Daily Monitor
Friday January 08 2021
A section of the Kampala Industrial and Business Park located in Namanve. The park sits on 2,200 acres. PHOTO BY MICHAEL KAKUMIRIZI
Summary
According to Mr Kiggundu, the loan was sourced from the new UK Export Finance, a UK government financing arm operating under the Department for International Trade.
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After 20 years of being gazetted as a signature land for investment, the story of the unending tale of Kampala Industrial and Business Park (KIBP) located in Namanve, is set to change.
Speaking to journalists at the preliminary stakeholder engagement workshop in Kampala yesterday, the Acting Director General of the Uganda Investment Authority (UIA), Mr Joseph Kiggundu, said the country has since secured about €215 million loan (about Shs974 billion) meant for the construction of KIBP entire infrastructure.
Daily Monitor
Friday January 08 2021
Director of Industrial and Business Parks at Uganda Investment Authority (UIA), Mr Hamza Galiwango and the acting Director General of the Uganda Investment Authority (UIA), Mr Joseph Kiggundu. PHOTO/ ISMAIL MUSA LADU
Summary
More than 300 companies have been granted licence to operate in the park. UIA is expecting the number to grow to about 500 with SMEs being given special consideration
If 300 investors’ currently allocated spaces in the KIPB inject a total investment of at least $3billion (about shs17trillion) UIA anticipates that more than 1million jobs could be directly created as a result
After 20 years of being gazetted as a signature land for investment, the story of the unending tale of Kampala Industrial and Business Park (KIBP) located in Namanve, is set to change, this time hopefully with a happy ending.
Export Insurance Policy
Selling vintage and printed women’s fashion, Rustin and Mallory are an experienced exporter selling wholesale to customers in the USA, Europe and Australia as well as retail sales through their website.
Since the start of 2020, their exporting business has soared. 35% of their profits now come from overseas, up from 15% at the start of the year, enabling them to double their staff numbers at their warehouse in Bromsgrove, Worcestershire.
Their biggest overseas customer is Urban Outfitters, who have been clients for 15 years. However, financial uncertainty caused by the COVID-19 pandemic caused them to lose insurance cover, putting this longstanding relationship at risk.