Uganda Development Corporation creates 3964 jobs

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Uganda Development Corporation (UDC), which is the investment arm of government, has so far made multibillion investments in over 18 projects which include factories and hotels.

During a strategic engagement on Tuesday (August 20) between a team of Vision Group managers led by the CEO Don Wanyama and the UDC managers led by their CEO Dr Patrick Birungi, the two entities made a commitment to closely work together in advancing the country’s economic transformation.

According to the information Dr. Birungi provided, they have so far created 3964 direct jobs and 10,000 indirect jobs. (Photo by Mpalanyi Ssentongo)

According to the information Dr Birungi provided, they have so far created 3964 direct jobs and 10,000 indirect jobs out of their 18 investment projects and at least sh20b has been paid to farmers for the agricultural produce supplied to the factories for processing.

Asked where he wants UDC to be in the next 10 years, Dr. Birungi said, “In the next 10 years I would like to see UDC as it was in the 1970s as the second biggest employer in the country after public service with the creation of over 40,0000 jobs as staff handling our different projects. We hope to undertake projects which absorb more than 40,000 workers. Our vision is to make sure we have a UDC with factories distributed across the entire country to facilitate speed economic growth for our country.”

Some of the UDC investments include Soroti Fruits Limited, Mabale Growers Tea Factory, Mpanga Growers Tea Factory, Kayonza Growers Tea Factory, Kigezi Highland Tea Limited, Horyal Investment Holding Company (Atiak Sugar factory),

Vision Group CEO speaking during the strategic engagement with Uganda Development Corporation (UDC) at their offices. (Photo by Mpalanyi Ssentongo)

Others include Bukona Agro Processors Ltd, Mutuma Commercial Agencies Limited, Budadiri Arabica Coffee and Mills Ltd, Kalangala Infrastructure Services, Nile Hotel International Limited, Munyonyo Commonwealth Resort, Speke Resort Convention Centre, Abubaker Technical Services and General Supplies and East African Medical Vitals.

Dr. Birungi noted that whereas they have so many factories and other investments they plan to undertake to unlock economic opportunities for Ugandans in many spheres, UDC is still greatly underfunded.

Patrick Birungi, the Executive Director Uganda Development Corporation shaking hands with Don Wanyama, the CEO Vision Group. (Photo by Mpalanyi Ssentongo)

When UDC was being revived in 2016, there was commitment from both Parliament and the Executive to capitalise UDC with over Sh500b to enable UDC engage in massive investments and create thousands of jobs, but the money was never given to the entity.

Civil Society Organizations under the Civil Society Budget Advocacy Group (CSBAG) have several times suggested the need for government to adequately fund UDC with sh100b as part of the necessary interventions for creating economic opportunities for Ugandans including jobs.

In their 2022 budget position paper presented to the Parliament Trade, Tourism and Industry Committee, CSBAG argued that capitalization of UDC would strengthen government in unlocking investment opportunities in various key sectors of the economy.

Speaking at the meeting which took at UDC offices in Nakasero, Wanyama commended UDC for the numerous investments which have created economic opportunities for Ugandans.

“I must confess that before our interaction of today, I was partially illiterate about UDC. The speed of progress from zero to over 18 big investment projects is very commendable. We are optimistic that as you have promised more other three to four investment projects will have been added on your investment portfolio,” Wanyana.

Wanyama said he believes that with increased support to UDC to establish various factories and other investments, the entity can greatly help the country in addressing the high unemployment rate among young people.

“I always see young people asking on the social media platforms about what government is doing to create job opportunities for them. Your interventions are greatly helpful in job creation,” Wanyama said.

Vision Group team led by CEO Don Wanyama and UDC managers led by their CEO Dr. Patrick Birungi pose for a photo. (Photo by Mpalanyi Ssentongo)

Raising concern that so many media houses in the country give more priority to negative and bad incidents, Dr Birungi implored Vision Group to give more priority to development news.

He explained that UDC is looking into expanding its project portfolio with a long list of pipeline projects in sectors strategic to Uganda’s socio-economic transformation such as agro-manufacturing, hospitality and tourism, science, technology and innovation, construction, mineral beneficiation among others. These projects are at different levels of the appraisal processes.

Emphasizing the need for all policymakers to prioritise UDC as the investment arm of government, Dr. Birungi said, “Our projects create jobs directly and indirectly. All our projects have a multiplier effect on the economy and in getting households out of poverty. UDC has enormous potential in helping the president to get millions of Ugandans out of poverty.”