The Rt. Hon Prime Minister, Dr. Ruhakana Rugunda officiated the ground breaking ceremony of the construction of the Uganda Business Facilitation Centre (UBFC) in Kololo. This project is funded by the World Bank and coordinated by Competitiveness and Enterprise Development Project (CEDP). It is expected to be completed in 18 months and will house Uganda Investment Authority, Uganda Registration Services Bureau and Capital Markets Authority, government agencies that provide a service to investors and the business community in Uganda. “This event marks an important milestone towards Uganda’s 2040 vision of formulating and implementing some policies that would create opportunities for the growth of the private sector,” said Rugunda.
The World Bank Representative, Sheila Kulubya who represented Christina Malberg, The World Bank Country Manager said that The World Bank partners with the government of Uganda to promote equitable and sustainable economic growth with the overall mission of eradicating poverty and promoting prosperity. The Bank provided credit worth 100M USD to the government of Uganda to implement the CEDP project to enhance Uganda’s trade and business competitiveness by supporting reforms that improve the business environment.
Prof. George Piwang-Jalobo on behalf of the UIA Board chairman Mr. Emely Kugonza informed those in attendance that UIA is the womb of this project that was conceptualized in 2013.
In attendance were Hon. Gabriel Ajedra (State Minister of Finance in charge of General Duties), Hon. Evelyn Anite (State Minister of Finance for Investment and Privatization), and Mr. Patrick Bitature (PSFU Board Chairman), Mrs. Jolly Kaguhangire (Executive Director, UIA) Mr. Keith Kalyegira (Executive Director, CMA) among others.
About the project
The project is located on Plot 1 Baskerville Avenue, Kololo measuring over half an acre and on leasehold of 95 years and 6 months. It has a total floor area of 19,800 square metres with 3 main components. (The Basement, the podium and the office tower). This building will be constructed using 60% local content.