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USD 400m Green Investment Commitments Announced for Uganda at COP28 :: Uganda Radionetwork
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USD 400m Green Investment Commitments Announced for Uganda at COP28

The green investment commitments, current and future, are for the next four years in the areas of renewable energy, water filtration and forestry.
COP3 - Green Investors making commitments to Uganda at COP28 in Dubai.
Over 400 million dollars in green investment commitments have been announced for Uganda at the climate change conference (COP28) in Dubai, United Arab Emirates (UAE). The green investment commitments, current and future, are for the next four years in the areas of renewable energy, water filtration and forestry.

The commitments, by Mandulis Energy, Spouts International, 1MTN and Nexus Green, were announced at the Uganda Investment Authority’s (UIA) green investment session at the Uganda Pavilion in Dubai. All four green investors are UIA-licensed and have commenced operations at different stages of green project development and execution.

Mandulis Energy develops renewable energy infrastructure using innovative technology that converts agricultural waste into low-carbon electricity and biogas for households and small businesses. The company is now developing over 24 off-grid power systems across rural Uganda to power agricultural processing facilities and serve over 120,000 farmers in low-income communities.

Spouts International, the largest manufacturer of ceramic water filters in Africa, produces Purifaaya, a ceramic water filter made from clay and other locally sourced materials. The company has invested over 10 million US Dollars and, in the next four years, will invest an additional 80 to 100 million US Dollars.

“We make sure that all people have access to safe clean drinking water for the lowest price possible, and this empowers communities and also saves trees from being burnt to boil water for drinking”, Daniel Yin, the Chief Executive Officer of the Company said.

The other investor 1MTN is a high-quality nature-based carbon removal project developer in Africa with a mission to restore one million hectares of degraded land by 2030 through the planting of polyculture native bamboo with an emphasis on biodiversity management.

“There is a lot of bamboo in Uganda and East Africa and not only does it make good investment sense but is also good for the environment and does not need too much water”, said Christian Raude, the co-founder and chief executive of 1MTN. He added that they have so far invested 1.5 million dollars and plan to invest another 100 million dollars in the next four years.

Nexus Green is a solar energy company that manufactures and supplies affordable solar-powered solutions designed for hundreds of millions of people (estimated at 458 million) in East and Central Africa without access to reliable energy.

Its founder and chief executive, Rikki Verma, said they have, with financing from the United Kingdom Export Fund, invested 100 million dollars in the factory and employ 200 people directly and over 1,000 people indirectly. Verma said investing in Uganda has been made easy through UIA's one-stop centre for key investment and business support services.

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