A delegation of eight American investors has arrived in Uganda ahead of a networking breakfast meet up for investors, Venture Capitals, Angels and Startups to share their vast experience as well as harnessing investment opportunities in the country.
The delegation includes; Greg Dennerlein the Director Venture DNA, Chris Paladino the Principal at NCP Equity LCC, John J Joyce the Director sales at W.R Joyce Incorporated and Libby Andrews the Managing Partner East African Partners in the U.S among others.
The delegation has been coordinated by Isaac Kigozi the President and Managing Director, East African Partners Ltd (Africa).
According to Kigozi the American investors will meet local tech entrepreneurs and innovators with whom they will share new business skills in relation to the prevailing challenges.
“This engagement will provide a platform in which our tech developers and innovators will be able to understand the business dynamics so that they are able to channel their developments with the needs at hand,” Kigozi said.
Speaking to SoftPower News ahead of the tech conference on August 14 at Serena Hotel in Kampala, the investors noted that they are delighted to be in Uganda adding that they are much optimistic that Uganda is well positioned and a better investment destination in the region.
Libby Andrews noted that Uganda’s infrastructural development is at a level that would enable a number of business investment to thrive.
“This is my first trip to Uganda, I have heard a lot about it through our partners. I had to come over and experience it myself so that I can best advise several companies in the United States to enable them make better investment decisions,” Libby said.
Libby added that, “The reception is so interesting and very pleasant to be in an environment like this; I think many Americans have a poor perception of what Africa is all about but to come here and see the vibrant, thriving urban environment is very pleasant.”
He also cited the available human resource which is a foundation of any investment which would mean that any investor willing to do business in Uganda won’t have to begin from scratch.
Chris Paladino the Principal at NCP Equity LCC noted that among the many business investments that he looks forward to invest in is setting up a mosquito repellant company that will help fight Malaria which is the number one leading death of Africans by targeting the mosquitoes.
“I am blessed to have worked with the American Red cross for over 12 years and even when I joined business, I love to do business which help people, hence the Verdegen Mosquito gel repellent,” Paladino said.
He added that, “We recognize that mosquito borne illnesses is a tremendous challenge and are causing illnesses and death especially in East Africa; we know that there are a lot of products that treat the disease but we want to stop the disease from spreading by targeting the mosquito.”
He said that they look forward to setting up a factory that will be manufacturing the repellent in a gel form which is far different from the usual mosquito sprays that are undesirable to some people.
On his part, John J Joyce, the Director sales at W.R Joyce Incorporated noted that the group of companies that he represents will aim at exploring and setting up investments into the coffee sector as well as encouraging more investment into setting up a super specialized medical centre in Uganda.
“My business supplies medical supplies, we supply membranes that distribute information to speed up healing from any illnesses. We look forward to setting up a well equipped medical centre to save Ugandans from a number of referrals,” John said.