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UIA to Nigerian investors: Uganda Still Raw for Investment

A visiting delegation from the Nigeria- Uganda Chambers of Commerce, Industry, Mines and Agriculture (NUCCIMA) that is in the country for a four-day business visit have today visited the Uganda Investment Authority to get updated on the available investment opportunities, the tax policies and other investment incentives.

While making her presentation on investment opportunities in Uganda, Hope Waira, the head of Investment Promotion Development at UIA, who represent the UIA Executive Director told the delegation that Uganda is still full of opportunities especially in the agro-processing sector, tourism, mineral processing, packaging, human capital development and other many sectors that are still underexploited hence making them juicy and good investment areas for Nigerian business community.

“Uganda is big on agricultural production but Our major problem is that most of our products are still exported in raw form. If processed, our food products have market in all African countries, Asia and Europe hence it remains the biggest unexploited area that you can venture in. We also have a young energetic youth population that can provide the needed labor,” Waira noted.

She further noted that Nigeria, considering their economic history and status, would be the right community to invest in the mineral sector because they have the skills and capacity.

The delegation is being led by the president of the N-UCCIMA, new business collaboration between Nigeria and Uganda, Chief Michael Awunor.

Chief Awunor in his speech noted that Nigeria and Uganda have a strong relation from way back and that the two countries needed to work together to promote and develop the two countries and the entire continent.

“The Nigerian business community has good finances and expertise in major fields and we are sure that we can use our experiences to bring a positive change in Uganda’s economy,” Awunor noted.

He further noted that the business visits  between the two countries will be an annual event with the next one expected in November 2018 which will be bigger and better with over 100 participants and Nigerian product exhibitions in Uganda.

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He also asked the business community in Uganda to also arrange for a similar visit to Nigeria and exploit opportunities there.

Ambassador Isaac Biruma Sebuline, the director of Regional and International Affairs — ministry of Foreign Affairs, who was the guest of honor at the meeting asked the delegation to use the visit to find investment opportunities but also advise the Ugandan government on how they can make the environment better to attract more Nigerian investors here.

“The Nigerian business community in Uganda is already strong and doing a great job but there are more opportunities for more Nigerians to exploit in Uganda.”

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