Captain. Mike Mukula Mediates Signing of Two Economic MOU's Btn United Arab Emirates and Bbaale Sugar Works in Uganda
The Kingdom of the United Arab Emirates has expressed interest in investing in Uganda by entering into memorandum of understanding with Bbaale Sugar Works Limited located in Kayunga district, Bugerere, in Buganda region.
Mukula group of companies has mediated the signing of the agreements between the two in kampala on Thursday, where His Royal Highness Sheikh Ahmed Al-Qassim of UAE has been represented by his senior advisor , Hon. Dr. Marcin Lapa, while John Magney the chairman of Bbaale Sugar Works has represented Bbaale Sugar Works Limited.
Capt. Mike Mukula indicated that the agreement reinforces four or five core components of the investments. Baale Sugar Works in Bugerere, Buganda region has about close to 5 square miles of sugar plantation that is already planted and is also part of the vast sugar planters association which is quite big of kayunga, Bugerere and the surrounding areas.
He therefore mentioned, the overall frame work of signing the agreement today is to build a plant which will be the first indigenous in the country, that also covers white and brown sugar to a certain extent. The achievement shall be the product which is needed as industrial sugar that adds on that of Kinyara sugar works that is already producing, and to supply the region that is in need of the product.
Capt. Mukula explained that the Industrial sugar is used for the beverage sector like the crown bottlers for example coca cola, riham industries and many others including the brewery.
In the entire region, countries like Kenya do not have white sugar, in addition to Tanzania, Rwanda, Burundi , DRC congo, including South Sudan and Ethiopian. “So this will tremendously add value to the excess sugar we have in the country,” he said.
Apart from exporting, Uganda shall also develop the capacity to generate electricity that will move to level of up to about 12 megawatts , 3 megawatts used for internal consumption or production while the remaining 9 megawatts will be sold to the national grid. “Therefore, we intend to work together with the Ministry of Energy and Mineral Resources to implement the power purchase agreement.” He included.
Once that is put together, there shall be an addition solar planting for solar farming, an addition of 21 megawatts initially with intent to expand further to generate or supply government of Uganda with 30 megawatts but growing and possibly upto 200 megawatts.
The power mix strategy is one that we have adopted more towards green energy which will tremendously help the country achieve it's industrialization objective and also hit the 2040 target of economic planning as and growth.
The partnership is as a result of both stable environment, macro and physical policies of the country, the political and economic environment as well. Once operationalized, atleast a minimum of 3000 jobs shall placed by Baale Sugar Works, the ministry for works and transport is also consideration to build a tarmac and concluding the agreement to have it built.
The other agreement is to trigger the trade interms of exports, the value chaining and to see that Uganda can broaden it's exports into the region and Middle East. In congo through UMOJA group in kinshasha, we can work together with the office of his Royal highness in enhancing export of sugar, bean, rice including milk in the DRC Congo, Capt Mukula noted.
According to Sheikh Ahmed Alkalosis, the senior advisor to his Royal Highness UAE, “ On behalf of His Royal Highness Sheikh Ahmed Alkasim , I would like to thank the government of Uganda for the invitation and amazing support from his Excellence the president of through his office. The United Arab Emirates (UAE) is extremely entering Uganda market with such a strong partnership.”
As the UAE, there are upcoming opportunities in this partnership being the first, however, “ we are surprised by the spirit of positive change in Uganda because of signing two important MOU's during our visit,”he said.
He added that Uganda is their main destination for future investments and consider it as a gateway for the market in the region of East Africa. Therefore the agreement plays a key role to His Highness Sheikh Ahmed's strategy.
John Magney the chairman of Bbaale Baale Sugar Works described how very exciting the day was for Baale Sugar Works by signing an MOU with the office of his royal highness of UAE, it is the begging of the investment in Baale area, he said.
This shall not only grow sugar business but also the business of ethanol, power and the supplying to local markets in regions and international market.
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