Business
Uganda: Planned investment triples in first quarter of 2012
Wednesday, May 16, 2012
The government has in recent years stepped up efforts to promote private investment in the sector in part to fill the gap in public financing.
In the next financial year the government has allocated a total of 215 billion shillings (US$ 87 million) toward the financing of 700 MW Karuma hydropower project.
According to the investment agency, Ugandans accounted for the largest chunk of planned investment at US$708 million followed by Sweden with investments worth US$78 million.
UK explorer Tullow Oil says it plans to invest up to US$750 million in Uganda this year with its partners, France’s Total and China’s CNOOC, as the country races to start commercial oil production.
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