The investors who attended the National Science Week 2023 have earmarked $5b (about sh18.7 trillion) to support science, technology and innovations. 

According to the science, technology and innovation minister, Dr Monica Musenero, the National Science Week 2023, which ended on Saturday, November 11, attracted 70 investors from different countries around the globe. 

She said the investors came from the United States, Canada, the United Kingdom, Nigeria, Kenya, Ghana and South Africa. 

The team leader of investors was Kunmi Demuren, the managing partner of Green House Capital. 

Prime Minister Robinah Nabbanja said she is eagerly waiting for the White Paper investors agreed upon, to present to the Cabinet. 

The Prime Minister Robinah Nabbanja and minister Dr Monica Musenero inspecting airstrike innovated by Fancy Manzi during the National Science week at Kololo ceremonial grounds on November 11, 2023. Photo by Francis Emorut

"It is also pleasing to note that during this Science Week, we have attracted over 70 early-stage investors with more than $5 billion for investment. We have learnt that some of them have already committed to investing this money in our country. I urge those who are still around to also make such commitments," Nabbanja said. 

The Prime Minister made the remarks during the closure of the National Science Week 2023 at Kololo Independence Grounds on Saturday. 

“I am eagerly waiting for the White Paper that has come out of the discussion with these investors. I promise that we will do everything possible to create a very conducive environment for these investors," Nabbanja told the audience comprised of innovators, investors, government officials, scientists, students and others. 

During the opening of the National Science Week 2023, President Yoweri Museveni endorsed sh500b to support science and technology. 

This year's National Science Week was held under the theme "UgandaTusimbudde: Our Science-led Journey towards Socio-economic Transformation." 

Nabbanja hailed President Museveni for what she referred to as investing in the foundation of the nation. 

Prime Minister Robinah Nabbanja examines a shoe locally made in Uganda during the closure of National Science week at Kololo ceremonial grounds on November 11, 2023. Right is an investor Kunmi Demuren from Green House Capital. Photo by Francis Emorut

"I appreciate His Excellency the President of the Republic of Uganda and the National Resistance Movement Government for investing in the foundations of our nation. What we are seeing here has been possible because of our strategic programmes such as Universal Primary Education, Universal Secondary Education infrastructural developments (roads, power), and Presidential Initiatives on science, technology and innovation, among others," she stated 

Nabbanja informed guests that as Prime Minister and leader of government business in Parliament, she will work with the different ministries such as finance and all other stakeholders to ensure that the sh500 billion President Museveni committed to providing is made available. 

She added that she is going to work closely with the finance ministry to ensure that sh500b is incorporated into the 2024/25 budget. 

Nabbanja also echoed President Museveni’s pledge of giving tax holidays to young innovators, saying it is going to be realised. 

"I am going to ensure that the young businesses set up by our innovators enjoy a tax holiday of 10 years. I urge the Secretariat to prepare the relevant documents and bring them to the Cabinet so that proper policies are put in place to guide this process," Nabbanja stated. 

The Premier pledged her commitment to support the Minister of Science, Technology and Innovation and her team to realise their mandate of promoting science and innovation. 

She told the audience that science, technology and innovation are some of the country's strategic areas in the current National Development Plan NDP III and Vision 2040. 

Nabbanja said she will continue to coordinate the entire Government to ensure that her team accelerates the achievement of the country's vision of socio-economic transformation. 

She appealed to the stakeholders to introduce science, technology and innovation at the primary school level in order to bring a new generation that is responsive to technological advancement. 

Nabajja asked the science ministry to work closely with the education ministry to ensure technology and innovation are introduced at the primary school level. 

About the investors’ commitments, Dr Monica informed Nabbanja and the audience that her ministry has already signed some deals with the investors. 

"We have already signed some deals where investors are ready to fund the science and technology," Musenero said. 

The Prime Minister toured the exhibition stalls accompanied by the minister and some investors.