After nearly four transformative years at the helm of the Stanbic Business Incubator, Tony Otoa is embarking on a new chapter as the Chief Corporate Affairs Officer at the Uganda National Oil Company (UNOC).
In a recent interview with CEO East Africa Magazine, Otoa reflected on the profound impact of the Stanbic Business Incubator, which under his leadership, provided invaluable support to over 3,000 Ugandan SMEs. Many of these enterprises, particularly those within the oil and gas sector, found a guiding light through the Incubator, navigating the complexities of an industry marked by uncertainty and volatility.
As Otoa transitions to his new role at UNOC, his dedication to empowering Ugandan SMEs remains steadfast. With UNOC’s mandate to oversee the government’s commercial interests across the oil and gas value chain, Otoa sees an opportunity to continue his mission of enabling local businesses to thrive and realize their full potential.
However, Otoa is quick to acknowledge the enormity of the task ahead. “We’ve only scratched the surface,” he remarks, emphasizing the vast array of challenges and opportunities that lie ahead. From supporting existing SMEs to fostering an environment conducive to new entrants, Otoa believes that concerted efforts are required at every level to unlock the sector’s true potential.
Comrades, it’s with a mix of emotions that I share this message with you all. After 6 incredible years as founding Chief Executive of the Stanbic Business Incubator Ltd, a subsidiary of Stanbic Uganda Holdings Ltd., the time has come for me to embark on a new journey.
— Tony Otoa (@Comrade_Otoa) April 15, 2024
This… https://t.co/VeNZ2gQkmW
As he embarks on this new journey, Otoa remains guided by a singular vision: to harness the power of Uganda’s oil and gas resources for the benefit of all its citizens. Whether through capacity-building initiatives, policy advocacy, or strategic partnerships, Otoa’s commitment to driving positive change in the industry is unwavering.
In the ever-evolving saga of Uganda’s oil and gas sector, Tony Otoa’s story serves as a testament to the transformative power of passion, perseverance, and purpose. As he continues to chart new frontiers in his quest to build a brighter future for Uganda, one thing remains certain: his legacy as a champion of local entrepreneurship and economic empowerment will endure for generations to come.
