By patriot corps
- Recognized for Green Investment Initiatives Driving Economic Growth
Uganda has clinched the prestigious AIM Investment Award 2024, affirming its status as a premier investment destination in Africa. The accolade, presented during the 13th Annual Investment Meeting (AIM) in Abu Dhabi, UAE, highlights Uganda’s success in attracting substantial foreign direct investment (FDI) projects.
Under the theme “Adapting to a shifting investment landscape: Harnessing new potential for global economic development,” the AIM Congress 2024 showcased Uganda’s commitment to sustainable development. The Uganda Investment Authority (UIA) showcased three exemplary green investment projects, attracting over $400 million in FDI following COP 28 in Dubai.
Among the winning projects is Spouts of Water, Africa’s leading manufacturer of ceramic water filters. With a focus on affordability and accessibility, the company aims to reach six million households by 2030, bolstering employment opportunities for Ugandans.
1MTN, a nature-based carbon removal project developer, is on a mission to restore one million hectares of degraded land by 2030 through bamboo planting, emphasizing biodiversity management. Similarly, Nexus Green, a solar energy company, seeks to address energy poverty in East Africa, demonstrating Uganda’s commitment to sustainable energy solutions.
The AIM Investment Award recognizes Uganda’s strides in fostering an enabling environment for investments and business growth. Minister of State for Finance, Hon. Evelyn Anite, hailed the accolade as a testament to Uganda’s dedication to the green economy.
Mr. Morrison Rwakakamba, Chairman of the Uganda Investment Authority, praised the strategic significance of the winning projects in mitigating climate change and environmental challenges.
Mr. Robert Mukiza, Director General of UIA, emphasized the award’s significance in affirming Uganda as a prime investment destination, showcasing the authority’s effectiveness in attracting quality investments.
This marks Uganda’s second consecutive recognition at AIM, following its previous awards for Best Investment Destination in East Africa and Best Investment Promotion Agency. UIA’s licensing of over 1,200 investment projects in recent years underscores Uganda’s growing appeal to investors.
As an essential fixture for FDI in emerging markets, AIM attracts a diverse array of stakeholders, offering invaluable insights into investment opportunities across high-growth regions.