Vinubhai Nangrecha and Hasubhai Nangrecha, the two brothers who run a successful cash and carry business with a vast property portfolio, recently donated two tractors and a cash grant to rebuild the 75 year old Nyakika Primary school in Ruhaama Ntungamo District, in an effort to provide better education for Ugandan children.
The brothers were in the country on a follow-up visit to the First Lady and Karamoja Affairs Minister Janet Museveni, who hosted the group at Nakasero State House.
The First Lady Janet Museveni welcomed the Ugandan born Indian investors who are willing to have an input in the rehabilitation and development of Uganda. The group was led by Mr. Willy Mutenza, a Ugandan businessman based in the UK and the Chairman and Founder of the Uganda UK Convention.
The Investors’ interest in Uganda is in response to the First Lady’s call to Ugandans in the Diaspora and their friends to invest in the country. She made the call during the Uganda UK Convention 2012 in London last September. The Convention, which ran alongside the Diaspora Trade and Investment Expo 2012 under the theme “Aspiring for Sustainable Prosperity”, promoted Uganda as the preferred investment destination for Ugandans in the Diaspora.
The Nagrecha brothers plan to invest between $10 to $20 million in a modern maize mill plant in the country, as well as mobilise growers and build silos in maize producing areas. The group further told Mrs. Museveni that they intend to explore opportunities of investing in milk processing, fruit processing and biomass power generation.
The brothers left Uganda during the Idi Amin’s expulsion. From nil assets, they became some of the wealthiest Asians in UK. They said their hearts are with the country and pledged to do their best to help rebuild Uganda.
Other investors in the delegation included Champak Unadkat (Nitash Cogeneration), Nirmal Bhandari (Pride International) and Ashwin Chandrani (Overseas Steel supplies Ltd) from the UK.
Mrs. Museveni thanked the Indian investors for their kind heart and for their input in rebuilding Uganda. In addition, it is great to see that the Ugandan UK Convention has managed to fulfil its objectives and mission in attracting investors to Uganda.
Isabelle Gravenstein – 07737 666724
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