaining on track for First Oil Production.  

The development of these upstream projects is advancing alongside the East African Crude Oil Pipeline (EACOP), a 1,443 km heat-traced pipeline that will transport Uganda’s crude oil to the international market via the port of Tanga, Tanzania.

Therefore, there is a rise in small and medium-sized businesses serving commercial oil activities. However, Hoima authorities say the proprietors of the mushrooming businesses need deliberate skilling to enable them to exploit the opportunities around them.



For this reason, when the MSME Accelerator Programme happened in Hoima city on May 8, 2025, local leaders and entrepreneurs expressed enthusiasm for a bright future. The programme, which aimed at accelerating the growth and impact of over 2,820 MSMEs, through business training, mentorship and access to affordable finance, is a partnership of Opportunity Bank Uganda Ltd and the Federation of Small and Medium Enterprises.

Hoima City commercial officer Godfrey Bwambala said sharing knowledge and creating access to finance for micro, small and medium enterprises (MSMEs) in the area will improve their capacity to contribute to the national economy.

Capacity building

The session attracted over 360 small businesses in various sectors such as manufacturing, oil and gas, and services across Hoima. They were trained in proper business management and regulation, as well as opened their access to finance for their enterprises.

Access to finance

Johnson Rukara, the manager of programmes and business development at Opportunity Bank, said through this programme, they will empower MSMEs to discover business opportunities and prepare them for funding.

“Look forward to providing the small enterprises with inclusive financing to improve their businesses and exploit opportunities on the market,” he said.

John Akwetereho, proprietor of Hang Out Camp, a food and beverages enterprise, said: “We have learnt how to manage our enterprises and also discovered various paths to affordable finance to fuel our growth and expansion.”