MTN Uganda collaborates with other South African businesses to attract more South African investments in Uganda

MTN Uganda in collaboration with key South African businesses in Uganda and key local institutions, including Absa Bank Uganda, Sanlam, Nile Breweries Limited, Stanbic Uganda Holdings Limited, dfcu Bank, MultiChoice Uganda and Woolworths, have partnered to support the Uganda government attract foreign direct investment through the upcoming Uganda-South Africa trade and investment summit.

The two-day summit to be held at the Speke Resort Munyonyo starting September 5th to 6th follows a similar summit held in South Africa in February this year.

Ms Sylvia Mulinge, the Chief Executive Officer of MTN Uganda, a subsidiary of MTN Group based in South Africa and the lead sponsor of the summit, said MTN’s decision to support the summit and rally other key South African businesses and local institutions in Uganda was a response to an ask made by His Excellence the President of the republic of Uganda and its commitment to working with the government to facilitate the country’s social and economic development.

“MTN is  here today in fulfilment of President Yoweri Museveni’s ask and commitment made during the first leg of the Uganda-South Africa trade and investment summit held in South Africa in February this year, in which our head of state  tasked successful  South African Businesses in Uganda  to mobilize more South African companies to come and invest in Uganda especially in Agro- Industrialization, manufacturing  and tourism to boost the economy, create more jobs and improve the country’s balance of trade,” she said.

“MTN’s mantra this year is together we are unstoppable, hinged on our belief in the power of collaboration. We believe that we can achieve a faster social and economic transformation when private sector players partner with the government in support of the countries’ National Development,” she added.

The summit is meant to attract South African investors into Uganda, in the areas of Agro- industrialization, steel manufacturing, tourism and the energy sector.

This comes as available statistics from the Bank of Uganda show that the value of the country’s exports to the South African nation continues to grow albeit at a slow pace doubling to US$ 21.24 million in the past 10 years up to 2022.

According to Uganda Investment Authority, Uganda’s exports to South Africa include cotton, gold, fish fillets, tobacco, coffee, and fresh flowers.

On the other hand, South Africa’s exports to Uganda include machinery, vehicles, plastics, chemicals, electronics, parts and accessories, petroleum, live animals, books and newsprint, textiles, footwear, aircraft, and household goods.