Ugandans to meet for UK Uganda convention

By Stephen Wandera (Daily Monitor)

Ugandans in the diaspora will on August 27 convene in the United Kingdom for the annual Uganda UK Convention 2011, to share trade and investment experiences.

A statement to Daily Monitor, said the convention gives Ugandans an opportunity to explore current and emerging strategic development plans and specific areas for trade and investment.

It also aims at attracting investment opportunities in real estate, gas and oil, health and education, information and communication technology so as to establish prosperous business community.

Weakening Shilling
The forum that seeks to attract investors to Uganda comes at a time when the country is struggling with high inflation, depreciating Shilling and the increasingly high cost of doing business.

The Shilling has fallen by about 13 per cent on the back of rising inflation currently at 15.8 per cent. This has as a result increased the cost of doing business and has caused companies operational budgets to shoot up.

If the convention can achieve its objective of attracting investment to Uganda, this could ease pressure on the local Shilling that has been depreciating against major currencies especially the dollar.

Leave a Reply