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Hon. Musumba Leads Investment Delegation to Kenya

Hon. Isaac Musumba , Minister of State for Finance in Charge of Planning.

The Minister of State for Finance, Planning and Economic Development in Charge of Planning, Hon. Isaac Musumba led a delegation to Kenya May 19 – 22, 2002 to meet prospective investors. He was accompanied by the Executive Director of Uganda Investment Authority (UIA), Dr. Maggie Kigozi and the Director of the Privatisation Unit, Mr. Michael Opagi. The Delegation was joined by the High Commissioner, H.E. Francis K. Butagira. The visit was initiated and arranged by Uganda High Commission, Nairobi. While in Nairobi, the Minister met Mr. B.D. Shah, Executive Director of Bidco Oil Refineries. Bidco has been licensed to invest in a Palm Oil Project worth about US$ 60 million in Kalangala,

Uganda. The Minister also met the Chairman of the Fresh Produce Exporters’ Association of Kenya(FPEAK) Mr. Simon Ethang’atta andBoard Members. The Minister later toured a flower farm (Sian Roses) within Nairobi. He urged the proprietors to enter into joint ventures with interested Ugandan counterparts so that they benefit from their expertise in this sector.

In Mombasa, the Minister met the Managing Director of Neptune Group of Hotels, Mr. Merali Amin. The Neptune Group expressed interest in setting up a 5-star Hotel in Kampala and
requested UIA to avail 5 acres of land for this purpose.

Hon. Musumba also met the Executive Chairman of Grain Bulk Handlers Limited, Mr. Mohammed H. Jaffer whose Company intends to set up a similar venture in Jinja for
procurement of produce for the regional market. The delegation addressed other potential investors, on the investment opportunities available in Uganda.

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