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Discussing Uganda’s Attractive Investment Opportunities with the Uganda High Commissioner to Canada
Ambassador Joy Ruth Acheng answered many questions from the audience following her presentation Vazir Karsan
Over 65 investors attended an event at the Ismaili Centre, Toronto, to gain insight into Uganda as a potential investment opportunity. The evening commenced with opening remarks from Ismaili Council for Ontario President, Sheherzade Hirji, welcoming the Uganda High Commissioner to Canada, Ambassador Joy Ruth Acheng, her Deputy Head of Mission, and attendees. Following this, the audience enjoyed a presentation by Her Excellency that discussed Uganda’s growing economy in multiple sectors.
In particular, the spotlight was on the agricultural and agribusiness sector, as Her Excellency noted that this sector currently employs 69% of the Ugandan population, and contributed 26% to GDP in 2015 / 2016. Furthermore, Her Excellency discussed opportunities in other sectors, including infrastructure, mining & minerals, tourism, information & technology, health care, and energy.
Following her presentation, Her Excellency answered audience questions during a lively question and answer session moderated by Economic Planning Board for Ontario Honorary Secretary Farhad Shariff. During this segment, Her Excellency answered questions related to the investment process and government incentives for investors. In particular, Her Excellency outlined how Uganda’s judiciary system favors international business as there is a law that protects investors’ resources and capital to ensure security.
In addition, Her Excellency indicated that new projects may take the form of either a Public Private Partnership or a joint venture, so investors can benefit from the experience of Ugandans (who have a familiarity with the local and regional business environments). Moreover, Her Excellency indicated multiple times how investors can capitalize on Uganda’s high youth unemployment as a way to leverage cheap, though skilled labour.
After the question and answer period, Economic Planning Board for Canada Chairman Zahir Kassam thanked Her Excellency for her time, and, during his closing remarks, reinforced Uganda’s economic characteristics that make it a viable investment opportunity for the audience, noting the country’s impressive record of positive real GDP growth over the past decade.
Upon conclusion of the formal program, Her Excellency continued to network with Institutional leaders and investors over light refreshments.
