Business

Minister Kyambadde: Uganda Still Conducive for Big Investments

The Minister of Trade, Industry and Cooperatives Hon Amelia Kyambadde has said Uganda’s economy is growing comparatively and still very conducive for big investments like big supermarkets/stores.

The Minister was yesterday officially launching the first ever Carrefour store in Uganda at the Oasis Mall at Yusuf Lule Road where Nakumatte that closed recently used to be.

Carrefour is Owned by Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asian

“Uganda’s economy is growing at 6%. There is also a growing middle class that is demanding for superior quality products which a super market like Carrefour will provide as alternative shopping center for quality products,” she said.

“We also have in place supporting laws, regulations and an atmosphere that supports investment growth.”

The new store covers 2,800 square meters and has over 20,000 product brands both local and international.

The Company has already employed over 180 Ugandans and has contacted over 260 local suppliers to supply fresh agricultural products to the supermarket

Presiding over the opening, Kyambadde said Uganda’s population, coupled with a vibrant economy will support Majid Al Futtaim’s commitment to Uganda.

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“By building the capacity of local suppliers, Majid Al Futtaim is encouraging value addition which will in turn help to boost household incomes. This supplements the Government’s job creation efforts and also helping to strengthen the Government’s ‘Buy Uganda, Build Uganda’ policy and that they will continue to support companies that promote inclusive growth in their operations” she added

Hani Weiss, Chief Executive Officer of Majid Al Futtaim – Retail explained that Carrefour’s first launch in Uganda is an integral part in the retailer’s long-term ambition of strengthening its presence in the East African region

“We are committed to operating in Uganda for the long term and are happy for the opportunity to contribute to further developing the retail sector to the benefit of the community. Carrefour is here to modernize the grocery retail sector by bringing international best practices, and delivering the best value products to our customers, as we work to realize our vision,” he said

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