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Tue. Jul 23rd, 2024

By Godfrey Olukya 18-12-2016 

 

 

The President of the Arab Republic of Egypt Abdel Fattah al-Sisi has today visited Uganda on a one-day official visit at the invitation of President Yoweri Museveni.

President Abdel Fattah El-SiSi has been accompanied by a trade delegation from Egypt.

According to President Museveni’s deputy press secretary,Lindah Nabusayi he held talks with President Yoweri Museveni and his delegation.

She said in a statement ” Uganda and Egypt are aiming to boost their trade relations in various sectors.”

Recently, President Museveni commissioned the Egypt-Uganda Food Security Company, a new private beef processing company.

Egyptian investments in Uganda include Cairo International Bank, Egypt Air, Mantrac Uganda ltd, Arab Contractors, El Naser Export and Import Company and African Development Incorporation Uganda Limited.

The scope of work for Arab contractors is increasing rapidly in Uganda, with a total work value for the current moment of 25$ U.S.

Other prominent private sector companies started investing in Uganda and east Africa including the “Citadel Group” the leading investor in Africa, investing in the RVR $150million to modernise the main railway from Mombasa to Kampala to reduce substantially, the cost of transport and hence cost of production leading to more trade and increase the attractiveness Uganda to foreign investment.

 

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