President receives Chief Executive of Barclays Bank (Africa)

Wednesday 14th March 2012

Receiving Barklays Bank Chief Executive Barkleys PLC Robert Diamond Jr-looking oReceiving Barklays Bank Chief Executive Barkleys PLC Robert Diamond Jr-looking on is Chieft Executive Barkleys Africa David Skellin

President Yoweri Museveni has received the Chief Executive of Barclays Bank (Africa), Mr. Sikellin David who expressed the Bank’s interest to investing in Uganda.

During the meeting that took place yesterday at State House, Entebbe, President Museveni welcomed Mr. Sikellin to Uganda and urged Barclays Bank Chief Executive to explore ways and means of investing in the agro-processing sector in the country.

"That is where there is a gap. There is a lot of potential in Africa. For the case of Uganda, the economy is growing despite inadequate electricity. But since that problem is being solved, our economic growth rate will go beyond 11%", the President assured his guest.

President Museveni receives Barclays Bank Uganda MD Charles OngwaePresident Museveni receiving Barclays Bank Uganda MD Charles Ongwae - looking on is Chief Executive Barclays Africa David Skellin

The President further told his guest that Uganda’s current impressive growth rate is only in non-manufacturing sectors like housing. He urged the Chief Executive of the 320-year old banking institution which operates in 50 countries world-wide, that the bank should invest more in Uganda’s agro-processing sector, textiles manufacturing and roasting of coffee that he said would not only add value to the products but also secure employment opportunities to more Ugandans.

Security Minister Mr. Muruli Mukasa, State Minister for Planning Mr. Matia Kasaija and Managing Director of Barclays Bank (Uganda), Mr. Charles Ongwae, attended the meeting.

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