In an exclusive interview, one-on-one with our reporter from Lira City on Wednesday, 22nd November 2023, Dr. Morris Chris Ongom, the Chairman of the Chamber of Commerce and Industry, Lira Branch, disclosed the details of the MOU signed between them and TBN. Dr. Morris discussed the details of the MOU during his one-hour interaction/interview with The Ankole Times newspaper reporter.
“We have delivered our first partnership MOU for five years with Transformation Business Network Africa (TBN),” said Dr. Morris Chris Ongom. Details of the MOU, as narrated and illustrated by Dr. Chris, go as follows:
“Let me start by thanking the Lord for this first partnership delivered within the first two weeks of our elections. I congratulate the new Board and hope for numerous opportunities that will strengthen the chamber’s secretariat, membership, and the economy of Lira City and Lango sub-region as a whole.
We shall be sharing with you more information on how you can participate in this business development training for investment and capital access readiness! Below is an extract of the terms of the MOU that we signed on Wednesday.
PURPOSE AND SCOPE OF THE PARTNERSHIP:
2.1. The Uganda National Chamber of Commerce and Industry, Lira Branch, and TBN, in the pursuit of a joint collaboration and the development of SMEs, agree:
2.2. To jointly support the members of Uganda National Chamber of Commerce and Industry, Lira Branch, with capacity development and mentorship, investment readiness, and facilitation to capital for eligible members. We aim to support and promote the scale and growth of Uganda National Chamber of Commerce and Industry, Lira Branch members.
COMMENCEMENT DATE AND TERM:
- This MOU will commence on the 1st of December 2023, notwithstanding the date of signature by the last Party, and shall run for a period of five (5) years with effect from the Commencement Date.
- This MOU may be terminated by either Party by giving thirty (30) days’ written notice to the other Party. The Parties may mutually agree to terminate this MOU at any time, and such an agreement shall be reduced into writing and signed by the Parties. The termination of this MOU shall not affect the validity of the resultant obligations or duration of any pending arrangements made under this MOU unless the Parties agree otherwise in writing.
- The Parties shall have the option to renew this MOU by entering into an MOU for the renewal period of six (6) months or any further period agreed upon by the Parties. The renewal shall be in writing and signed by the Parties and shall be agreed upon at least one (1) month before the expiry date of this MOU.
OUTCOMES SOUGHT THROUGH THE MOU:
i. Undertaking and contributing to capacity-building initiatives of business enterprises by the Parties.
ii. To build on the complementarities of each Party’s strategies, strengths, resources, and approaches.
iii. To be transparent and open regarding expectations of each other and during collaboration.
iv. To articulate clearly the benefits to each Party and have mutual and respectful relationships.
v. To develop an inspiring business environment that will produce competent and skilled entrepreneurs.
DUTIES OF THE UGANDA NATIONAL CHAMBER OF COMMERCE AND INDUSTRY, LIRA BRANCH:
The Uganda National Chamber of Commerce and Industry, Lira Branch, undertakes to:
i. Introduce TBN to its members by providing a pipeline of entrepreneurs and creating awareness about TBN support to the entrepreneur ecosystem, such as through info-sessions.
ii. Provide consultants that will be fit to train the modules as per the TBN scale for the Success program when the need arises.
DUTIES OF TBN:
TBN undertakes to:
i. Make available its existing scheduled accelerator programs that aim to enable entrepreneurs to become investment-ready and scale through mentoring and technical assistance.
ii. Provide an enabling environment for the development of record-keeping, business management, and performance testing for wider use and application by SMEs and actors in Uganda.
iii. Facilitate investment for investment-ready Uganda National Chamber of Commerce and Industry, Lira Branch members that have completed a scheduled TBN accelerator program.
Driving our development through private sector-led growth.
God bless you all,
I remain,
Dr. Morris Chris Ongom
Chairman, Chamber of Commerce and Industry, Lira Branch.
