OPIC President and CEO Highlights U.S. Investments in Uganda

July 21, 2018

(OPIC) KAMPALA, Uganda - Overseas Private Investment Corporation (OPIC) President and Chief Executive Officer Ray W. Washburne today visited Uganda where he met with Prime Minister Ruhakana Rugunda and Minister of Finance Matia Kasaija to discuss investment opportunities to advance development in the country, and visited OPIC-supported projects. Uganda is the fifth stop on a six-country trip to promote U.S. investment in Sub Saharan Africa, strengthen partnerships, and identify opportunities to work with regional allies on projects that drive economic growth and stability throughout the region.

Among the projects visited was the telecommunications company Africell will use OPIC financing to expand mobile networks in The Gambia, Sierra Leone, Uganda and Democratic Republic of the Congo. This project is helping catalyze economic growth and advance OPIC’s efforts to further connect Africa to the global market and supports the mission of OPIC’s new Connect Africa investment initiative.

“Africa leads the world in mobile adoption, which continues to offer opportunities across a range of sectors,” said Washburne. “Supporting investments in technology not only increases connectivity, but also critical economic opportunity and growth.”

Washburne is traveling to Africa to explore investment opportunities and to highlight OPIC's new Connect Africa initiative to invest more than $1 billion in transportation, technology and value chains on the continent. The trip has also included visits to Zambia, Rwanda, South Africa, and Botswana. From Uganda, Mr. Washburne will travel to Kenya to meet with senior government officials and visit OPIC supported projects.

Africa is a longstanding priority for OPIC and accounts for about one-quarter of the agency's $23 billion global portfolio.

As part of his National Security Strategy, President Trump highlighted the need for a modernized approach by the U.S. government to development finance to help grow aspiring partners, promote economic relationships, and increase investment in regions important to American interests.

Learn more about OPIC's Connect Africa Initiative

banner1

Welcome to the Exporting Source

Your one-stop resource for finding help to export to new customers, to learn about government export programs, to join export-promoting trade missions, to sign up for trade conferences and training, and to link to other exporting services. Whether you're an old hand at exporting or just getting started, the Exporting Source provides a place to locate foreign customers, export financing and foreign investment assistance.

The Export Practitioner
 

Providing readers with expert reports on changes to U.S. export licensing rules, enforcement policies and regulations for defense and dual-use products and technology.

Washington Tariff & Trade Letter

Providing exclusive, behind-the-scenes news and analysis every week of U.S. trade policies, regulations and legislation, export controls, trade sanctions, and enforcement of antidumping and countervailing duty laws.

Mastering Deemed Exports
 

An invaluable video training tool that helps exporters, universities and research laboratories alert all employees to the potential fines and legal sanctions that can come from violating EAR and ITAR restrictions on giving certain foreign nationals access to controlled U.S. technology.