Regional Private Sector players and financial leaders meeting in Kampala have called for urgent action to unlock financing, strengthen infrastructure and develop the skills needed to accelerate Africa’s industrialization, with Tukundane Casbart emerging as a key voice in the discussions
Speaking during the Annual Regional Industrialization Conference 2026 held at Kampala Serena Hotel under the Private Sector Foundation of Uganda, Tukundane Casbart, the managing director Rwahi Investments Limited, and other delegates argued that traditional sources of finance alone cannot meet the scale of investment required to build competitive industries across Africa.
They called for stronger domestic resource mobilization and the development of financial institutions capable of supporting large industrial projects.
Among the proposals were increased uses of regional development banks, guarantee funds, pension funds and diaspora remittances, as well as greater foreign direct investment. Delegates also emphasized the need to connect small and medium-sized enterprises to large cooperatives and industrial value chains.
The financing discussion was further strengthened by calls from speakers associated with DFCU Bank for blended finance, export credit financing, stronger cooperative governance and improved tax compliance.
Speakers proposed targeted technical and vocational education, particularly in engineering and digital skills, alongside capitalization of joint financial institutions to finance major industrial projects.
Representatives of the Tanzania Private Sector Foundation and Rwanda’s Private Sector Federation, including Deogratias Masanawe and Faustin Karasira, stressed that Africa’s industrialization will remain difficult if businesses cannot move money, goods and services easily across borders.
They called for easier regional money transfers and the removal of non-tariff barriers that continue to increase the cost of doing business across African markets.
Uganda’s economy was also cited during the discussions, with its GDP put at approximately US$75 billion, about half the size of Kenya’s economy.
For Casbart and other private-sector leaders, the message from the conference was clear: Africa cannot achieve meaningful industrial transformation without access to affordable capital, reliable energy, skilled workers and modern digital and transport infrastructure.