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Uganda Still Fertile for Investment – Stanbic’s Mweheire

Patrick Mweheire Stanbic CE (R), MTN Chairman Charles Mbire (C) and Jimmy Mugerwa Tullow Oil General Manager (L) share a light moment at the Kampala Sheraton Hotel during the Stanbic and Industrial and Commercial Bank of China Limited (ICBC) Oil &Gas conference which was held to discuss partnership opportunities between Ugandan and Chinese businesses in the country’s Oil & Gas sector

The Chief Executive Officer of Stanbic Bank, Patrick Mweheire, has asked Chinese and Ugandan investors to seek out the available investment opportunities in Uganda, especially in the oil and gas sector.

Mweheire noted that Uganda is still fresh with a lot of fertile investment opportunities in sectors like, minerals, agriculture, health and energy.

“Uganda is just a developing economy that is still lacking in areas like the new oil and gas sector, technology, agriculture and health. All these are opportunities that investors can take advantage of,” he said.

Mweheire who also doubles as the ED of the minerals and energy sector, was speaking to Chinese and Ugandan investors who converged at the Sheraton Hotel in Kampala on Friday for the Uganda-China oil and gas forum that was hosted by Stanbic Bank and the Industrial and Commercial Bank of China limited (ICBC).

He added that the Ugandan government has in place favorable structures and policies for all kinds of investors.

“Uganda is ranked high in Africa as an investment destination. We have political stability, a big young and energetic population that is willing to work and the political of the government. These are major factors for long investments.”

He added: “It is also for the Chinese and Ugandan investors to work together on major investments to supplement each other in areas where they are lacking.”

The Chief Executive Officer ICBC, Wang lubin, said China has always enjoyed a good relationship with uganda and that its citizens would be willing to invest in bigger investments.

“We have special interest in Uganda because of the great brotherly relationship that the two countries enjoy. We have been working with government of Uganda in bigger infrastructure projects. We are willing to work with them in future,” he said.

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