At the Climate Change Conference (COP28) held in Dubai, United Arab Emirates (UAE), Uganda secured over $400 million in green investment commitments. These pledges, spanning the next four years, target vital sectors such as renewable energy, water filtration, and forestry. Mandulis Energy, Spouts International, 1MTN, and Nexus Green made these significant commitments during the green investment session hosted by the Uganda Investment Authority (UIA) at the Green Investment Room within the Uganda Pavilion. All four investors hold UIA licenses and are actively engaged in various stages of green project development and execution.
They shared insights and experiences with prospective investors and stakeholders, shedding light on Uganda’s investment landscape. Peter Nyeko, the co-founder of Mandulis Energy, highlighted their focus on developing renewable energy infrastructure. Their innovative technology converts agricultural waste into low-carbon electricity and biogas, intending to install 24 off-grid power systems across rural Uganda, serving over 120,000 farmers.
Daniel Yin, the CEO of Spouts International, emphasized their $10 million investment, with plans to infuse an additional $80 to $100 million in the next four years. Spouts is a leading manufacturer of ceramic water filters in Africa, aiming to reach six million households by 2030, providing affordable clean drinking water while preserving trees. Christian Raude, co-founder and CEO of 1MTN, outlined their investment of $1.5 million thus far, with a future commitment of $100 million. 1MTN focuses on nature-based carbon removal projects, aiming to restore one million hectares of degraded land by 2030 through bamboo planting, emphasizing environmental conservation and sustainable investment.
Rikki Verma, founder and CEO of Nexus Green, shared their substantial $100 million investment, supported by the United Kingdom Export Fund. Nexus Green specializes in manufacturing solar-powered solutions, employing 200 directly and over 1,000 indirectly, contributing to energy access for an estimated 458 million people in East and Central Africa. Verma also lauded the conducive investment environment in Uganda, citing the UIA’s role as a one-stop center for comprehensive investment and business support services, facilitating seamless investment ventures.