The State Minister of Finance for Investment and Privatization, Anite Evelyn has urged domestic investors in Uganda to access cheap financing from government financial institutions.
According to Anite, these institutions include; the Uganda Development Bank (UDB), Bank of Uganda’s Agricultural Credit Facility/Small Biz Recovery Fund, Private Sector Foundation Uganda’s INVITE, Ministry of Gender, Labour and Social Development’s GROW and Parish Development Model among others.
She made the remarks on May 14, 2024 during the launch of Uganda Investment Authority’s (UIA) Domestic Investment Division aimed at promoting an enabling environment for domestic investors (SMEs) and ensuring collaboration between investment and business support agencies.
Anite noted that it’s the duty of Ugandans to develop Uganda through industrialisation.
“It’s Ugandans who will develop Uganda, especially in industrialization, and it’s the role of UIA to support that process by creating an enabling environment,” Anite said.
She said that the Domestic Investment Division will contribute to Uganda’s $500b GDP target at the end of National Development Plan IV which can be achieved through domestic investment and Foreign Direct Investment (FDI).
Mukiza Robert, the Director General of UIA, urged domestic investors to make use of the UIA one stop centres because they can help them to concentrate on wealth creation by taking them through key investments and business services.
Rwakakamba Morrison, the Board Chairman of UIA said that the Domestic Investment Division will create a pool of profiled Domestic Investors in various sectors who can be matched with international investors, financiers and business support services.
The UIA Domestic Investment Division is a local investment division aimed at boosting domestic investment with the aim to serve domestic investors and ensure they graduate into successful investors capable of adding value to raw materials, creating jobs, and contributing to the economic development of Uganda.
