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Uganda : BARCLAYS GROUP sets to fund infrastructure projects in UGANDA

September 2, 2014

The Barclays group is aiming to fund some of the huge infrastructural projects in Uganda, because Africa continues to lure solutions to its infrastructure challenges.

During a meeting between the bank officials and Uganda s Minister of Finance, Maria Kiwanuka, this was revealed. Cases of projects that the bank funded in Kenya, Ghana, South Africa and Ethiopia were brought forth in order to present a compelling proposition.

According to Rajih Shah, head of Barclay s East Africa Investments, the services of the bank went beyond just financing projects. We are open to fund government projects. In Kenya, when they decided to issue a Eurobond, we were so much involved. We were their lead arrangers. Being involved does not mean just providing money only; we can do other things including advisory services.

Huge scopes existed for investors in the Eastern African region and the Barclays group desired to spearhead some of the biggest deals in the region, he further mentioned.

Minister Kiwanuka commented We need the money for the income generating activities ? power stations, ICT projects where there are income streams. We need the very best terms possible. Our role is to mobilize and maximize resources and allocate them efficiently.

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Source: TendersInfo (India)

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