Zuma explores Ugandan investment opportunities

2010-03-25 13:01

PRESIDENT Jacob Zuma arrived in Kampala today for a two-day state

visit, heading a large delegation expected to explore investment opportunities

in Uganda’s new-found oil wealth.

“The visit is a big opportunity for Uganda and South Africa, now

that our country has discovered oil, they can help because they have the

expertise in that field,” Uganda’s junior foreign minister, Isaac Musumba, told

AFP.

“Other than oil, we have a lot of potential in many areas which I

am sure the South African delegation will be interested in,” he added.

Zuma, whose delegation includes several cabinet ministers and

business leaders, received a 21-gun salute in Entebbe before going into a

one-on-one meeting with Ugandan President Yoweri Museveni.

South Africa has a relatively small indigenous oil and gas industry

but is exploring for more offshore and has several companies offering consulting

services in refining and processing.

Uganda does not yet produce oil but is believed to have a large

potential and giants such as France’s Total and China’s CNOOC are vying for a

share of the country’s existing oil fields.

Zuma, whose country is the world’s leading producer of gold and

platinum, was also expected to address members of Uganda’s National Chamber of

Minerals and Petroleum.

The South Africa leader was later scheduled to address the east

African nation’s parliament and is due to unveil the cornerstone of the Oliver

Tambo Leadership Institute tomorrow.

The school was named after one of Nelson Mandela’s late comrades to

honour 14 ANC anti-apartheid heroes who are buried in Uganda and in recognition

of Museveni’s historical support for the ANC.


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