Friday, October 22, 2021

Dubai Expo: Uganda Inks $900m Investment Deals, Targeting $1.4 Billion

The Chairman Uganda Investment Authority (UIA), Morrison Rwakakamba has revealed that Uganda has in just days sealed off investment deals worth $900m.

The UIA boss made the revelation during an interview with MediaScape News an Online news platform.

“We have signed deals worth $900m. This is not a bad performance given that our target is $4 billion in the next six months. These deals are all confirmed,” Rwakakamba said.

Rwakakamba said that government has so far closed deals covering Agro-processing, minerals processing and pharmaceuticals.

“Our biggest deal so far is from Connect LLC worth $500 million. They are interested in Renewable energy projects, electricity generation and smart energy-storing as well as transportation,” Rwakakamba revealed.

He noted that the second deal is from Modha Investments, Riqueza General Trading, Gheli International and Clifton Packaging Group totaling $150 million all interested in processing Avocado, Macadamia nuts and Cashew nuts.

Others are into leather processing as well as packaging.

“The third deal is from M/S Elite Agro LLC based in UAE. They are interested in processing Fruits, Vegetables and Irish potatoes and the deal is worth $50 million,” Rwakakamba added.

He observed that the fourth deal is by Guangzhou Wondfo Biotech Company worth $50 million and are interested in establishing a pharmaceutical plant.

“All these are confirmed deals waiting for the signing ceremony later on today to confirm what I am telling you,” Rwakakamba noted.

He explained that government is using the online platforms (e-biz) and strategic targeting of high net worth investors. Our strategy is also to curate and midwife joint ventures with local Ugandan investors.

Commenting on social media critiques, Rwakakamba noted that as far as he is concerned, government is delivering as expected.

“As far as we are concerned, we are delivering. I don’t understand what their problem is. Our target is clear. We are looking at investment worth over $4 billion in the next 6 months. And we are confident we will deliver. That is what Ugandans want. Ugandans want Jobs and we can only guarantee these by attracting investment,” Rwakakamba said.

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