Egyptians Eye Uganda Drugs Sector

Raafat Sakr Group from Alexandria in Egypt, are interested in investing in Uganda’s pharmaceutical industry and the education sector (technical training).

A delegation of five was in Kampala last week, led by Ambassador Raafat Mohamed Sakr, Chairman Raafat Sakr Group and accompanied by Uganda’s Ambassador to Egypt, Richard Laus Angualia, who is also the Honorary Consul designate of Alexandria.

They met with Uganda Investment Authority Executive Director Eng. Dr. Frank Ssebbowa.

“Our target is to manufacture drugs to supply the regional market from Uganda,” Sakr said.

According to a feasibility study, Sakr Group has carried out regarding the viability of a pharmaceutical plant, they will be able to produce affordable medications considering the market prices.

However, they have a concern of exploring Uganda’s cost of doing business and incentive regime to establish concretely the viability of their investment plan.

The delegation also included Eng. Mohamed Abdon, Chairman of Kempetro, a Chemical Industries firm with expertise in pharmaceuticals and cosmetics.

Raafat Sakr Group, a prominent business giant in Egypt is also exploring for opportunities in Uganda’s tourism, agriculture, construction, and real estate development, transport works, shipping chemical industry.

Ambassador Sakr, said the Group was keen to establish a state of the art pharmaceutical production facility rated ‘A’ internationally to produce varied human medications.

Eng. Sebbowa welcomed the Group and thanked Ambassador Angualia for his efforts at attracting investment to Uganda.

He assured them of government’s willingness to support all investment and appreciated Egyptian expertise in Uganda’s priority sectors like tourism and mineral beneficiation.

Sebbowa explained the investment process – what it takes to set up an investment in Uganda and was pleased to note that the delegation had scheduled meetings with the regulating entities of pharmaceuticals and Education in order to be apprised of the licenses permits and criteria applicable to invest in those areas.

Sebbowa informed the visiting delegation that he was aware of a group of Egyptian mineral experts in the country offering their services to a private company in adding value to minerals.

He encouraged the delegation to look into mineral beneficiation as a viable investment option among their many business interests. The Investment Promotion Division at the UIA will continue to follow up with the company after their meetings.

Source : East African Business Week

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