Kadaga meets US entrepreneurs over investment in Uganda

The Speaker of Parliament Rebecca Kadaga has implored American entrepreneurs to consider investing in Uganda for improved employment opportunities.

Speaking during a meeting with a group of investors from the United States, at parliament Kadaga boasted of the peace and security in the country, which she said is a good environment for foreigners to invest in Uganda.

"We welcome you to invest in Uganda, the environment is good and there are a number of investment opportunities which you can take advantage of," Kadaga said during a meeting with the investors at her chambers.

Kadaga is in November this year, expected to meet over 30 top American investors, during the East African summit dinner at the Trump Tower in Chicago US, where the Speaker and the investors will talk investments in Uganda. The summit is being organised by the East African Partners.

After the US, Uganda will in January next year host the summit, which will attract different investors from America, for investment opportunities in Uganda.

At parliament, the US investors shared with the speaker some of their planned investments in Uganda such as in the health and agricultural sectors.

Some of the investors included Greg Dennerlein, the director Venture DNA, John J. Joyce, the director sales at W.R Joyce Incorporated, Libby Andrews, the managing partner at the East African Partners in the US and Chris Paladino, the principal at the NCP Equity LLC.

The investors were coordinated and led by Isaac Kigozi, the managing director at East African Partners Ltd (Africa).

Chris Paladino, the principal at the NCP Equity LLC in the US, told Kadaga how he plans to set up a factory for distribution of malaria products in the country, which will act as the African distribution hub.

Libby, the managing partner East African Partners said she would concentrate on promoting Ugandan coffee and the Tooke products in the US.

"Uganda produces some of the best coffee there is a market out there for this coffee," Libby said. 

On his part, Kigozi, the leader of the delegation, commended the government for the peace and security which he said is the number one factor, the country is attracting top investors.

"With the presence of peace and security, our job is being made much easier; we can now attract investors from across the global. No one would want to invest in a country that is unstable security-wise," Kigozi said.

Before the meeting with their meeting with Kadaga, the investors shared their experiences during the power next 2019 investors meet up, organized by the East African Partners and the Kafeero foundation.

During the meeting, youth entrepreneurs were tipped on how best they can start and grow their business ventures.

"Just start by taking baby steps. It's a step at a time. When you get an idea, just test that idea, don't think about that huge idea and say I don't have resources, just start with the little you can," Libby said.

The investors also advised the young entrepreneurs to build teams which they can use to tap knowledge and resources to implement their investment ideas.

Greg Dennerlein, the director Venture DNA, said; "You have to be humble, have the right people, build a team, you cannot be alone".

Aziizi Kafeero, the founder of Kafeero Foundation said working with different partners, more youth have been inspired to start up income-generating activities, by exploring entrepreneurial opportunities. 

He said; "We push Africans in the diaspora to come and invest in the businesses in Africa".