By Kabuye Ronald
On Sunday, Uganda took a major step toward transforming its energy and economic sectors with the signing of a groundbreaking oil refinery agreement between the government of Uganda and Alpha MBM Investments LLC, a UAE-based company. The deal marks a significant milestone in Uganda’s industrialization efforts, with the construction of a crude oil refinery in Hoima District set to have a capacity of 60,000 barrels per day.
The agreement was witnessed by President Yoweri Kaguta Museveni, who emphasized that the refinery’s construction would not only meet Uganda’s domestic fuel needs but also allow the country to produce and export refined products rather than continuing to import them. “We must stop exporting raw materials and instead add value to everything we produce,” said Museveni, highlighting the long-term benefits of the project for Uganda’s economic independence.
The refinery is part of Uganda’s broader strategy to enhance its industrial base and leverage its oil resources for national development. President Museveni also expressed his gratitude to the UAE for their partnership, thanking His Highness Sheikh Mohammed Bin Maktoum and the UAE investors for their commitment to Uganda’s growth.
In addition to the refinery project, Museveni witnessed the signing of five other key agreements with UAE investors, spanning multiple sectors. These include aviation, tree planting, a digital land management system, logistics cargo hubs, storage chain facilities, and the development of a comprehensive digital payment system for government transactions. The agreements are expected to enhance Uganda’s infrastructure and economic capabilities, paving the way for increased foreign investment and job creation.
This historic partnership between Uganda and the UAE is poised to foster long-term collaboration and drive Uganda toward greater self-sufficiency and prosperity.
