Uganda: UDB Tips Wakiso Locals On Investment Opportunities to Spur Economic Growth

14 July 2023
Nile Post News (Kampala)

Uganda Development Bank (UDB) has tipped the community in Wakiso District on unlocking their immense investment potential through sustainable projects that will spur economic growth.

This was during a one-day conference held at Peniel Beach Hotel, in Entebbe under the theme, "harnessing investment opportunities in Wakiso" aimed at identifying solutions for Wakiso District and its constituencies, including Nansana, Kira, Makindye Ssabagabo, and Entebbe.

Patricia Ojangole the Managing Director of Uganda Development Bank said, "the 2023 Wakiso Investment Conference perfectly aligns with our vision of driving socio- economic growth in Uganda through sustainable financial interventions in the country's key priority sectors including agriculture, manufacturing, health, education, tourism and infrastructure."

"The platform has enabled us, and the different stakeholders involved to create meaningful connections,

exchange knowledge, and consumer information on the investment climate of Wakiso, as well as offer a premier

platform for an expert-informed-public discussion on Wakiso's development where practical solutions have been

offered on how best to adapt and re-orient our strategies in the current context to accelerate inclusive socio economic transformation."

The conference was among others aimed at identifying sustainable and impactful investment opportunities or projects aligned to the National Development Plan III and in key priority sectors of the district, highlighting the key challenges faced by the private sector in Wakiso as well as solutions and remedial actions and identifying a pipeline of bankable businesses in the various sectors.

The Wakiso District leadership noted that since the inception of the conference in 2018, there has

been a noticeable increase in the issuance of Investment licenses to projects, amounting to a tune of US$. 1.35 billion with an estimated 26,303 jobs created.

"We are constantly improving the business environment in Wakiso District so that we can boost economic activities in the areas, which in turn will provide investment opportunities and spur economic growth, among others," the Wakiso CAO, Alfred Malinga said.

"The private sector however still grapples with financial constraints and business advisory services that are important in enabling them to realize their full potential. Therefore, it is key th + at we collaborate with partners

like UDB so that we can support the growing business community to participate in impactful projects. It is through forums like this Investment Conference that there is knowledge exchange on how businesses can access funds and make the right investment decisions."

The UDB Managing Director said the bank is dedicated to fostering sustainable socio-economic growth, through supporting ventures like the Wakiso investment conference that seeks to unlock opportunities that compliment government effort through job creation and uplifting communities so that we complement government efforts of boosting the country's socio- economic growth.

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