Ugandan companies have signed mega deals with German firms such as MMEC Mannesmann GmbH and Siemens in the areas of energy, industry and transportation.
The agreement between Uganda, Siemens and MMEC Mannesmann GmbH also focuses on healthcare. Greater focus however, will be on increasing the country’s electricity generating capacities and connecting more Ugandans to the power grid.
Ugandan Finance Minister, Mr Matia Kasaija signed on behalf of his country while Mr Joe Kaeser, the Chief Executive Officer of Siemens Group and Mr Mesut Sahim, the Chief Executive Officer of MMEC, signed on behalf of their respective companies.
Speaking during the signing of the deals, President Museveni said that Uganda offers a perfect investment environment.
Mr Museveni, who is attending the World Economic Forum in Durban, South Africa
said that Africa and the developed countries could support each other for their citizens’ prosperity.
“Africa, Europe, USA, India, Japan, China and South East Asia can support the prosperity of one another through production and the sale of goods and services,” he said.
Siemens is a German conglomerate and the largest manufacturing and Electronics Company in Europe. The company also has interests in industry, energy, healthcare and infrastructure and employs over 350,000 people across its global operations. MMEC on the other hand focuses on engineering with interests in oil and gas, chemicals, metals and mining.
In recent years, the company has made inroads to Africa investing in clean energy. The firm is one of the companies involved in the construction of the Lake Turkana wind farm in Kenya.
The World Economic Forum,is the international organization for public-private cooperation that is committed to improving the state of the world, is the international organization for public-private cooperation.
MMEC Mannesmann GmbH is a German based general contractor with over 50 years of trading behind it. The firm’s services cover the entire cycle from early project development, feasibility studies, including hydraulic and case studies, conceptual and basic design, front-end engineering design up to implementation of turn-key projects.
The company is renown for the execution of projects for the oil & gas (upstream and downstream) and chemical industries.