Written by Evans Wafula 
2012-12-03 12:14:00


Kampala, Uganda: President Yoweri Museveni has pledged Uganda’s support to the proposed investment fund targeting the housing sector, Education and skills and gas development in Uganda and other African countries.

The fund proposed by the outgoing Director General of the Commonwealth Business Council Dr. Mohan Kaul will be implemented using a loan from the Commonwealth Investment Fund and the Africa Investment Fund.

Dr. Mohan who has been Director General since the business council was started in 1997 has been replaced by Sir Alan Collin a former career diplomat.

Mohan who was in Uganda to brief the President about the Commonwealth investment plans in Africa said he was exploring investments in housing for defense forces of two to three bedroom houses each worth US$45,000 to US$ 50,000 dollars a piece with a loan payable over ten years period and an interest of up to 2% per annum.

“We are also looking at investments in gas and solar projects and in skilling in Uganda as part of promoting trade and industry,” he said.

Dr. Mohan said they also wanted to invest in a skilling training facility and urged government to strengthen the certification process to promote trade. He also said they intend to initiate a pilot project for clean water using Spanish technology that is cheap and effective.

President Museveni said; the investors can build and run the facility privately as long as it offered quality training to suit the market. Uganda has already provided land for the Commonwealth technologies at the Namanve Industrial park to focus on agriculture, ICT, tourism and infrastructure.