Ugandan President Gets UK Pledge on Beef, $19.6m Funding

UGANDA - President Yoweri Museveni got an assurance on Uganda's beef exports to Britain and a commitment of £15 million ($19.6 million) funding at the UK-Africa Investment Summit.
calendar icon 27 January 2020
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The funding pledge is part of a £320 million ($419 million) UK Aid package for the 21 countries invited to the Summit.

It was announced by UK Secretary of State Alok Sharma. It is not clear what other deals the Ugandan government signed in London.

The funding is intended to initiate a new phase of financial sector development (FSD) across the continent to boost the existing financial sector programmes, set up and scale up new FSDs in high priority markets, including Ethiopia, Ghana, Sierra Leone and the West African Monetary Union.

Uganda's State House said that President Museveni held a bilateral meeting with UK Prime Minister Boris Johnson on the sidelines of the Summit.

President Museveni asked PM Johnson to encourage more British firms to invest in Uganda, saying that the East African country had immense investment opportunities in the areas of beef, dairy and crop production.

"I told President Museveni that his beef cattle will have an honoured place on the tables of Britain," PM Johnson is quoted as having said.

But, President Museveni was also seeking trade and investments in other areas, including manufacturing, tourism, services and ICT, arguing that the supporting infrastructure, like electricity, good roads, skilled, affordable labour and friendly tariffs were in place.

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Source: AllAfrica

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