The State Minister for Investment and Privatisation, Evelyn Anite has asked a visiting delegation of investors from an American technology firm, to consider investing in the struggling State-owned Uganda Telecommunications Limited (UTL).
The delegation from Mark43, a U.S based technology arrived in Uganda a few days ago. The company empowers communities and their governments with new technologies that improve the safety and quality of life for all.
The delegation was ushered into the country by the Country Manager, East African Partners (EAP), Isaac Kigozi and taken through a number of investment opportunities in the country.
The team is led by Matthew Polega Mark43 Co-Founder & Head of Marketing, Florian Mayr, Co-Founder & Vice President of Solution Architecture and Mark Duane Roylance.
They met with President Yoweri Museveni and the Speaker of Parliament Rebecca Kadaga on Sunday, on the sides of the 34th National Resistance Movement (NRM) Day celebrations.
The President appreciated the delegation for taking interest in investing in Uganda as well as seeking to advance Uganda’s technology.
During the meeting, Minister Anite noted that the team comes at a time when the country’s oldest telecommunication company, Uganda Telecom Limited (UTL) is looking for a suitable investor to run its operations to the maximum.
Anite told the delegation that as they are experts in advanced technology, their skills can help revive the country’s oldest telecom company with the new trending technology.
“We welcome you to Uganda, the Pearl of Africa, a country with enormous investment opportunities in technology, Agriculture, Tourism, Oil and gas, Education, Health and other sector; we welcome you to take interest in any of the sectors and government is ready to offer you any kind of support,” Anite said.
UTL has been in Administration since April 2017, having gone under insolvency as a result of poor management which resulted in failure to pay the company’s creditors. The Former Uganda Law Society boss, Ruth Sebatindira, was recently appointed as the new Administrator of Uganda Telecom.
Mathew Polega, the co-founder of Mark43 noted that the company will as well collaborate with government to train and equip youths in the country with new technologies that are tailored towards offering solutions to prevailing problems as well as making good use of social media.
“The biggest successful technology world over is the existence of the cloud, the use of internet; any idea turned into an application (App) can be a basis of a good technology,” Polega said.
“All enterprising companies need consumer technology and Social Media is one way companies engage with users of their products; you always want to develop solutions that will help you engage with your customers to know what they think about your products and social media is a great platform, it helps companies know what customers think about their products and that they care,” Polega said.