Qatar has expressed interest to invest in Uganda after a representative of rich Arab nation recently paid a courtesy visit to President Yoweri Museveni.
Sheikh Faisal bin Thani Al-Thani, Director of Regional Investment Funds at the Qatar Investment Authority, met President Museveni to explore investment opportunities in the sectors of infrastructure, energy, tourism, mining and food security in Africa.
Sheikh Faisal also conveyed warm greetings to President Museveni and the people of Uganda, from the Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani.
“The Qatar Investment Authority has US$1 billion to invest in Africa and we are looking for areas to partner in,” he said.Qatar Investment Authority is a state-owned holding foreign wealth fund that specializes in domestic and foreign investment.
President Museveni praised Qatar’s interest to invest in Africa and Uganda as one of the countries to invest in. He said there are opportunities in the agro-processing business, mining, and hospitality, among others.
“We want vertical integration. We want to do processing here that is linked with our industries. For example, we want to mine copper to feed our transformer and military sectors. Minerals must be purified to the top level so that we use them for our industries and export the excess,” he stressed.