Four International companies on Wednesday, December 6 committed to invest $400 million (about Ush1.5 trillion) in different energy projects in Uganda.

This was after Mandulis Energy, Spouts International, 1MTN and Nexus Green made the commitment during the ongoing COP28 in Dubai.

The companies have explained that the investments will be implemented in the next four years. 

Meanwhile, Uganda Investment Authority (UIA) acting deputy director for communications David Rupiny has confirmed that all the four international investors are already licenced to operate in Uganda.

“The green investors provided testimonies to an audience of prospective investors and other actors regarding their status of investments, experiences and investment environment in Uganda,” said Rupiny.

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At the same time, co-founder of Mandulis Energy Peter Nyeko disclosed that their company deals with converting Agricultural wastes into electricity and biogas for households. 

Nyeko added that the company was currently developing 24 off grid power systems in Uganda which shall be increased to 2MW.

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On the other hand Spouts International CEO Daniel Yin disclosed that they are planning to invest up to $100 million in Uganda, in addition to the $10 million they have already invested in the country.

“We make sure that all people have access to safe, clean drinking water at the lowest price possible,” said Yin.

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Spouts International is known for making ceramic water filters (purifaaya) made from clay.  The company is aiming to increase its current reach of 200,000 households to 6 million households in 2030.

Still on the same, co-founder of 1MTN Christian Raude said they have already invested $1.5 million in Uganda but they intend to invest additional $100 million in the next 4 years.