Uganda’s President, Yoweri Museveni, has hosted a delegation led by Fouad Alghanim to urge the Kuwaiti group CEO to consider investments in processing facilities for the countries agro-produce, hydro-electric power generation dam projects and critical rail infrastructure.
President Museveni received Fouad Alghanim and his company representative at State House, Entebbe, following the group’s announcement to launch Africa operations in Uganda, to discuss a number of opportunities focused on downstream value addition in the country.
Museveni highlighted the abundant resources in the country, particularly in the agricultural sector, citing bananas, which Uganda leads global production with an output of 10 million tonnes per annum, as one key area where additional processing capacity is required.
He then noted that Uganda is also looking to expand its coffee production from four million bags per annum to 11 million bags per year, on top of its 60 million kg of tea production, and also called on the investors to look at engaging with cereals such as maize, fruits and cassava.
Fouad Alghanim responded that his company was keen to engage in agro-processing with the major objective of feeding the Kuwait market, and that the delegation was impressed with the high quality of the Uganda produce that they sampled.
The President also urged the Kuwaiti group to invest in hydro-generation dams and power stations in areas such as Murchison Falls and Kibe, and to consider the prototype electric cars developed by Ugandan scientists as another potential investment opportunity.
He added that the government also required partners to work with it in acquiring the necessary funds for the construction of railway lines to South Sudan, DR Congo and Rwanda, and to tap the some 300 million tonnes of high-quality iron ore available for mining.
The group’s delegates confirmed their interest in hydro-electric power production, and revealed their additional interests in thermal power, construction, the promotion of shipping and communications, and the exploration and production of oil.
The President then returned to Kyankwanzi and discussed the Uganda National Chamber of Commerce on the foremost priorities and most effective manner of implementation.
The Fouad Alghanim & Sons Group is one of the largest group of companies in Kuwait, with investments across energy, construction, communications, shipping and agro-processing.