UDB frustrating industrialisation agenda, say investors
Hakiim Wampamba
Investors have accused the Uganda Development Bank of frustrating the industrialisation agenda of the country.
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The investors said that UDB has not done enough to grant them access to cheap loans as had been envisaged.
They expressed their frustration to President Museveni during the commissioning of the East African Medical Vitals, a surgical and examination gloves factory in Africa. The factory, located in Namanve industrial park, cost $ 14.5 million to set up.
In response to their concerns, President Museveni said UDB must do more to help investors.
"We put some money into that bank , it must do it’s job," Museveni said.
The factory intends to produce 95 million masks per annum which is enough to feed Africa which has previously imported 100% of her surgical gloves needs.
Evelyn Anite, the minister of state for Investment, said the local production of medical supplies signals increased health standards.
