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BUSINESS

South African business delegation jets in to boost trade, investments

South African business delegation has visited to discuss how to boost trade and investments between Uganda and South Africa. (PHOTO/Courtesy)

KAMPALA – A high-powered South African business delegation will visit Uganda starting this Sunday, May 17, 2019.

On Friday, an advance team from the South African Department for Trade and Industry, led by the Director of Trade Invest Africa, Kwanda Modise, and Bongani Lukhele, from the Media Relations Unit, visited Uganda Investment Authority and had a one-on-one engagement with the acting Director-General, Lawrence Byensi. The discussion centered on how to boost trade and investments between Uganda and South Africa.

Byensi said there is a need for South African business people to take up the various investment opportunities in Uganda, in sectors like agriculture/agro-processing, tourism, information communication technology (ICT), mining and mineral processing, infrastructure development, manufacturing, real estate, and oil and gas.

The acting Director-General emphasized that Uganda’s business operating conditions have greatly improved, with Uganda Investment Authority, which operates as a One-Stop Centre for Investors, now providing primary investment services like licensing investments, business registration, access to power, construction permits, etc. very fast and efficiently.

The acting Director-General noted that from the mid-1990s to about 2008/09 South Africa was among Top 10 source countries for foreign direct investments in Uganda, which saw companies like MTN, Shoprite and Game set shop in the country.

He said from 2008/09 onwards South African investments in Uganda plummeted; stressing that there is a need for the trend to change because the investment climate is now even much better.

On her part, Kwanda Modise said the 28-person South African business delegation comprises business captains, policymakers and journalists, adding that their focus is specific investment projects.

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