Summary:
- A group of Asian investors from the UK plans to invest over $10 million in Uganda, focusing on real estate, agriculture, and pharmaceutical manufacturing. Led by Jaffer Kapasi, they aim to establish a health center and enhance food production with advanced farming techniques. During their visit to Kampala, they sought assurances on land availability and protection against corruption.
KAMPALA, (Examiner) – A consortium of Asian investors based in the United Kingdom has unveiled plans to invest over $10 million in Uganda, focusing on diverse sectors such as real estate, agriculture, and pharmaceutical manufacturing. The delegation, led by Jaffer Kapasi, Honorary Consular General from the Uganda High Commission in London, recently engaged with the State House Investors Protection Unit (SHIPU) in Kampala to discuss their investment strategies.
During a press briefing at the State House, Kapasi outlined the investors’ vision, which includes the establishment of a state-of-the-art health center in Uganda. Additionally, they aim to acquire agricultural land to introduce advanced farming techniques and machinery, enhancing food production and potentially exporting surplus to neighboring countries. This agricultural initiative is seen as a critical step in bolstering Uganda’s food security and economic resilience.
The investors sought assurances from SHIPU about land availability and the necessary support for their agricultural projects. Kapasi confirmed that after receiving positive feedback, the investors are poised to commence their ventures within the next six months.
However, the delegation voiced concerns about corruption and the potential risks to their investments. They stressed the importance of robust protection measures to safeguard their capital and ensure a return on investment in the event of unforeseen challenges.
Colonel Edith Nakalema, Executive Director of SHIPU, assured the delegation of the Ugandan government’s dedication to protecting foreign investments. She emphasized the role of the Investors Electronic Protection Portal, an initiative launched by President Yoweri Museveni, which aims to create a secure and transparent investment environment. This portal provides foreign investors with comprehensive insights into Uganda’s investment landscape and addresses their concerns promptly.
Colonel Nakalema highlighted that some members of the delegation already have investments in Uganda, particularly in the vanilla and construction industries. She reassured the investors that SHIPU would coordinate with all relevant ministries, departments, and agencies to ensure a smooth investment process, free from bureaucratic delays.
Established in May 2023, SHIPU is tasked with ensuring the effective implementation of presidential directives and investment policies. The unit is dedicated to fostering a favorable investment climate by addressing investor concerns and facilitating seamless operations.
With this new influx of investment, Uganda anticipates significant economic growth and development in the targeted sectors. This investment not only promises to boost the country’s economic landscape but also solidifies Uganda’s position as an attractive destination for international investors.
In recent years, Uganda has increasingly attracted foreign direct investment due to its strategic location, abundant natural resources, and favorable investment policies. The commitment from these UK-based Asian investors is expected to further enhance the country’s economic prospects and infrastructure development, providing a much-needed boost to local industries and job creation. The Ugandan government continues to prioritize the improvement of its business environment, ensuring that foreign investors receive the necessary support and protection to thrive in the region.
