OPIC President and CEO Highlights U.S. Investments in Uganda
July 21, 2018
(OPIC)
KAMPALA, Uganda - Overseas Private Investment Corporation (OPIC) President and
Chief Executive Officer Ray W. Washburne today visited Uganda where he met with
Prime Minister Ruhakana Rugunda and Minister of Finance Matia Kasaija to discuss
investment opportunities to advance development in the country, and visited
OPIC-supported projects. Uganda is the fifth stop on a six-country trip to
promote U.S. investment in Sub Saharan Africa, strengthen partnerships, and
identify opportunities to work with regional allies on projects that drive
economic growth and stability throughout the region.
Among the projects visited was the telecommunications company Africell will use
OPIC financing to expand mobile networks in The Gambia, Sierra Leone, Uganda and
Democratic Republic of the Congo. This project is helping catalyze economic
growth and advance OPIC’s efforts to further connect Africa to the global
market and supports the mission of OPIC’s new Connect Africa investment
initiative.
“Africa leads the world in mobile adoption, which continues to offer
opportunities across a range of sectors,” said Washburne. “Supporting
investments in technology not only increases connectivity, but also critical
economic opportunity and growth.”
Washburne is traveling to Africa to explore investment opportunities and to
highlight OPIC's new Connect Africa initiative to invest more than $1 billion in
transportation, technology and value chains on the continent. The trip has also
included visits to Zambia, Rwanda, South Africa, and Botswana. From Uganda, Mr.
Washburne will travel to Kenya to meet with senior government officials and
visit OPIC supported projects.
Africa is a longstanding priority for OPIC and accounts for about one-quarter of
the agency's $23 billion global portfolio.
As part of his National Security Strategy, President Trump highlighted the need
for a modernized approach by the U.S. government to development finance to help
grow aspiring partners, promote economic relationships, and increase investment
in regions important to American interests.
Learn more about OPIC's Connect Africa Initiative
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