American investors to visit
Sep 25, 2006
UGANDA’s real estate and business fraternity are bracing themselves for American investors, who will tour the country in pursuit of investment opportunities.
,b>By Ricks Kayizzi
UGANDA’s real estate and business fraternity are bracing themselves for American investors, who will tour the country in pursuit of investment opportunities.
Anatoli Kamugisha, one of the organisers of the visit, said the investors, who will include 35 mayors from US cities, will jet into the country on November 25 for a 10-day visit.
“We want the Americans to witness and appreciate investment opportunities here and form joint ventures with Ugandans. They are well armed with expertise as well as finances that can turn this economy around,†Kamugisha, who is also Akright Projects managing director, said.
He said the team would have some of the leading American real estate players like officials from FMT Mortgage of America, Akridge Reality Inc. and Mortgage Bank.
Kamugisha said the players are interested in setting up a mortgage finance bank to extend mortgages to prospective Ugandan home-buyers at low-interest rates.
“Lack of mortgage finance has been the main bottleneck in the growth of Uganda’s housing sector. If someone can help us solve it, hundreds of Ugandans will be able to purchase homes every year, thus enabling us to break even and expand,†he said during an interview at his office on Impala House in Kampala.
The delegation will be led by Jack Ellis, the mayor of Macon, who recently visited the country and purchased property in Akright’s Kakungulu Housing Estate.
Kamugisha said the team would also have bankers, lawyers and manufacturers.
The team is expected to meet President Yoweri Museveni, officials from the Ministry of Finance, Uganda Investment Authority, Uganda Manufacturers Association, Uganda National Chamber of Commerce and Industry.
Other officials on the organising team include Felix Kayanja, one of Uganda’s biggest investors in the US, Stephen Kabuye, the Mayor of Entebbe and Hon. Maria Mutagamba, the Minister of Water and Environment.
UGANDA’s real estate and business fraternity are bracing themselves for American investors, who will tour the country in pursuit of investment opportunities.
Anatoli Kamugisha, one of the organisers of the visit, said the investors, who will include 35 mayors from US cities, will jet into the country on November 25 for a 10-day visit.
“We want the Americans to witness and appreciate investment opportunities here and form joint ventures with Ugandans. They are well armed with expertise as well as finances that can turn this economy around,†Kamugisha, who is also Akright Projects managing director, said.
He said the team would have some of the leading American real estate players like officials from FMT Mortgage of America, Akridge Reality Inc. and Mortgage Bank.
Kamugisha said the players are interested in setting up a mortgage finance bank to extend mortgages to prospective Ugandan home-buyers at low-interest rates.
“Lack of mortgage finance has been the main bottleneck in the growth of Uganda’s housing sector. If someone can help us solve it, hundreds of Ugandans will be able to purchase homes every year, thus enabling us to break even and expand,†he said during an interview at his office on Impala House in Kampala.
The delegation will be led by Jack Ellis, the mayor of Macon, who recently visited the country and purchased property in Akright’s Kakungulu Housing Estate.
Kamugisha said the team would also have bankers, lawyers and manufacturers.
The team is expected to meet President Yoweri Museveni, officials from the Ministry of Finance, Uganda Investment Authority, Uganda Manufacturers Association, Uganda National Chamber of Commerce and Industry.
Other officials on the organising team include Felix Kayanja, one of Uganda’s biggest investors in the US, Stephen Kabuye, the Mayor of Entebbe and Hon. Maria Mutagamba, the Minister of Water and Environment.