Kampala — INDIAN investments in Uganda have reached sh170b in the last five years, a top Uganda Investment Authority (UIA) official said this week.

"They (Indians) have invested in 115 projects, including large, medium and small scale enterprises through new investments and join-ventures since 2000," John Musajjakawa, the UIA's investment promotion division officer, said.

He said Indian investors had turned to investing in Africa and were funding Africans through joint- ventures.

"In 2005, the Confederation of Indian Industry, the government of India and the Export Import Bank of India, organised a mini-conclave on India/Africa project partnership to forge ties with the Indian investors," Musajjakawa said in an interview in Kampala on Wednesday.

He said the 35 African countries that participated in the mini-conclave, had submitted in 281 projects worth over $11b.

He said projects worth over $300m were at various stages of execution.

The African countries benefiting from the conclave are Djibouti, Somalia, Sudan, Kenya, Tanzania, Uganda and Rwanda.

The beneficiaries are also organising a similar conclave from April 27-30 in Addis Ababa, Ethiopia.

Musajjakawa said the local beneficiaries of the project should have projects in agriculture, agro-processing, minerals, transport, power and non-conventional energy.

Others are healthcare and pharmaceuticals.