October 20, 2021

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Uganda strikes Shs3.2tn deals at Dubai expo

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Uganda has struck several deals worth Shs3.2 trillion at the Dubai 2020 Expo.

This is according to information shared by Uganda Media Centre.

According to Uganda Investment Authority (UIA), the investment deals signed cover sectors like healthcare, energy and transportation.

Letter of Intent signed with different players

Connect LLC: The UAE conglomerate has a raft of projects it will undertake in Uganda, including a renewable energy project that will generate electricity. It will also provide smart energy, storing last mile supply and billing of all utilities and the planning and building of innovative public transport routes. Planned investment: &500m (Shs1.8 trillion).

Guangzhou Wondfo Biotech Co: A high-tech company founded in 1992 and headquartered in Guangzhou, China. It has manufacturing plants in China, USA, Mexico, Kazakhstan and Brazil. The company is to invest in a pharmaceutical facility to manufacture diagnostics kits for HIV/Aids, Malaria, TB, and other POC diagnostic technology. Planned investment: $50m (about Shs176b).

Worldera Corporation: An industrial, manufacturing, shipping and commodity trading company resident in Dubai. The company plans to invest in mineral processing focusing on gold, gemstones, limestone, gypsum, clinker, the agricultural sector, focusing on palm oil and the education sector and to set- up vocational training centres. Planned investment: $50m.

Modern Group: The conglomerate will make extensive investments in a number of areas that include manufacturing of tiles, ethanol, pharmaceutical and agriculture, as well as developing mining operations in Uganda. Planned investment: $50m.

Modha Investments: It is a global financing conglomerate investing in commercial agriculture, food processing, agreed a multimillion dollar commitment under a further memorandum of understanding signed yesterday. They will focus on the development and commercialisation of cashew nuts, macadamia nuts and hass avocado in Uganda. The company has established a wide market in Europe, Asia and UAE for the supply of hass avocado and nuts.

Dog Yapı İnşaat Tur. Enerji Ur San. Ve. Tic. A.: It is a Turkish company intending to construct industrial and business parks that will include faculties such as fruit and vegetable wholesale market, a truck station, cold stores, warehouses and slaughterhouses.

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