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US Investors to construct houses for industrial park workers

By Henry Sekanjako

Added 19th February 2020 09:02 PM

According to Anite, the investors have agreed to establish low-cost housing units around various industrial parks.

US Investors to construct houses for industrial park workers

Minister Evelyn Anite, chating with African American investors Michael Anthony Broughton and Mark Anthony Hernandez. (Courtesy Photo)

According to Anite, the investors have agreed to establish low-cost housing units around various industrial parks.

INVESTMENT    BUSINESS

KAMPALA - US African American investors are set to construct low-cost housing units in different parts of the country, hosting industrial parks.

In partnership with the East African Partners, the State Minister of finance in charge of investment and Privatization Evelyn Anite, last week ushered into the country a group of 12 African American investors who offered to invest up to $300m (about 1.1 trillion) into the country's health and real estate sectors.

According to Anite, the investors have agreed to establish low-cost housing units around various industrial parks.

"They are going to invest in low-cost houses, starting with Namanve Industrial park. These houses can be used by industrial park workers and investors in these industrial parks," Anite said.

According to the Uganda Bureau of Statistics, Uganda has a deficit of 2.1 million housing units, growing at a rate of 200 000 units a year. It is estimated that by 2030, the country's housing deficit is expected to reach three million units.

Anite who wooed the investors to Uganda noted that the investors who have been in the country for close to two weeks have also shown interest in investing in agriculture especially value addition on Ugandan produce like Maize.

  tate minister for investment nite walking down with the nvestors at peke partments in ampala ourtesy hoto State minister for investment Anite, walking down with the Investors at Speke Apartments in Kampala. (Courtesy Photo)

 
She noted that the group assured the government that they would contact fellow investors in the US, to come and invest in Uganda.

"They have the money and have been investing in other parts of the world. They come with skills and high technology which we are proud to tap into as Uganda," Anite said.

The minister said besides investing in Uganda, the US African American Investors will help promote Uganda in the US, for more possible investment opportunities, for Uganda.

According to the minister, Uganda has a number of virgin investment opportunities which investors can take advantage of, to invest in the country.

"I want to thank the African Americans for thinking of investing their hard-earned resources in Uganda and Africa at large. We shall give them the support required to facilitate their investment in Uganda," Anite assured.

She said it is Uganda's dream to industrialize and create jobs so as to absorb the unemployed Ugandans especially the youth.

Isaac Kigozi the managing director East African Partners said the team of African American investors that is in the country to acquaint itself with Uganda visited various parks such as Kapeeka industrial park.

"They have offered to get market for most of the produces at these factories, in the US," Kigozi said.

At Kapeeka, the investors were also according to Kigozi, impressed by the employment trend of Ugandans by the investors, where many Ugandans are employed compared to foreigners.

Ryan Zhu Yu, the general manager Uganda Liaoshen Industrial Park, implored Kigozi, to bring in more investors to invest in Uganda.

 

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