Africa’s aviation growth story remains firmly intact, with Boeing maintaining a largely unchanged positive outlook for the continent even as the industry prepares to gather in Nairobi next week for the Aviation Africa Summit.

In its 2026 Commercial Market Outlook (CMO) for Africa, released on September 3, the US aerospace manufacturer projects passenger traffic to grow at an average 5.8pc annually through 2045, making Africa one of the world’s fastest-growing aviation markets.

That growth is expected to push the continent’s commercial jet fleet from 755 aircraft in 2025 to 1,625 by 2045, an increase of 870 aircraft and more than double the current fleet.

The forecast is notable not only for its scale but also for its consistency. Coming almost a year after Boeing’s previous long-term assessment, the 2026 outlook retains the same broad positive trajectory, reinforcing the view that Africa’s aviation opportunity is structural rather than a short-term rebound.

The timing also places the forecast squarely ahead of the Aviation Africa Summit and Exhibition in Nairobi on September 9–10, where airlines, governments, manufacturers, financiers and other aviation stakeholders are expected to focus on the continent’s connectivity, fleet and infrastructure challenges.

Boeing expects African airlines to require 1,165 new aircraft between 2026 and 2045, with single-aisle jets accounting for the overwhelming majority.

Of the projected deliveries, 870 will be single-aisle aircraft, representing 75pc of total demand, while 240 will be widebodies, 40 regional jets and 15 freighters.

The composition of that demand points to where Boeing sees the biggest opportunity: short-haul and regional connectivity.

Africa’s single-aisle fleet is forecast to rise from 400 aircraft in 2025 to 1,125 by 2045, as airlines expand domestic networks, establish more links between neighbouring countries and serve growing short-haul international markets.

The widebody fleet, meanwhile, is expected to more than double from 135 to 315 aircraft, reflecting expansion of African hubs and long-haul networks.

Boeing also expects the continent’s freighter fleet to increase from 60 to 150 aircraft, driven by the development of logistics, e-commerce and high-value export markets.

The traffic projections underline the importance of stronger regional connectivity.

Africa-Middle East traffic is forecast to grow fastest at 7.1pc annually, with revenue passenger kilometres (RPKs) increasing almost fourfold, from 79.6 billion in 2025 to 311.8 billion in 2045.

Intra-African traffic is projected to grow by 6.5pc annually, rising from 82.4 billion RPKs to 288.1 billion — a 3.5-fold increase.

Africa-Europe traffic will grow more slowly at 3.4pc annually but will remain the continent’s largest international passenger market, with traffic doubling from 212.8 billion RPKs to 415.1 billion.

The numbers suggest that the next phase of African aviation growth will be increasingly driven by connections within the continent and between Africa and the Middle East, rather than relying primarily on traditional links with Europe.

Boeing says Africa’s large geography, numerous national markets and historically limited air service agreements have constrained the development of intra-African networks. Yet airline network growth has exceeded 20pc over the past decade despite the disruption caused by the pandemic. The manufacturer expects that trend to accelerate as airlines add short-haul links between neighbouring countries.

The Boeing 787 has proved a versatile platform for African airlines, serving both intra-African and intercontinental routes 

For African airlines, however, the forecast is not simply about buying more aircraft. Boeing says the projected fleet expansion will generate a substantial secondary market for maintenance, training, digital technology and other aviation services.

Its Commercial Services Market Outlook estimates that Africa will generate USD140 billion in aviation services demand between 2026 and 2045, growing at 4.6pc annually.

Maintenance is expected to account for USD90 billion, digital services USD45 billion, and training and pilot services another USD5 billion.

That creates an opportunity for African countries to develop more of the aviation support ecosystem locally rather than continuing to depend heavily on maintenance, training and technical support capacity outside the continent.

The scale of the workforce challenge is equally significant. Boeing forecasts that Africa will require 75,000 new aviation professionals over the next 20 years, comprising 22,000 pilots, 25,000 technicians and 28,000 cabin crew. That translates into an average of about 3,750 new skilled aviation personnel every year.

The pilot requirement is particularly revealing. Boeing expects 77pc of the 22,000 new pilots to serve regional networks, compared with 23pc supporting global networks — another indication of where the strongest expansion in African aviation is expected to occur.

“Africa’s aviation market is entering a period of sustained growth driven by improving connectivity, expanding intraregional travel and deeper economic ties across the continent and with key global markets,” said Shahab Matin, Boeing managing director of Commercial Marketing.

Meeting that demand, he said, would require a broader commitment to fleet modernisation, expanded capacity, digital solutions and workforce development.

“The opportunity extends well beyond airplanes,” Matin said. “It will require investment in affordable access, and the people who will support a larger fleet.”

Perhaps the most consequential feature of Boeing’s forecast is the scale of fleet renewal embedded in the numbers.

Of the 755 aircraft currently in Africa’s commercial fleet, fewer than 125 are expected to remain in service by 2045. Boeing estimates that about 92pc of the fleet will consist of newer-technology aircraft by then.

That means Africa’s aviation expansion is likely to involve not merely adding aircraft but replacing a significant portion of the existing fleet with more fuel-efficient and technologically advanced equipment.

For airlines, this could improve operating efficiency and support longer and more commercially viable networks. But it also places greater demands on access to capital, maintenance infrastructure, technical skills and reliable aviation ecosystems.

The challenge for policymakers and industry leaders gathering in Nairobi next week will therefore be less about whether Africa has an aviation growth opportunity and more about whether the continent can build the conditions required to capture it.

Boeing’s 2026 outlook suggests that the demand will be there. The harder question is whether African airlines, airports, regulators, financiers, training institutions and governments can expand quickly enough — and sustainably enough — to meet it.

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HCH Financial Services is taking a stab at Uganda’s business-financing market, bringing a non-bank model aimed at helping small and medium-sized enterprises unlock working capital tied up in invoices, contracts and purchase orders.

The new offer points to a gradual deepening of Uganda’s notoriously shallow financial system, where commercial banks have traditionally dominated formal lending while loan sharks have filled some of the gaps left by conventional finance.

The company, which began operations in Uganda in 2019, is offering invoice discounting, contract financing, local purchase order (LPO) financing and bridge financing, targeting businesses that need cash to execute contracts or bridge the gap between supplying goods and receiving payment.

For businesses, the significance of this diversification lies not simply in having another source of credit, but in the emergence of financing instruments tailored to the way companies actually generate cash.

Instead of requiring a borrower to rely primarily on conventional collateral and a standard term loan, supply-chain finance can use an existing invoice, contract or purchase order as the basis for unlocking working capital.

This can be particularly important for SMEs that have won business but lack the liquidity required to fulfil the contract.

HCH’s invoice-discounting product, for example, enables businesses to raise cash against invoices owed by their customers, while its contract-financing facility provides funding against qualifying contracts. LPO financing similarly targets suppliers that have secured orders but need working capital to execute them.

The model addresses the mismatch between when expenditure has to be made and when revenue is ultimately received; one of the persistent challenges facing smaller businesses.

A contractor may have a signed contract but still need money for labour and materials. A supplier may have delivered goods but have to wait weeks or months for payment. A company caught in that cycle can be profitable on paper while remaining cash-strapped in practice.

Specialised financial intermediaries such as HCH seek to turn those future receivables into immediate liquidity.

The company is also placing technology at the centre of its model, allowing customers to apply online and submit financing documentation for appraisal and verification. HCH says successful applications can be processed and funded within 24 to 72 hours, depending on completion of the required documentation.

Its target market cuts across sectors including information technology, telecommunications, transport and logistics, manufacturing, pharmaceuticals, food and beverages, wholesale, medical supplies, energy and oil and gas, construction and donor-funded projects.

The breadth of the target market reflects the wider opportunity for specialised financial services as Uganda’s economy becomes more formalised and businesses increasingly participate in structured supply chains.

For the financial sector, the significance of such players could extend beyond the individual loans they provide.

Financial sector deepening is not simply about increasing the amount of money in circulation but also the range of institutions, products and risk-management mechanisms through which capital moves from those with funds to those who can productively deploy them.

Uganda’s financial system remains heavily bank-centred, making the development of specialised lenders potentially important for improving access to finance for businesses that do not fit neatly into traditional bank-credit models.

HCH’s proposition consequently puts it in a growing space between conventional banking and informal credit — seeking to provide structured financing based on the underlying strength of a transaction rather than simply the borrower’s balance sheet.

That distinction could become increasingly important as SMEs seek financing to participate in larger corporate, government and regional supply chains.

The challenge for HCH and similar alternative financiers, however, will be to scale without compromising credit discipline. Financing invoices and contracts still carries risks around the quality of the underlying customer, contract execution, payment delays and fraud.

The ability to manage those risks while delivering faster and more flexible financing will determine whether alternative finance can move beyond being a niche complement to banks and become a meaningful component of Uganda’s financial architecture.

HCH’s arrival therefore part of a broader shift towards a deeper financial ecosystem in which banks, specialised finance companies and other intermediaries serve different segments of the economy and different forms of commercial risk.

For Uganda’s SMEs, that could ultimately mean that access to finance depends less on finding a conventional loan and more on finding the financial instrument that best matches the business opportunity at hand.

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African airlines continued to record stronger passenger traffic growth than the global aviation market in July, even as the continent’s air cargo sector struggled to keep pace with the broader recovery, according to the latest data from the International Air Transport Association (IATA).

Passenger demand among African carriers increased by 6.4pc year-on-year in July, compared with global growth of just 0.2pc, as airlines across the continent expanded capacity to meet rising travel demand.

However, capacity grew faster than demand, increasing 9.0pc during the month. This pushed the passenger load factor to 74.1pc, 1.8 percentage points below July 2025 and significantly below the global average of 85.2pc.

The figures point to a growing appetite for air travel in Africa but also underline the challenge airlines face in filling the additional seats being introduced into the market.

Africa accounted for 2.2pc of global passenger traffic in 2025, according to IATA’s market-share measure.

The passenger performance contrasts sharply with the continent’s air cargo market, where growth was considerably weaker.

African airlines recorded only a 1.1pc year-on-year increase in cargo demand in July, the weakest performance among all regions. Cargo capacity, however, expanded by 4.1pc, leaving the sector with a cargo load factor of 45.8pc.

Globally, air cargo demand grew 3.9% in July, more than three times Africa’s rate, while capacity increased by 1.7pc.

The disparity was particularly pronounced on the Africa-Asia trade lane, where cargo traffic contracted 14.7pc in July, extending the decline to a second consecutive month.

This compares with strong growth on major global trade corridors. Asia-North America cargo traffic increased 9.2pc, while Europe-Asia grew 3.1pc and Europe-North America rose 2.1pc.

IATA said the global cargo market continued to benefit from stronger trade and manufacturing activity. Global trade increased 7.5pc year-on-year, while export orders reached their highest level in three months.

But the operating environment remains challenging. Jet fuel prices rose 12.2pc month-on-month in July and were 56.9% higher than a year earlier, adding pressure to airline operating costs.

“Air cargo demand grew 3.9pc year-on-year in July,” said Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist. She noted that Asia-Pacific, Europe and North America accounted for more than 90pc of the overall increase.

She also pointed to a shift towards dedicated freighters, with freighter operations gaining market share as belly-hold cargo declined.

The wider passenger market was also uneven. While African airlines posted 6.4pc growth, Latin American carriers recorded 7.1pc, Europe 3.1pc and Asia-Pacific 0.7pc. North American demand fell 2.3%, while Middle Eastern carriers recorded a 9.5pc decline.

IATA said global passenger demand increased 0.2pc in July, despite declines among carriers in North America and the Middle East. Capacity rose 0.3pc, producing an 85.2pc load factor.

The contrasting passenger and cargo figures highlight a structural challenge for African aviation where passenger markets are expanding relatively rapidly, but airlines are adding capacity even faster, while the continent’s cargo sector remains far less responsive to the expansion in global trade.

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Rising dollar demand from oil-sector companies and fuel importers is putting renewed pressure on the Uganda shilling, with the currency vulnerable around UGX3,740-3,750 to the dollar as demand for hard currency outpaces available supply.

The pressure is part of a broader divergence across African foreign-exchange markets, where currencies are increasingly being shaped by the strength, timing and reliability of dollar inflows rather than by a common regional trend.

London-based market intelligence and news platform Allen Dreyfus says Uganda is experiencing a familiar mismatch between demand for dollars and available foreign-currency supply, with fuel importers and commercial banks among those competing for hard currency.

The demand comes as Uganda continues to prepare for oil production, creating additional foreign-exchange requirements for companies involved in the sector, while the wider import bill adds to pressure on the local currency.

“The bigger message? Africa’s currencies are increasingly separating into those supported by dependable dollar inflows and those scrambling to ration scarce ones,” Dreyfus said.

For Uganda, the immediate concern is whether dollar supply can keep pace with corporate and import-related demand without placing further pressure on the shilling.

The currency is therefore approaching the UGX3,740-3,750 per dollar range identified by Dreyfus as a key pressure point.

Ghana faces corporate FX backlog

Dr. Johnson Pandit Asiama Governort Bank of Ghana

Ghana is confronting a similar imbalance, although the sources of pressure differ. The cedi has weakened from about 11.05 to around 11.15 to the dollar amid a growing backlog of corporate foreign-exchange orders.

According to Dreyfus, energy-sector demand, coupon and dividend repatriation are colliding with insufficient inflows from the extractive sector.

Heavy bidding at Bank of Ghana foreign-exchange auctions is another indication that demand for dollars remains strong.

The relatively modest movement in the cedi therefore masks a potentially more significant problem beneath the surface; of persistent demand for foreign currency that is not being fully met through normal market supply.

Nigeria gets support from oil flows and foreign investors

Nigeria offers a contrasting picture to Uganda and Ghana, with stronger dollar inflows helping support the naira, which was trading at about 1,344 to the dollar officially.

The country’s oil sector has received an unexpected boost from the disruption to global fuel markets following the Gulf crisis, particularly through the rapid expansion of Dangote Refinery’s exports of refined products.

European buyers have increasingly turned to Nigeria for aviation fuel as disruptions to traditional Middle Eastern supply routes forced refiners and traders to seek alternative sources. Dangote Refinery has emerged as one of the main beneficiaries, becoming Europe’s largest jet-fuel supplier in June and July.

Yemi Cardoso, Governor Centrl Bank of Nigeria

The shift has helped strengthen Nigeria’s position in the international refined-products market. Nigerian seaborne petroleum-product exports have increased seven-fold since 2023, according to the US Energy Information Administration, with the Dangote refinery accounting for much of the increase.

For the naira, the stronger oil and refined-product flows are being reinforced by foreign investors buying high-yielding domestic securities. The currency was trading at around 1,344 to the dollar officially, with further gains possible as long as elevated interest rates continue to attract foreign capital.

Dreyfus sees room for further gains, but cautions that the naira’s strength remains dependent not only on oil-related dollar inflows but also on the continued willingness of foreign investors to hold high-yielding Nigerian assets, making the rally potentially expensive to sustain if the interest-rate advantage narrows.

Nigeria illustrates the other side of Africa’s FX divide. While Uganda and Ghana are dealing with periods in which dollar demand is outstripping supply, Nigeria is benefiting from stronger foreign-exchange inflows generated by its expanding role in the global refined-fuel trade.

Remittances offer Kenya support, Kwacha faces political headwinds

Kamau Thugge Governor Central Bank of Kenya

Kenya’s shilling could also strengthen modestly as diaspora remittances increase dollar supply and month-end demand for foreign currency eases.

The Kenyan case again highlights the importance of predictable inflows. Remittances have become a significant source of foreign exchange for the country, providing support when corporate and import demand increases.

Zambia, meanwhile, is showing a different pattern. Political tensions surrounding President Hakainde Hichilema’s disputed re-election have interrupted the kwacha’s recent appreciation, but the copper-producing economy has not yet entered a significant currency retreat.

Dreyfus expects the kwacha to consolidate around 19.18 to the dollar rather than resume a sharp decline.

Flows matter more than headline rates

The divergent performances across Uganda, Ghana, Nigeria, Kenya and Zambia point to a broader shift in how African currencies are being driven.

Countries with dependable sources of dollar earnings—whether from oil, minerals or remittances—have greater capacity to absorb periods of strong demand for foreign currency.

Those with weaker or less predictable inflows are more exposed when importers, corporates and investors simultaneously increase their demand for dollars.

For Uganda, the immediate test will be whether oil-related and other foreign-exchange inflows can eventually provide sufficient supply to offset the growing demand generated by the country’s investment and import requirements.

For investors, Dreyfus argues, exchange-rate movements alone may not tell the full story.

“Watch the flows — they may tell you more than the exchange rate itself,” he said.

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Equity Group’s strategy of spreading its earnings base beyond Kenya is beginning to deliver measurable results, with stronger loan growth in East and Central Africa, rising non-funded income and deeper digital adoption combining to lift the lender’s half-year profit by 32pc.

The Group reported Profit After Tax of KSh45.5 billion for the six months to June 2026, up from KSh34.6 billion a year earlier, while Profit Before Tax rose 39% to KSh57.8 billion from KSh41.5 billion.

The results point to a financial institution increasingly deriving growth from the breadth of its regional operations rather than relying predominantly on its Kenyan franchise.

Net loans across the Group expanded 19pc year-on-year to KSh981 billion, with Tanzania, the Democratic Republic of Congo (DRC) and Uganda among the strongest contributors. At the same time, customer deposits increased 21pc to KSh1.59 trillion, helping push the overall balance sheet 20pc higher to KSh2.16 trillion.

The regional subsidiaries now account for 42pc of the Group’s banking profitability and 52pc of banking revenue, while contributing 51pc of Group deposits, 54pc of loans and 52pc of banking assets.

The shift is particularly visible in Tanzania and the DRC, where Profit After Tax increased 82pc and 30pc respectively. Equity BCDC posted KSh11.8 billion in Profit After Tax, while Tanzania contributed KSh2 billion. Rwanda also recorded 12pc growth in Profit After Tax to KSh2.9 billion.

For Uganda, the development is significant because the country is among the markets identified by Equity as making a strong contribution to Group loan growth. It also reinforces the increasingly integrated nature of the bank’s East African operations, where growth in individual markets feeds into a broader regional earnings base.

Equity Bank Kenya, meanwhile, continued its recovery, with Profit After Tax rising 32pc to KSh25.7 billion. Its balance sheet grew 13pc, supported by a 24pc increase in customer deposits and 8pc growth in loans.

More significantly, the Kenyan bank recorded 11pc quarter-on-quarter loan growth, its first double-digit quarterly expansion since the third quarter of 2021, suggesting that the recovery in its core market is gaining traction alongside the Group’s regional expansion.

The earnings growth is also being supported by a changing revenue mix.

Non-funded income increased 36pc to KSh55.6 billion from KSh40.9 billion, raising its contribution to total Group income to 44.5pc, compared with 40.8pc in the first half of 2025.

That helped lift total income 25pc to KSh124.9 billion, while net interest income increased 17pc to KSh69.3 billion.

The shift towards non-funded income gives Equity a broader earnings base, reducing dependence on traditional interest income and reflecting the Group’s expansion into payments, insurance and other financial services.

Equity Insurance Group recorded a 24pc increase in gross written premiums to KSh6.4 billion, while Profit Before Tax rose 34pc to KSh1.25 billion. Insurance is consequently becoming a more material contributor to the Group alongside banking and payments.

Technology is reinforcing this diversification. Equity said 98.3pc of all transactions now take place outside branches, with 89.7pc processed through digital platforms.

The Group serves 23.3 million customers through its digital and physical ecosystem, including Equity Online, Eazzy FX, the Equity Mobile App, *247# and Equitel, alongside 410 branches, 886 ATMs, 92,572 agency outlets and 1.4 million merchants.

The digital shift is also changing the economics of the business. The Group’s cost-to-income ratio improved to 48.6pc from 51.7pc, which Equity attributed to productivity gains, shared services and increased migration of customers to digital channels.

At the same time, asset quality improved materially. Non-performing loans fell to 9.5pc from 13.7pc, while NPL coverage increased to 70pc from 68pc. Cost of risk also declined to 1.4pc from 1.7pc, with loan-loss provisions falling 6pc year-on-year.

The combination of stronger growth and better asset quality helped produce a 26.5pc return on equity and 4.5pc return on assets.

Equity Group Managing Director and CEO Dr James Mwangi said the performance reflected a multi-year transformation focused on resilience, diversification and technology enablement.

He said the Group’s operating environment remained supportive, with Kenya projected to grow by 4.5-5pc, DRC by 5.6pc, Tanzania by 5.9pc, Uganda by 6.4pc, Rwanda by 6.8pc and South Sudan by 20pc.

The broader economic outlook, however, is only part of the story. Equity’s half-year performance suggests that its expansion strategy is creating a more diversified financial institution in which regional markets, digital channels and non-banking businesses increasingly provide alternative sources of growth.

The Group is also investing in the capabilities needed to sustain that model. About 82pc of staff have completed a business-focused generative AI course, while 55pc have undertaken additional training through the Huawei ICT Academy. Staff completed 119,980 hours of guided AI instruction, while 406 employees were admitted to Masters programmes in Financial Engineering and Applied AI through WorldQuant University.

while the immediate result is stronger earnings, the longer-term consequence could be a less Kenya-dependent institution whose growth increasingly reflects the expansion of the wider African economies in which it operates.

That trajectory places the Group’s KSh45.5 billion half-year profit in a broader context where the earnings growth is not only a recovery story, but evidence that regional diversification, technology and a broader financial-services model are becoming increasingly central to Equity’s growth engine.

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Uganda’s public procurement system must move beyond compliance with tendering rules and become a deliberate instrument for creating local wealth, developing domestic businesses and advancing sustainable economic growth, Benson Turamye, the Executive Director of the Public Procurement and Disposal of Public Assets Authority (PPDA) has said.

Turamye argues that the scale of public spending alone will not deliver Uganda’s ambition of growing the economy tenfold to USD500 billion by 2040 unless procurement creates meaningful opportunities for Ugandan businesses, workers and communities.

Turamye was speaking at a Suppliers’ Forum organised by Uganda Development Bank (UDB) in Kampala under the theme “Enhancing Supplier Engagement in Public Procurement for Sustainable Development.”

He argued that procurement should be viewed as an economic development tool rather than an administrative process centred on tender notices, bid documents and compliance.

“Sustainable development is the destination, supplier engagement is the bridge, and procurement is the vehicle that gets you there,” Turamye said.

His argument places local content at the centre of the procurement-to-development chain, particularly as Government increases investment in infrastructure and productive sectors.

Turamye pointed to infrastructure projects that can undermine their own development objectives when social and environmental considerations are overlooked. Roads, for example, may be constructed without adequate consideration for surrounding communities, while poorly designed drainage can flood gardens and abandoned borrow pits can become health hazards.

The implication, he said, is that the quality of procurement must ultimately be judged by the development outcomes it produces, not simply by whether a contract was awarded in accordance with regulations.

Procurement as an economic multiplier

The scale of public procurement gives the sector considerable influence over Uganda’s domestic economy.

According to PPDA, at least 65pc of Uganda’s national budget is spent through procurement, equivalent to an estimated 15–20pc of GDP. This makes public purchasing one of the country’s largest potential channels for stimulating local enterprise, employment and value creation.

For UDB, strengthening this link is particularly important because the bank finances businesses and productive sectors that depend on functioning domestic supply chains.

UDB Managing Director Patricia Ojangole said the bank views its suppliers as strategic partners rather than simply contractors or vendors.

“Every project delivered, every system implemented, every facility maintained, every service rendered contributes to the bank’s ability to finance enterprise growth, strengthen the productive sectors that we support and improve livelihoods across Uganda,” she said.

Ojangole said effective procurement can help build resilient value chains, support local enterprises and encourage responsible private-sector participation in Uganda’s economic transformation.

That, however, requires a supplier base that is capable of competing on quality, integrity and performance.

The forum comes as procurement systems across Africa are being reshaped by several trends, including open contracting to improve transparency, professionalisation through training and certification, deliberate promotion of local content and the growing adoption of green and sustainable procurement.

For Ugandan suppliers, the changing environment means that winning public contracts increasingly requires more than submitting a bid.

Participants at the UDB forum were taken through the procurement regulatory framework, proactive engagement during the bidding process, self-assessment, compliance and submission discipline, as well as the rights and obligations of both bidders and procuring entities.

The discussions also brought together procurement professionals from institutions including Kampala Capital City Authority, Bank of Uganda, Electricity Regulatory Authority and PPDA.

The broader message from the forum was that Uganda’s procurement system sits at a critical intersection between public expenditure and economic transformation.

With a substantial share of national resources flowing through procurement, ensuring that more of that spending generates domestic enterprise, skills, jobs and sustainable value chains could make procurement an important multiplier of the country’s Tenfold Growth Strategy.

The post PPDA Roots for Procurement as Driver of Local Wealth Creation appeared first on 256 Business News.

The air cargo industry is moving into a more operational phase of digital transformation, with technology, data and global standards increasingly being applied to solve everyday challenges in cargo handling, security and delivery reliability.

That shift will be a central focus of the 2026 International Air Transport Association (IATA) Cargo Experts Conference (CEC), which will bring industry specialists together in Budapest, Hungary, on September 23–24 under the theme “From Expertise to Execution.”

Rather than focusing solely on emerging technologies or industry standards, the conference will examine how cargo operators can translate expertise into practical improvements across the supply chain.

“CEC brings cargo experts together to share what works, tackle common challenges, and take away tangible ideas they can apply in their own organizations,” says Brendan Sullivan, IATA’s Global Head of Cargo.

The conference will examine three areas that increasingly determine the efficiency and resilience of modern air cargo operations: digital cargo, safety and security, and pharmaceutical and cargo operations.

The other significant area of focus will be the continued adoption of ONE Record, IATA’s framework for creating a common digital record of a shipment and enabling information to move more seamlessly between participants in the cargo chain.

The conference will look at how APIs, artificial intelligence and automation can move beyond experimentation and become part of routine cargo operations.

The emphasis will include cargo security, shipment visibility, data quality and interoperability — issues that are particularly important as cargo journeys involve multiple airlines, airports, handlers, customs agencies and logistics providers.

For African markets, where fragmented processes and paper-based documentation can still add friction to cross-border trade, greater interoperability could help reduce delays while improving the visibility of goods moving through regional and international supply chains.

The conference will also address the changing security environment facing air cargo, including the safe handling of dangerous goods and the growing challenge posed by undeclared lithium batteries.

As batteries become increasingly embedded in consumer electronics and other products moving through global supply chains, accurate shipment information and stronger risk assessment are becoming essential to aviation safety.

Better information can also help operators identify risks earlier and strengthen oversight across the cargo journey.

Pharma puts resilience under pressure

The third track will examine pharmaceutical and cargo operations, where the cost of operational failure can be particularly high.

Temperature-sensitive medicines and other pharmaceutical products require reliable ground handling, cold-chain management and compliance throughout their journey. IATA says smarter compliance and real-time data can strengthen resilience and improve the management of pharmaceutical shipments.

The broader message ahead of the conference is that the future of air cargo will not be determined simply by having better technology, but by how effectively operators integrate that technology into everyday processes.

The Budapest conference will therefore offer a window into how the global air cargo industry is attempting to turn digital standards and technological capabilities into measurable operational improvements.

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For Ugandan manufacturers seeking to expand into regional markets, the ability to move money as efficiently as they move goods is becoming an increasingly important part of export competitiveness.

Mbale-based manufacturer, importer and exporter UKI Uganda Limited is seeking to address one of the practical obstacles to its expansion into East and Central Africa by leveraging Equity Bank’s regional banking network.

The company says delays and complexity in cross-border payments, particularly in the Democratic Republic of Congo (DRC), have affected the ease with which it can serve customers and manage liquidity as it expands its distribution footprint.

Through Equity Bank’s interconnected operations in Uganda, Kenya and the DRC, UKI is seeking to reduce its reliance on third-party payment agents and multiple financial institutions, potentially shortening settlement times and lowering transaction costs.

Faster settlement can improve cash flow, allow businesses to replenish stock more quickly and provide greater flexibility to respond to demand in regional markets.

Equity Bank Uganda Managing Director Gift Shoko said the bank’s expanding regional footprint provides an advantage to businesses seeking to trade across African markets.

The bank is also positioning its regional infrastructure as a tool for helping Ugandan exporters manage collections in overseas markets.

Olivia Mugaba, Head of SME at Equity Bank Uganda, said exporters can use non-resident collection accounts to collect local sales proceeds in markets such as the DRC and transfer funds back to Uganda, subject to applicable export licences and regulatory requirements.

For UKI, simplifying how customers in the DRC pay for its products is a priority.

“Our customers in the DRC need a simpler way to pay for their supplies. Relying on local payment agents takes time and slows down business,” said Anant Kumar Manjithia, Managing Director of UKI Uganda Limited.

“We want to test a direct model where buyers in Congo can deposit funds into our account seamlessly, quickly and without extra charges,” he said.

The proposed approach could reduce one of the less visible costs of intra-African trade: payment friction between buyers and sellers operating in different financial jurisdictions.

While the movement of goods across African borders has received considerable attention through initiatives such as the African Continental Free Trade Area, the financial infrastructure supporting those transactions remains an important part of whether businesses can successfully scale.

For Ugandan manufacturers, access to regional banking services can therefore become an extension of their export strategy rather than simply a financial service.

The Equity-UKI relationship also extends beyond cross-border payments, with the bank providing customised financial solutions and capacity-building support for UKI’s broader business ecosystem, including distributors and employees.

The experience of UKI illustrates the importance of financial connectivity as Ugandan companies seek to convert regional market opportunities into sustainable export growth.

The DRC, in particular, represents a significant market for Ugandan businesses, but operating successfully there requires more than identifying customers. Companies must also be able to collect revenues efficiently, maintain liquidity and keep their supply chains moving.

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The growth of the Sino-Uganda Mbale Industrial Park is creating a wider financing opportunity for manufacturers, suppliers and service businesses around the industrial hub, following a partnership between Equity Bank Uganda and Tian Tang Group.

The partnership is designed to improve access to finance for businesses operating within the industrial ecosystem while strengthening the financial and management capabilities needed to sustain expansion.

Tian Tang Group has established a manufacturing ecosystem supporting more than 2,000 enterprises and providing employment to about 15,000 Ugandans. Equity Bank will provide tailored financial solutions to businesses linked to the ecosystem, including working capital, business loans and corporate banking services.

The financing is expected to support enterprises seeking to increase production, acquire machinery and meet day-to-day operational requirements as manufacturing activity expands.

For Uganda’s industrialisation agenda, the significance of the partnership extends beyond the factories located within the park.

A growing manufacturing base creates demand for local suppliers, transport and logistics operators, construction companies, food businesses, traders and other service providers. Improving their access to finance could therefore help spread the economic impact of industrial investment across the surrounding economy.

The partnership also includes a financial capability component, with Equity Bank supporting entrepreneurs and workers through training in financial literacy and business management.

The training will cover areas including cash-flow management, bookkeeping, financial discipline and corporate governance.

For smaller businesses, better financial records and stronger management systems can be important in moving from informal or relationship-based financing towards formal credit. Building credible financial histories can improve their ability to demonstrate capacity to lenders and finance further expansion.

Laurent Zhang, Administrative Manager at Tian Tang Group, said stronger collaboration between industrial enterprises and financial institutions would be important to sustaining growth.

“By strengthening this relationship, we can unlock the financial solutions needed to accelerate enterprise development and drive economic transformation,” he said.

Equity Bank Uganda Managing Director Gift Shoko said the initiative reflects the bank’s wider focus on linking financial services with Uganda’s industrial and socio-economic development.

“This initiative is dedicated to transforming lives within the local community, which directly aligns with our core mission to champion socio-economic prosperity and sustainable development,” Shoko said.

Equity Bank brings an extensive distribution network to the partnership, with more than 50 branches, over 9,000 agency banking outlets and more than 2,000 merchants across Uganda.

The scale of that network could be particularly relevant to enterprises outside the industrial park itself, allowing businesses participating in the wider value chain to access financial services closer to where they operate.

The partnership points to a broader challenge for Uganda’s industrialisation: ensuring that investment in industrial parks generates stronger domestic business linkages rather than remaining concentrated within individual factories.

As manufacturing capacity grows in Mbale, the ability of local enterprises to supply inputs, provide services, move goods and meet the consumption needs generated by industrial employment will determine how widely the benefits of the park are distributed.

For Mbale and the surrounding communities, the Equity-Tian Tang collaboration therefore offers a model in which industrial investment is matched by enterprise finance and financial capability, potentially extending the economic footprint of the industrial park well beyond its factory gates.

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Uganda’s investment proposition is strengthening as improving macroeconomic stability, rising foreign exchange reserves and the prospect of commercial oil production combine to create new opportunities across the economy.

Economist Stella Otieno told an Equity Bank Uganda trade and investment webinar on August 13 that Uganda had sustained economic growth of more than six per cent over the past three financial years, while inflation remained within the Central Bank’s target range.

“Growth has been above six per cent for the previous three years. Inflation has been stable and under four per cent within the target, and we also have stable policy rates,” Otieno said.

The webinar was held ahead of Equity Bank’s third Trade Mission in Uganda, scheduled for September 13–16 in Kampala, which will bring together international, regional and local investors to explore opportunities and partnerships.

This year’s mission will focus on agriculture, particularly coffee, extractives, manufacturing, services and tourism.

Oil could lift growth into fifth gear

Otieno said real GDP growth in the 2025/26 financial year was about six per cent, while inflation stood at four per cent in July, below the medium-term target of five per cent.

The Central Bank Rate has remained at 9.75 per cent since October 2024, offering businesses greater predictability when making investment and financing decisions.

Foreign exchange reserves have also strengthened, rising from about USD3.3 billion in January 2025 to USD6.7 billion by June 2026.

For investors, Otieno said, the stronger reserve position and relative exchange-rate stability reduced some of the external-sector risks associated with investing in an emerging market.

“The macroeconomic environment is favourable,” she said, adding that Uganda’s current challenges should be viewed against an economy preparing for a significant transformation, particularly with oil production approaching.

Commercial oil production is expected to become a major growth catalyst. Otieno projected that economic growth could accelerate to between eight and 10 per cent in 2026/27 as oil production begins, potentially taking Uganda into double-digit growth.

Oil revenues could also strengthen the country’s fiscal and external positions.

However, Otieno cautioned that investors would still need to watch Uganda’s fiscal position. The fiscal deficit was estimated at 7.1 per cent at the end of 2025/26, while the current account deficit stood at about 6.5 per cent of GDP.

She said much of the pressure on the current account was linked to private-sector imports associated with oil and infrastructure investments, with higher export earnings expected to help narrow the deficit once oil production starts.

Coffee adds another export engine

While oil is expected to reshape Uganda’s growth outlook, agriculture remains at the heart of the investment opportunity.

Coffee, in particular, is emerging as a major source of export earnings. Otieno said coffee and gold were among Uganda’s largest foreign exchange earners, with the country becoming Africa’s largest coffee exporter in 2025.

Coffee export earnings reached USD2.2 billion in the 12 months to June 2026, highlighting opportunities extending well beyond primary production.

The larger investment opportunity lies in building capacity for processing, logistics, agro-processing and other forms of value addition so that Uganda captures a greater share of the value generated from its agricultural commodities.

Investors looking beyond the numbers

Catherine Psomgen, Director of Public Sector and Social Investments at Equity Bank, said investors required reliable information, supportive policies, access to finance, credible local partners and financial institutions capable of understanding their ambitions.

“At Equity Bank, we see our role as extending beyond traditional banking,” Psomgen said.

She said the bank sought to act as a financial and business-enablement partner by connecting investors to finance, markets, information, technology and strategic relationships.

With Equity Group’s presence across several African markets, she said the bank could also support investors using Uganda as a gateway to the wider East and Central African markets.

Uganda Investment Authority Deputy Director for Investment Promotion Rita Nabateregga said Uganda was entering an important phase of industrialisation, with government seeking to use the country’s natural resources to create jobs and promote local value addition.

Agriculture and minerals, she said, offered opportunities to shift Uganda away from exporting raw materials towards greater processing and industrial production.

That shift could broaden the investment opportunity across agro-processing, manufacturing, logistics, energy, minerals, infrastructure, tourism, services and technology.

For Uganda, the investment story is increasingly moving beyond the promise of resources. The central question, however, is whether rising investment can be converted into productive enterprises, jobs, local value addition and sustained economic transformation.

Experts say the next phase will depend on how effectively capital, technology, expertise and partnerships are deployed to build competitive businesses around those resources.

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