Exciting details have emerged of an economic plan by Aya Investments to support Uganda’s economy post the COVID-19 lock down.
We have learnt that Aya Investments owned by money magnate, Chairman Mohammed Hamid intends to inject billions of shilling in a project that will see the creation of a vast industrial park in the country using Ugandan made products in support of the Buy Uganda, Build Uganda (BUBU) initiative.
The BUBU initiative encourages investors and Ugandans at large alike to support Ugandan made products through production and consumption.
It is an policy that has been touted and given full backing by President Yowrri Museveni.
Our credible sources have intimated to us that the blueprint of Aya’s mega project, will see the use of Ugandan raw materials to support local suppliers.
Aya is the proud owner of the opulent Pearl of Africa Hotel, that stands atop the Nakasero Hill in Kampala.
He is ranked by Forbes as one of Uganda’s richest men.
He has also written his name in the manufacturing sector of the country with factories that produced wheat, biscuits etc. He is also into food processing, construction and transportation.
Many jobs are expected to be created with the project that will be in Kampala.
Sources reveal that it was supposed to begin early this year but the advent coronavirus, put it on hold.
However, this publication has learnt that it is just a matter of time before the project commences.
Economic Analysts believe it will be a major boost to Uganda’s economy as the country deals with the effects of the coronavirus.
It should be noted that Uganda has been under a nationwide lock down for the past two months to stop the spread of coronavirus.
In the past two weeks, the country has eased restrictions and many are looking forward to revamping their economic lives.
Aya’s project will come in handy by creating jobs for Ugandans and boost the economy.
As of June 2014, the Aya Group was a fast-growing conglomerate. It is one of the largest corporate employers in Uganda, with over 5,000 people under payroll.
On the philanthropic side, the Aya Foundation is a non-profit charitable organization that was set up on the urging Mohammed Hamid, the Group Chairman. The foundation assists organizations that cater for needy children. One area that the foundation pays special attention to is the provision of pediatric medications.