Britania to double investments
BRITANIA Allied Industries plans to double its investment from $30m to over $60m over the next five years. The Ntinda Industrial Area-based agro-processing firm was crowned the winner of the medium scale category in the just-concluded Uganda Investment Authority’s Investor of the Year Awards.<br>
By Ben Mugisha
and Chris Omony
BRITANIA Allied Industries plans to double its investment from $30m to over $60m over the next five years. The Ntinda Industrial Area-based agro-processing firm was crowned the winner of the medium scale category in the just-concluded Uganda Investment Authority’s Investor of the Year Awards.
Hasmuk Dawda, the founder and chairman, told reporters over the weekend that the move would help them penetrate the European and African markets.
“We are ready to double our investment and also double or triple our exports and increase the foreign currency inflows into the country, provided the Government drafts a special policy on agro-processors like power cuts as is the case in Egypt and India,†Dawda said.
Dawda explained that the multi-million modern machinery installed recently would boost their dream of exploiting the world market and compete favourably.
The firm bought more than 200 tonnes of fruits at more than sh1.8b in 2007 alone, Dawa disclosed.
The fruits were used in the making of various packaged juices.
Dawda said the demand for mango juice was overwhelming globally.
He said plans were underway to start the exploitation of mango pulp soon, “so as to check the monopoly of India and Egypt.â€
“True, the Government has created conducive atmosphere for investment but high power and transport costs have made us unable to penetrate the world market in the agro-processed sector,†Dawda argued.
Britania recently won a food and drug consumption certificate of the US.
The certificate allows the firm to export fruit products to the US market.
However, the firm cannot compete with Egypt, which sells products cheaply due to cheap power costs. Britania is a subsidiary of House of Dawda Group of Companies, one of the largest in the region.
The group operations cover marketing, manufacturing and trading of consumer products and pharmaceuticals.
The group employs over 1,700 people directly and over 20,000 indirectly.
The group exports its products to mainly Rwanda, the Democratic Republic of Congo, Burundi, Tanzania and Kenya among others.
and Chris Omony
BRITANIA Allied Industries plans to double its investment from $30m to over $60m over the next five years. The Ntinda Industrial Area-based agro-processing firm was crowned the winner of the medium scale category in the just-concluded Uganda Investment Authority’s Investor of the Year Awards.
Hasmuk Dawda, the founder and chairman, told reporters over the weekend that the move would help them penetrate the European and African markets.
“We are ready to double our investment and also double or triple our exports and increase the foreign currency inflows into the country, provided the Government drafts a special policy on agro-processors like power cuts as is the case in Egypt and India,†Dawda said.
Dawda explained that the multi-million modern machinery installed recently would boost their dream of exploiting the world market and compete favourably.
The firm bought more than 200 tonnes of fruits at more than sh1.8b in 2007 alone, Dawa disclosed.
The fruits were used in the making of various packaged juices.
Dawda said the demand for mango juice was overwhelming globally.
He said plans were underway to start the exploitation of mango pulp soon, “so as to check the monopoly of India and Egypt.â€
“True, the Government has created conducive atmosphere for investment but high power and transport costs have made us unable to penetrate the world market in the agro-processed sector,†Dawda argued.
Britania recently won a food and drug consumption certificate of the US.
The certificate allows the firm to export fruit products to the US market.
However, the firm cannot compete with Egypt, which sells products cheaply due to cheap power costs. Britania is a subsidiary of House of Dawda Group of Companies, one of the largest in the region.
The group operations cover marketing, manufacturing and trading of consumer products and pharmaceuticals.
The group employs over 1,700 people directly and over 20,000 indirectly.
The group exports its products to mainly Rwanda, the Democratic Republic of Congo, Burundi, Tanzania and Kenya among others.