Museveni To Market Uganda’s Potential at London Summit

Local musician, doctor help Ibrahim Mayanja better known as Big Eye is in grief after his car was burnt to ashes in his compound parking as he slept Sunday night at his home in Makindye.

Big Eye took to Facebook to tell his fans about his burnt car. He also shared pictures of the burnt car with the caption, “Anyone who did this, God is watching you. How could you burn my car, what did I do to you. My car has been burnt last night in my home car parking. I really don’t know why.”

The intentions of the arsonists are still not clear but police is carrying out investigations as to who might have vandalized Big Eye’s car. Police officers are also combing through the surrounding areas to get clues about the whereabouts of the suspects.

The ‘Physically Fit’ star on Saturday 18th October performed at Bobi Wine’s ‘Size Yo’ concert at One Love Beach, Busabala where he got into a fight with DJ Isaac and DJ Tony. He is said to have left peacefully with just his bouncers.

His fans advised him to take heart and just thank God that they spared his life. Others told him to let police do their work in catching the arsonists that did the merciless act.

The car was burnt from just outside the singer's residence
The car was burnt from just outside the singer’s residence
President Museveni is in London, here United Kingdom for the Global African Investment Summit [TGAIS], sales Chimp Corps report.

The 2-day Summit, medical to be chaired by former Nigerian President Olusegun Obasanjo, will seek to direct funds from some of the world’s largest institutional investors into projects across five African countries, namely Uganda, Tanzania, Rwanda, Ghana and Togo.

President Museveni is expected to showcase 14 projects at the Summit for which the Government of Uganda is targeting investors for financing in key sectors of the economy especially agriculture, infrastructure and natural resources.


President Museveni, who was accompanied by his wife, Hon Janet Museveni, was received this morning at Luton Airport by Uganda’s High Commissioner to the United Kingdom, Prof. Joyce Kikafunda, the Military Attaché at Uganda’s London High Commission, Col. Winston Byaruhanga and Deputy High Commissioner Mr. Isaac Sebulime.

The Presidents of Tanzania, Rwanda and Ghana are expected to attend the Summit that has been designed as a platform for African governments to bring bankable projects to the international market, targeting a range of investors.

Uganda will at this meeting solicit for investors to finance projects in key industries including agriculture, infrastructure and natural resources.

Chimpreports understands that this includes a PPP project, the Kampala – Jinja Road (77.1 km), which will generate regional impact as the main gateway for exports and imports to the port of Mombasa on the Kenya coast not only for Uganda but also for the other landlocked Eastern African nations: Rwanda, Burundi, South Sudan and Eastern DRC, enabling greater regional integration and dramatically reducing the cost of doing business in the region.

The project is expected to promote economic regeneration and access to jobs (11,000 new jobs are envisaged); better provision and access to social services, and an increase in land value.

Together with proposed new rail and port projects in, Uganda is set to transform the country’s infrastructure, which will significantly reduce the cost of finished goods, open up commercial opportunities for adjacent sectors and contribute to boosting Uganda’s competitiveness.

According Mr. Paul Sinclair, who is the London Summit Director, the stable political and fiscal environment that is enjoyed by Uganda, is a key attraction to investors.

Ugandan officials in London are expected to show investors that the country enjoys a stable political and fiscal environment and that it is undertaking policy reforms to attract investment into key sectors.

Endowed with significant natural resources, including ample fertile land, regular rainfall, oil reserves in Lake Albert and mineral deposits, Uganda is expected to undergo an increase in real GDP growth to an annual average of 6.7 percent in 2014-17 as external demand rises, and to 15.6 percent in 2018 as oil production starts.

Most of Uganda’s industry is related to agriculture, and coffee alone accounted for about 17 percent of the country’s exports in 2013.

As Africa’s leading coffee producer, Uganda is looking to expand its value chain to over 150 farmer associations and cooperatives to structure the sector more efficiently and focus on value addition.

Museveni will tell investors that Uganda is also preparing a geothermal Joint Venture project at the Buranga prospect with capacity of 100MW as part of its strategy to promote renewable energy sources as alternatives or supplements to other traditional energy sources.

Sinclair said, “The Global African Investment Summit will see government delegations from Africa present bankable investment opportunities to an audience of institutional investors, fund managers, PE firms and large corporations. By focussing on these projects we believe that we will trigger deal making and spur investment partnerships, enabling job creation, technology transfer and economic growth.”

TGAIS enjoys strong support from the United Kingdom government.

African government delegates will attend a private luncheon at Buckingham Palace on the opening day, and Britain’s Minister for Africa, Hon. James Duddridge will host a gala reception at the Foreign and Commonwealth Office for all participants at the conclusion of the Summit.

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