There was pomp, glitz and glamour at Flag Mast, Speke Resort Munyonyo as Ruthvik, the son to Dott Services Ltd Director, Mr. Prasad Reddy, got engaged to his Italian girlfriend Ms Silvia last evening.
Speaking at the event, Mr. Prasad Reddy flanked by Maheswara Reddy and Venugopal Rao, applauded his son for bringing a new member and a wife into their home. “Thank you for making us proud and turning into an adulthood by choosing a wife to start a family,” Prasad said.
Silvia and Ruthvik got engaged last at a colorful ceremony held at Speke Resort Munyonyo
He went to appreciate the good relationship Dott Services has created with the government. He added that Dott Services is ready to continue executing excellent work in the field of construction and engineering within and outside the country.
The guest of honour Rt. Hon. Anita Annet Among (AAA) the Speaker of Parliament congratulated the couple and wished them endless happy years together. She also expressed her gratitude to Prasad and the Dott family for their commitment to friendship and for the vital role they play in the economy and development of the country.
“We had a wonderful time celebrating the engagement of Ruthvik and Silvia with our brother Prasad Reddy, Sabitha, and the larger Dott family. I want to congratulate the young couple and wish them many happy years together. I also want to express my gratitude to Prasad and the Dott family for their commitment to friendship and for the vital role they play in our economy and development,” Rt Hon. Anita Annet Among said.
The function was also graced by Deputy Speaker of Parliament Rt. Hon. Thomas Tayebwa who wished the couple all the best in their new journey of starting a family. Also in attendance was Minister of Works and Transport Gen. Katumba Wamala, State Minister for Investment Hon. Evelyn Anite, State Minister for Energy and Minerals Hon. Phiona Nyamutoro and hubby Eddy Kenzo, veteran journalist Andrew Mwenda and many other dignitaries.
The couple is set to officially get married later this year to seal their romance which started at the University.
The State Minister for Investment Hon. Evelyn Anite has advised those that have issues with her to present them to her face to face rather than calling themselves whistleblowers.
The Minister said she is ready to face it off with anyone who has any grievance against her and what she does (work).
She appreciated her friends for complementing her work saying she is ready to continue the battle.
Hon. Evelyn Anite
“Hello my friends & enemies. I hope you are all doing well. My friends thank you all for the compliments and support, I love you. To my enemies, if you’ve got something to say,say it to my face, don’t call yourself a whistleblower, come, let’s face off,” Hon. Anite shared on her X handle.
Abu Dhabi / Kampala: Uganda has been awarded as the best investment destination for attracting some of the most significant foreign direct investment (FDI) projects in Africa in the year 2023.
The prestigious award, the AIM Investment Award 2024, was presented to the State Minister of Finance (Investment and Planning) at a gala dinner at the Abu Dhabi National Exhibition Centre (ADNEC) as part of the 13th edition of the Annual Investment Meeting (AIM) ongoing (May 7 – 8) in Abu Dhabi, the capital of the United Arab Emirates (UAE).
UIA’s Morrison Rwakakamba
The AIM Congress 2024 is being held under the theme “Adapting to a shifting investment landscape: Harnessing new potential for global economic development”.
The Uganda Investment Authority, in line with the theme, submitted three green investment projects following the successful Conference of Parties (COP) 28 last year in Dubai, UAE, which attracted over $400 million worth of FDI to Uganda.
The winning projects include Spouts of Water, the largest manufacturer of ceramic water filters in Africa, producing a convenient and affordable solution using locally sourced materials. Currently, its products reach over 200,000 households and aims to reach six million households by 2030. The current investment value is $10 million with extra $80 to $100 million planned in the next four years. The project employs 450 Ugandans.
The second project is 1MTN, a high-quality nature-based carbon removal project developer in Africa. It is on a mission to restore one million hectares of degraded land by 2030 through planting polyculture native bamboo with an emphasis on biodiversity management. Its current investment is $1.5 million and planned investment of $100M in the next four years.
The third entry is Nexus Green, a solar energy company which manufactures and supplies affordable solar-powered solutions designed for over 458 million people in the East African Region without access to reliable energy. It has invested, together with the United Kingdom Export (UKEF), over $100 million, with $10 million in the factory alone. It employs 200 Ugandans directly and over 1,000 indirectly.
The highly competitive award recognizes the accomplishments of a country in attracting the most significant investment projects which contribute to the economic growth and development of their markets.
Acknowledging the award, the Minister of State for Finance (Privatization and Investment), Hon. Evelyn Anite, said “the award is a strong recognition of efforts by the Government of Uganda and the Uganda Investment Authority in creating a conducive environment for investments and doing business in Uganda, including in the green economy”.
The Chairman of Board of Uganda investment Authority, Mr. Morrison Rwakakamba, said: “Sprouts of Water, 1MTN and Nexus Green are strategic green investments that demonstrate the commitment of Uganda to mitigating the adverse effects of climate change and other world’s environmental challenges”.
The Director General of Uganda Investment Authority, Mr. Robert Mukiza, said the award is not only an affirmation of Uganda as the best investment destination in Africa but also the strong and effective efforts the authority is making in attracting quality, relevant and sustainable investments to Uganda.
This is the second time Uganda is receiving an accolade from AIM. In 2023, it won the award for the best investment destination in East Africa for attracting the best investment project, Modern Tiles. At the same event, the Uganda Investment Authority won the gold award for the best investment promotion agency in East Africa.
In the financial years 2021/22 and 2022/23, UIA licensed a total of 1,202 investment projects, with planned investment value of $16.516 billion and 142,524 planned jobs.
AIM is an emerging markets FDI-focused event that offers a blend of features and activities aimed at enriching participants with a comprehensive view of the investment environment in high growth regions.
Established as the new staple for FDI, AIM attracts a mix of high-profile government officials, private asset owners and project promoters from all across the globe.
AgriConnect is the first digital solution which can offer both a savings and lending option for small-holder Farmers in Uganda
Yumbe: Uganda Development Bank (UDB), the country’s national Development Finance Institution, in partnership with Ensibuuko, European Union, United Nations Capital Development Fund (UNCDF), and Food and Agriculture Organization (FAO) has launched a Fintech solution dubbed AgriConnect to ease access to digital financing for smallholder farmers in Uganda.
The innovation, the first digital solution which can offer both a savings and lending option for small-holder famrers in Uganda, will provide a platform for Village Saving and Loans Associations (VSLAs) to digitally access short-term seasonal loans and saving products at affordable rates to grow their businesses.
Hon.Evelyn Anite,(4th L), State Minister of Finance for Investment and Privatization, Patricia Ojangole (3rd L), the Managing Director of Uganda Development Bank, Gerald Otim (3rd R), CEO at Ensibuuko, Richard Ndahiro (L) UNCDF Technical Advisor with other partners and Yumbe local leaders at the launch of a Fintech solution dubbed AgriConnect to ease access to digital financing for smallholder farmers in Uganda
The entire lending process – application, approval, and disbursement – will be done digitally with the funds credited directly to the farmer’s e-mobile wallet.
Speaking at the launch, Patricia Ojangole the Managing Director of Uganda Development Bank said; “Together with our partners, we have unveiled an innovative Fintech solution aimed at disseminating credit to the mass lower underserved markets consequently driving financial and digital inclusion.”
She added, “The world is fast evolving resultant of advancements in technology, and it is key that as a development finance partner, we recognize such changes and make deliberate effort to back inventions that influence the growth of key sectors of the economy like Agriculture, which employs 68% of the country’s population.”
The pilot project targets to reach at least 1,000 smallholder farmers. The farmers will have access to digital loans to enable them to increase production, intensify food security, and boost household incomes of the farming communities across Uganda. Learnings from the pilot will enable the implementers to scale the solution to impact more farmers with a target of 18,000 at full cycle.
“The event is special in two ways: It is the launch of Uganda’s first ever digital agricultural loan for savings groups, it is also the first-ever launch of a strategic partnership between the Uganda Development Bank and a Ugandan fintech. Such purposeful collaborations are important for financial inclusion, and will go a long way in validating the maturity of Uganda’s fintech landscape,” said Gerald Otim, CEO at Ensibuuko.
Uganda’s scope of financial services encompassed by Fintech has steadily been increasing and this has been necessitated by network readiness, digital literacy, and mobile phone penetration. According to World Bank, Uganda ranks 172nd on Gross National Income (GNI) and 116th on the Network Readiness Index (NRI), respectively. The country’s Mobile penetration is at 49% and smartphone adoption is at 16%; all of which account for the contribution of the digital economy which contributes 7% to the economy.
“Over the last few decades, digitalization has transformed the way of life world-over, causing varied social and economic changes. Likewise, in Uganda, digitalization continues to take root in shaping various sectors, and specifically the financial services. AgriConnect will reinvigorate and reshape our country Uganda. This indeed is a timely product for Uganda,” said State Minister of Finance for Investment and Privatization.
“With services like this, Uganda is indeed on a good trajectory to achieve its goals as stipulated in the National Development Plan and Vision 2040.”
Hon. Anite lauded UDB, FAO, UNCDF, EU and Ensibuuko for the critical role in the socio-economic transformation of Uganda and pledged the government’s continued support towards this agenda.
UNCDF reaffirmed its commitment towards boosting financial inclusion in Uganda.
“UNCDF has been involved in advancing access to finance through digital financial services in Uganda for the last seven years. We have seen solutions like digital payments and savings accounts grow significantly in various agri-value chains. The promise of digitalization unlocking financing for farmers still falls behind – yet it holds the greatest value proposition for them,” UNCDF Technical Advisor – Inclusive Digital Economy, Richard Ndahiro said.
“According to the Findex 2021, digital financial services have enabled more Ugandans to access formal financial services. 66% of Ugandan adults are estimated to have access to an account. However, while 77% of Ugandans borrow money – only 31% borrow from a formal financial institution. Smallholder farmers are top on the list of those excluded from access to formal borrowing. The solution launched today leverages digital innovation to enable access to finance for farmers. This project is one of the ways UNCDF is working with partners and financial services providers to drive digital financial inclusion beyond payments.”
According to FAO, AgriConnect will enhance the agriculture sector and improve farmer livelihoods in Uganda; “FAO believes that Public funding alone is not enough to tackle the world’s most pressing sustainable development challenges – from ending poverty and hunger by 2030 to reducing inequalities. Private investments that generate social or environmental benefits alongside returns can help fill that investment gaps. The pilot solution we are launching today is hoped to boost sustainable private investments in the agrifood sector and improve farmers’ access to digital credit,” said FAO’s Country Representative in Uganda, Dr Antonio Querido.
The European Union expressed delight for the partnership mentioning that it will set the tone for further deeper and sustainable collaboration in the future, benefitting underserved populations.
In conclusion, MS. Ojangole urged the smallholder farmers in Yumbe District and the neighboring areas to embrace this service which will boost their output and participation in agribusiness and called for more meaningful partnerships.
“I would like to specifically thank our partners Ensibuuko, EU, FAO, and UNCDF for joining us on this journey that aims to transform communities through financial empowerment, which will in the long run boost the performance of Uganda’s agricultural sector,” Ms Ojangole concluded.
The State Minister for Investment and Privatization, Hon. Evelyn Anite said Acholi region has started wealth creation mobilisation meetings ahead of the visit by President Yoweri Kaguta Museveni.
The president will start country wide Presidential Tour with Acholi region on 23rd and 24th of this month. The tour is focused on securing your future through wealth creation.
“We have started the wealth creation mobilisation meetings in Acholi a head of the big do with President Yoweri Kaguta Museveni on 23rd & 24th of February 2023. Top on the agenda will be showcasing production & productivity per District,” Hon. Anite tweeted.
Koboko Municipality MP Hon. Evelyn Anite Kajik has spoken out on the alleged procession rally in Koboko District yesterday.
Posting on her social media, Hon. Anite who also doubles as the State Minister of Finance for Investment and Privatization said the procession was not a campaign rally and that she didn’t organise it and was not even in attendance. Her team wasn’t even part of the event.
Hon. Evelyn Anite with an elderly woman in the past
Below is her full statement on the matter;
“The procession that has been widely viewed on social media was not a campaign rally. I did not organize it and neither did my Team. I was not even there! The spontaneous procession formed on the occasion of the delivery of the Ambulances for Koboko Municipality. The community is in great need of these ambulances as the nearest referral hospital is in Arua. We promised to deliver the ambulances before COVID19, but the pandemic has made them even more urgent to respond to emergencies during this period. As leaders in Koboko, we continue to raise awareness for our people to social distance, wear masks, wash hands and follow other guidelines provided by Ministry of Health. Health of our people is number one priority for me. I will do more to sensitize the people about this and warn them against such dangerous practices,” Hon. Evelyn Anite posted.
The Minister of State for Finance in charge of Investment Hon. Evelyn Anite has heaped praises on Fine Spinners Uganda for doing great work.
The minister visited the Factory premises in Bugolobi and was happy to note their involvement in manufacturing personal protective equipment to be used in this era of COVID-19.
“Earlier today, I visited Fine spinners Uganda Ltd at their factory premises in Bugolobi.
In addition to processing the cotton locally & value adding the local economy, the company gets all its premium quality Cotton from Ugandan out growers thereby maximizing their profits.
Fine spinners which employs over 1500 people has 100% Ugandan made garments on the local market & also exports clothes to some of the world’s leading retailers & brands.
In an effort to help fight against the #COVID__19 pandemic, the company also started manufacturing Personal protective equipment(PPE),” Hon. Evelyn Anite said after visiting the factory premises.
The Minister of State for Finance in charge of Investment Hon. Evelyn Anite has confirmed that hand sanitizers, mask and other personal protective equipment made locally here are ready for use.
The minister confirmed this through her social media platforms. Below is her full statement;
“Glad to report that following our meeting with local manufacturers to start making hand sanitizers, masks and other Personal protective equipment in the fight against #COVID19, the first products for hospital and home use are ready.
As H.E Yoweri Kaguta Museveni directed, our response to #COVID19 will be strong and local.
These self-reliant industries making affordable life-saving detergents show how much we can achieve when we work together.
I encourage other local manufacturers to come forward and respond to production of essential products for the #COVID19 fight but also to compensate for products we can no longer import.
I thank UNBS for fast tracking certification and protecting consumers from buying sanitizers that do not comply with standards.
I also congratulate the 15 companies commencing production.
Special thanks to the private sector leaders who have made this possible,” Hon. Anite Evelyn posted.
The Minister of State for Finance in charge of Investment Hon. Evelyn Anite has said Uganda-Egypt Invest and Trade week provides an opportunity to Ugandan entrepreneurs to exchange ideas with Egyptian manufacturers and get to learn about new production methods.
She will said while visiting the stalls at UMA Lugogo today morning.
“This morning i attended and visited different stalls at the Egypt-Uganda Invest and Trade Week fair at UMA show grounds.
The fair is aimed at promoting trade relationships between the two countries and has attracted manufacturers from sectors of Petrochemical, Plastics, Construction. The fair provides an opportunity to Ugandan entrepreneurs to exchange ideas with Egyptian manufacturers and get to learn about new production methods.
The manufacturers will also use the trade week to study the Ugandan business environment and the available investment opportunities,” Hon. Anite said.
The Minister of State for Finance in charge of Investments Hon. Anite Evelyn has revealed that African American want to invest $300m in Uganda.
She revealed this while receiving a delegation of African American investors led by Mark Anthony Hernandez into the country. They told the minister that they want to invest the money in Health and Real Estate sectors.
The investors chose Uganda because of her stability coupled with her entrepreneurship nature.
“I received a delegation of African American Investors led by Mark Anthony Hernandez.
The investors have offered to invest up to $300m in the health and real estate sectors in Uganda and say that the reason they chose to invest in Uganda was because of its peace and security, coupled with the entrepreneurship nature of Ugandans,” Hon. Anite said.
Hon. Evelyn Anite has been praised for doubling efforts which have seen her lure a number of investors into the country.
