UK announces $280m airport deal with Uganda, praises Uganda as ‘fantastic market’
United Kingdom has announced signing a deal with the Uganda worth $287m (Shs1trillion) geared towards building of the country’s second international airport to service the oil industry.
This was confirmed by UK prime minister’s trade envoy to Uganda and Rwanda, Lord Popat during the Uganda- UK business forum on Tuesday at the Council House, Birmingham City Council, UK.
The forum was organised by the High Commission of the Republic of Uganda in London in conjunction with Uganda's Honorary Consul to Leicester and the Midlands.
Popat called upon delegates that included high profile businessmen and women to look at Africa as a game changer for investment. He said Uganda in particular is a fantastic market that is very ripe for investment.
“If you want to raise your export game, open your eyes and see Africa for what it is, not what you fear it is. Uganda is a fantastic market; I call on you to put together the best possible proposals to win contracts,” he said.
“Uganda is investing in major infrastructure projects, we (UK) have some of the best in construction, design and engineering so let’s get them to Uganda. I visited Kampala, Uganda last year with an Oil & Gas delegation from the UK. Two of those companies have been shortlisted to a build pipeline in the region of $2b."
Popat also announced the signing of a £215m (Shs 1trillion) deal in Uganda, supported by the largest ever loan to any African government by UK Export Finance (UKEF), to build a second international airport in Uganda. He added that Her Majesty's UK Government stands ready to assist any UK business that is ready to do business with Uganda.
Lord Popat (second left), The Lord Mayor of Birmingham, Councillor Yvonne Mosquito, Hon. Jaffer Kapasi OBE and the Forum's coordinator Daniel Nsaba Buturo (extreme right).
On his part, Uganda’s High Commissioner to the UK and Ireland, His Excellency Julius Moto, highlighted the immense trade, investment and partnership opportunities that Uganda has to offer citing the supply chain opportunities for Midlands businesses in the petroleum, infrastructure and energy sectors..
The Ministry of Works and transport last year said they had already started talks with UK Export Finance, the UK government’s export credit agency, and Standard Chartered Bank for a loan of 325m euros ($365m).
According to the ministry, the money was going towards the second international airport in Kabale district by June 2019. The airport would transport equipment and goods for the oil industry
The Uganda - UK Business Forum 2018 was also graced by The Lord Mayor of Birmingham, Councillor Yvonne Mosquito, who endorsed the Business Forum, welcomed and invited all delegates to visit and do business with Birmingham.
Hon. Jaffer Kapasi OBE - Uganda Consul General to the Midlands UK was born in Uganda, in a small village in Masindi, Bunyoro district said; "My role is to ensure that all Ugandans and the British go and invest and trade with Uganda. The time is right, after Brexit, Britain is looking for more opportunities, East Africa is the name of the game, particularly Uganda."
Mr. Keith Smith-Stokes, President Greater Birmingham Commonwealth Chambers of Commerce stated that Brexit puts Uganda and the Commonwealth back on the map as trade with Commonwealth countries for UK businesses costs less mainly because of common law structures.
Other notable speakers included; Mr. Nevin Bradford - CEO, CIPLA Quality Chemicals Industries Ltd, Uganda (CIPLAQCIL), Mrs Gisa Fuatai Purcell - Director ICT, Commonwealth Telecommunications Organisation, UK, Mr Taha Coburn-Kutay - Chairman, UK Asian Business Council (UKABC), Mrs Juliet Namiiro, Head of Consular Department - Uganda High Commission, UK&IR, Alfred Balinda, First Secretary - Uganda High Commission, UK&IR and Mr Joseph Nwosu - Amref UK.
