Uganda has been voted best investment country at the Africa Energy Forum (AEF), an energy conference in Denmark, Copenhagen.
AEF is the global investment meeting for Africa’s power, energy, infrastructure and industrial sectors. The event attracted over 2000 participants from global energy players.
Uganda’s Minister for energy and Mineral Development, Irene Muloni, made a presentation that led to Uganda to be voted the best investment country, beating competitors; South Africa, Mozambique, Morocco, Sierra Leone and Zambia among others.
Ms Muloni’s presentation was based on the role of the energy sector in facilitating for enhanced growth of the economy and available opportunities for investment.
“Uganda is focused on becoming a middle class country by 2020, this can only be fast tracked by availability of reliable and enough energy to boost all sectors and stimulating growth of industries hence job creation. By end of 2018 Uganda would have doubled her energy quantities and increased access by the population,” she said.
She further informed that tools have been put in place for feed in tariffs and provision of predictable investment environment and also outlined the investment opportunities in oil and gas that include upstreams, midstream and crude oil export.
The Minister assured the participants, of double digit returns on their investment. She concluded by inviting serious investors to consider Uganda as the country is ready for business. She informed of the one stop centre at Uganda Investment authority that facilitates investors to get all the necessary documentation for business establishment in one place.
“We (Uganda) have a strong natural resources base, peace and stable, liberalised economy, good investment policies and laws, conducive investment climate, abundant renewable energy sources, Besides being a home of great wonders like source of river Nile, Equator crossing and mountain Gorillas, Uganda has the friendliest people in the world,” she said.