A team of African- Americans are set to invest US$300million (about Shs1.1 trillion) in Uganda with focus on health and real estate sectors.
Mark Anthony Hernandez led the delegation that was received at Entebbe International Airport on Friday by Abbey Kigozi, NRM Chairman –Diaspora league.
Speaking to journalists, Hernandez said that the team plans to invest in Uganda was informed by the prevailing conducive environment where peace and security is guaranteed.
“What we are focusing on in this particular trip is healthcare; we have a Neurosurgeon investor on our team who is interested in setting up a factory for Cardiac transplants in Uganda and offering services in other ways,” Hernandez said.
In real estate sector, he said the focus will be on commercial and residential estates and after further scrutiny of the business environment, the team will look at expanding to other sectors and rally more Americans to join them.
“At this time we are looking at investing US$300m in the health and real estate sectors and we believe other African- Americans in California will be interested in our joining us because of their interest in bringing back African American dollars back to Africa,” Hernandez added.
Isaac Kigozi, Managing Director, East African Partners, said that unlike the people from developed nations that look at Africa as a continent with impoverished masses and therefore come seeking to save them from poverty, diseases and illiteracy, the African-American investors group is not looking at offering charity to Africa, but rather talk into the human capital development to enable Ugandans become self sustainable.
“When we discussed with this group, they said government has done enough opening up doors to them and are now looking at what they can do for the government and the people of Uganda. This is exactly what enticed me to bring them to Uganda because they are not looking for free things,” Kigozi said.
He called on Government agencies and Ugandans at large to offer support to the team, noting that the planned investments will be critical at addressing the employment ravaging the country and propel Uganda to middle income status as well as attaining Vision 2040.
Kigozi assured the investors of peace and security and informed them that Uganda is signatory to a number of international treaties like East African Community Market, COMESA which will further widen market for their investment products.
The team is set to meet President Yoweri Museveni.
“The President is aware that you are here and is ready to meet you anytime. As Diaspora League, it’s our mandate to always encourage our friends in the outside world to come and invest in our country. It’s good to have a mixture of not just investment but marketing, real estate, tourism on the delegation,” Kigozi said.
