By Herbert Musoke
One of the challenges facing investors in the agriculture sector is funding. However, the Uganda Development Corporation (UDC) is ready to solve this challenge during the Harvest Money Expo.
As the Government’s investment arm, UDC drives industrial growth by establishing subsidiary and associate companies, forming public-private partnerships with commercial, industrial or agricultural enterprises, as well as promoting, facilitating and implementing public-private partnerships.
UDC was established under the Uganda Development Corporation Act 2016, with the aim of promoting and facilitating industrial and economic development in Uganda.
UDC’S commitment to agriculture
Denis Dokoria, the head of public relations at UDC, explained that the corporation assists in financing and managing projects that promote industrial or economic development, as well as conducting research in industrial development.
“It is a privilege for us to be sponsors and partners of the biggest and most infl uential annual agricultural expo in Uganda. We have seen, observed and listened and believe that this is the right decision we have made,” Dokoria said.
The expo is organised by Vision Group in partnership with the Embassy of the Netherlands and sponsored by UDC, Engineering Solutions, Tunga Nutrition, Bella Wine, Pepsi Cola and aBi-Development.
Dokoria said the expo is not just about visiting the stalls to see and admire, but provides a platform for interaction and creating working partnerships between individuals, organisations and companies.
He noted that agriculture, the backbone of Uganda’s economy, has immense potential through creating employment for Ugandans and contributing to the national gross domestic product.
“We also know that a lot of agriculture is focused on primary production and less on value-added products. Looking at the theme of this year’s Harvest Money Expo, Farming as a business, value addition and co-operatives, we think that this is the direction we need to take,” Dokoria said.
UDC’S impact at the expo
Dokoria said UDC comes at the expo to play a crucial role in value addition through their mandate of promoting and facilitating industrial and economic development.
“We want to make sure that through the industries we support, industrialisation and value addition that we promote, the farmers are able to turn around their incomes. NUCAFE [National Union of Coffee Agribusiness and Farm Enterprises], for example, has a model of what UDC aspires to do,” Dokoria said.
UDC’S investment model
Denis Dokoria, the head of public relations at Uganda Development Corporation (UDC) explained that the National Union of Coffee Agribusiness and Farm Enterprises talks about the farm ownership model and UDC speaks about principles of investment, one of which is job creation.
He added that UDC has so far supported 17 enterprises (industries) as a way of creating jobs with over 4,000 direct jobs and over 100,000 indirect jobs created.
He noted that the second principle is raw material utilisation, arguing that Uganda produces raw materials in form of farm produce that need to be turned into value added products and utilise them other than getting spoiled on the farm.
“UDC also looks at impacting the country’s trade balance through export promotion and import substitution and the Harvest Money Expo speaks to this,” Dokoria said.
He said UDC is looking at regional balance in terms of industrialisation by ensuring that industries go to the people for raw materials.
He said UDC has invested in many entities outside Kampala that are now transforming communities.
LEAD PHOTO CAPTION: Uganda Development Corporation’s Dokoria says they assist in financing and managing projects that promote industrial or economic development. UDC will be present at the expo.
