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Nigeria's High Commissioner Tips Jinja City Authorities on Attracting Investors :: Uganda Radionetwork
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Nigeria's High Commissioner Tips Jinja City Authorities on Attracting Investors

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Ayobami highlighted the issue of low intra-continental trade, which has been limiting Africa's economy and turning the continent into a supplier of raw materials to other parts of the world, resulting in lower dividends.
Nigeria's high commissioner to Uganda, H.E Ismail Ayobami Alatise.

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Ismail Ayobami Latise, the Nigerian High Commissioner to Uganda has tasked Jinja city authorities to draft well-researched feasibility studies that highlight the investment climate, tax incentives, and other key potential factors within their territorial area. These studies, he emphasized, are crucial for attracting investors to the region. In a meeting with Jinja city leaders and the business community, Ayobami emphasized that investors are primarily interested in profitable returns on their investments. 

To make Jinja an appealing destination for investors, he stressed the need for thorough market analysis and successful reports from other investors. This, he argued, would facilitate the ease of investment in the area. Ayobami pointed out that attracting investors is a convincing process. However, by presenting clear and comprehensive data on investment drivers in areas like tourism and agribusiness, Jinja City can make itself an attractive investment choice.  

Having traveled through over eight districts and cities in Uganda, Ayobami's team noted that many of the investment drivers, such as favorable climate and the availability of raw materials, are similar to those in Nigeria. He proposed that with increased collaboration between the two countries, specific areas for investment could be identified, such as art tourism, mining, and oil and gas.  

Transportation challenges have often puzzled potential investors from Nigeria to Uganda. However, Ayobami pointed to the direct flights from Uganda Airlines to Lagos and the plans to expand these services to Abuja and Kano as potential solutions, making cargo exportation more accessible and strengthening bilateral trade relations. 

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Ayobami highlighted the issue of low intra-continental trade, which has been limiting Africa's economy and turning the continent into a supplier of raw materials to other parts of the world, resulting in lower dividends. He stressed that improving bilateral trade relations can enhance Africa's economy, supporting economic growth for all its citizens. 

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Ayobami cautioned potential investors in both Nigeria and Uganda to be wary of fraudsters who manipulate optimism for investment opportunities to defraud them. 

//Cue in: "When you want...

Cue out... with different ideas,"// 

Bernard Mbayo, the Jinja City Council Speaker, announced that they have partnered with the Uganda Investment Authority (UIA) to establish industrial parks where investors can easily set up their enterprises. Mbayo also revealed plans to twin Jinja City with Lagos Islands, fostering technological transfer and trade-related synergies between the two entities.

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