Africa Economy Export Finance Industry Infrastructure Investing Uganda

Uganda gets US$246M UK credit for industrial park upgrade

Uganda received $246 million credit from the U.K. Export Finance agency to upgrade its Kampala Industrial and Business Park as the East African state focuses on manufacturing to spur the economy.

The country will use the credit on infrastructure for the 2,200-acre park and Lagan Group Ltd. has been contracted to carry out the work over a 42-month period, the Uganda Investment Authority said in an emailed statement. Most investors allocated land at the park have failed to establish operations because of a “complex geographical terrain” and “inadequate basic infrastructure,” the agency said.

Source: Bloomberg

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