Evelyn Anite, the state minister of Investment and Privatisation, has emphasized the government’s commitment to attracting investors to rural areas, highlighting the crucial role infrastructure development plays in unlocking economic potential outside Kampala.
She added that peace and stability prevails across the country, making rural zones viable for investment.
“It is not possible for investors to go into a rural area when they are not sure of the security. We are assuring them that there is peace and stability in those areas, they should come,” she said.
She was speaking during Equity group’s recent trade and investment mission. Anite highlighted the government’s efforts in developing industrial parks in all the 18 zones of the country with reliable electricity, water, and internet services.
“These zones are strategically located at border points, facilitating access to larger markets such as the Democratic Republic of Congo (DRC), South Sudan, and Sudan.”
The trade and investment mission led by Equity Group, brought together investors from Africa and beyond to explore opportunities in Uganda and Tanzania. The mission, organized in partnership with Equity Bank Uganda and Tanzania, aimed to promote cross- border trade and regional value chains.
Over 50 investors participated in panel discussions, site visits, and networking opportunities focused on sectors such as agriculture, renewable energy, tourism, infrastructure, and manufacturing.
While giving his keynote speech, Dr. James Mwangi, the managing director of Equity Group, highlighted the significance of the trade mission and the strategic effort it plays in unlocking the enormous potential that exists in Tanzania and Uganda by connecting global capital to local opportunities.
“Our goal is to catalyze investment and trade that delivers lasting impact by creating jobs, enhancing value chains, and driving inclusive economic growth. Gift Shoko, the managing director of Equity Bank, stressed the bank’s role in fostering financial inclusion and supporting investment. He noted that the Equity group’s trade mission forms part of the bank’s Africa Recovery and Resilience Plan, which is designed to enhance investment within the region and across the continent.
“Our group planned to mobilize $6 billion between 2020 and 2030 to promote investment in East Africa, which represents about 2 percent of the East African Community’s GDP. We have trade finance instruments that can quickly support exports of goods from Uganda into Europe,” he said.
Ramzi Ajami, Bpifrance’s export development advisor, who attended the trade mission, highlighted the importance of investors collaborating with local partners to enhance capacity and encourage joint development.
“We prefer to enter markets by partnering with local businesses to create bridges and promote commercial trade between France and Uganda,” he said.
It seems that this is a minister determined to put up industries not only in urban zones but in the countryside as well. That why NRM has always been preaching great modern development against any environmental considerations. The Namanve Industrial Park has no more of those great natural forests surrounding one of the largest fresh water lake in the world. NRM even had a programme to uproot the famous Mabira Forest and provide cheap land to foreign investors. There are no trees planted or green parks in the new industrial park. As it is not in the modern international city of Kampala. It is all desert lands with concrete and solid warehousing and shopping spaces. In the rural areas, one would hope that large plantations of sugar cane mixed up with forests and coffee palantations would suffice to drive the economy of this country to greater heights of modern development! Rural areas can still be very productive with grasslands to crop pasture for animal production. Farmers fallow land so that fertility is enhanced. Agricultural industries are very many in this world that can occupy a bigger portion of the economy of this country without trying to compete or worry about the Chinese industrialists. The living people of earth is about 8.2 billion people who need to eat breakfast, lunch, supper everyday, every week, every month throughout this year. That is already big business for Uganda to be involved in!