KAMPALA:- Pictures and videos showing some of the $900 million deals signed by the Uganda Investment Authority (UIA) team currently at the Dubai Expo 2020, have started streaming into our newsroom.
An excited UAI Chairman Morrison Rwakakamba beamed the content last night and urged Ugandans to be optimistic despite the challenges of marketing a nation at a sophisticated stage.
Despite the criticism on Social Media about Uganda’s performance at the ongoing ‘Dubai Expo 2020,’ the ‘Team Uganda’ have so far inked investment deals worth $900million, an equivalent of 3.3 trillion shillings.
$650m of this was inked yesterday including a $200m one we had not mentioned previously,” Rwakakamba told this website early this morning.
President Yoweri Museveni who is currently in Addis Ababa to attend the inauguration of Prime Minister Abiy Ahmed Ali, said during his working visit to the United Arab Emirates where the expo is taking place, investors can produce anything from Uganda and are guaranteed access the wider market of1.4 billion people.
MediaScape News interviewed Mr. Morrison Rwakakamba about these opportunities and he said more deals are under the table as the Ugandan team consolidates itself at the Expo.
Despite these efforts, a section of Ugandans have been cynical towards the wobbly nature in which the nation prepared for this massive event and called on authorities to up their game.
Some of the deals signed so far include Connect LLC worth$500 million. They are interested in Renewable energy projects, electricity generation, and smart energy storing as well as transportation.
Modha Investments, Riqueza General Trading, Gheli International and Clifton Packaging Group who signed yesterday are totalling their investment up to $150 million. These ones are interested in processing Avocado, Macadamia nuts and Cashew nuts. Others are into leather processing as well as packaging.
There was also M/S Elite Agro LLC based in UAE. They are interested in processing Fruits, Vegetables and Irish potatoes. They signed a deal worth $50million.
Ghangzhou Wondfo Biotech Company signed a deal worth $50 million. They are interested in establishing a pharmaceutical plant.
Additionally, another company Dog-Yap Insaat signed a deal worth $200m.
“Yet another deal signed! Dog-Yap Insaat signed an investment deal worth about USD 200m,” Rwakakamba tweeted last night.
Another company, Modern Group, signed a bigger one totalling up to $100m. They will be engaged in manufacturing of tiles, ethanol, pharmaceuticals, agro processing and mining.
The signing ceremony which took place yesterday October 4, 2021, was witnessed by the Minister of Finance, Planning and Economic Development Hon Matiya Kasaija.