The Hub’s investment team spent much of October in Uganda to support investment linkages and investment promotion agency capacity building that will lead to downstream investment closures. The Hub has supported the closure of $57 million in investments over the life of the project, with $155 million of deals under review in its investment pipeline. Linkage events like the BiD Network Investment Mission detailed in the below video help lay the groundwork for more deal closures.
The video above is produced by BiD Network
BiD Network is one of the world’s largest and most active early-stage impact investing networks. Twice a year, BiD Network hosts a week-long trip to Uganda for potential investors to visit pre-identified early-stage businesses and to meet the entrepreneurs and local investors and stakeholders behind the businesses. Investors get to witness firsthand the impact that their investment could make. The trip promoted high-potential investment opportunities and helped mobile investment from foreign investors by demystifying perceived investment risks in the region. The Hub helped identify strong early-stage businesses for the mission and is supporting the Uganda Investment Promotion Agency to showcase Uganda’s potential for investment.
From October 18 – 20 and October 30 – November 2, the Hub facilitated workshops on investment promotion best practice and investment profiling for staff members of the Uganda Investment Authority. The best practices training highlighted the best practices in investment promotion and facilitation exemplified by leading IPAs such as the Board of Investment Mauritius (BOI), which was cited by the World Economic Forum Global Competitiveness report 2016 as the best performing agency in Africa. The participating UIA staff learned international best practices for showcasing potential Uganda investments, with the goal of attracting high-quality foreign direct investment to the country. They identified gaps between the best practice and the mode of operation at their institution and developed an action plan to implement interventions to make the agency and Uganda more investor friendly.
“I found the profiling training very enriching and informative. There should be a follow up training of the same nature in the near future it will be very helpful,” said Sarah Nassimbwa on of the trainees.
“The training has been very informative, I have learnt more on how to attract investors” said Harriet Nanyonjo one of the trainees.
The Hub works to attract, mobilize and sustain new private-sector investment within the East African region. Investment is a core ingredient for firms of all sizes to innovate, grow and ultimately sell their products locally, regionally and internationally.