UNCCI President Olive Kigongo

The president of the Uganda National Chamber of Commerce and Industry (UNCCI) Olive Kigongo has urged Russians to invest in the Uganda’s renewable energy.

Speaking at a forum organized by the Ministry of Foreign Affairs and held at the Office of the President, Ms Kigongo told the Russian delegation: “We believe our next drive for income is in oil but importantly the sustainability of our environment lies with how quick we shall switch from overreliance on non-renewable sources of energy to adoption of renewable energy source.”

Ms Kigongo lauded the Russians’ expertise in renewable energy and said Uganda would like to adopt such technologies.

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“You are experts of renewable energy and we would wish to import such technologies. Indeed some of our private companies are ready to invest in those technologies,” she said.

She said that in 2009 UNCCI signed a memorandum of Understanding with its Russian counterpart, the Chamber of Commerce and Industry of Russia, paving the way for business to business partnerships that have led to increase of Uganda’s exports to Russia.

In 2016, she said, Uganda’ exports to Russia earned her US$8 million while the country spent US$84 million from US$36 million in 2008.

The Russian companies represented on the delegation have interests in Oil and Gas, Mining, ICT, Coffee, Security and pharmaceuticals which are all priority areas of Uganda government and the private sector too.

“I therefore call upon the private sector to take advantage of their being around and tap into their potential. Allow me thank the ministry of Foreign Affairs for organizing this forum and the governments of the two countries for such cordial relations that encourage commercial diplomacy and business venturing,” Ms. Kigongo said.