Share this article

President Museveni’s meeting with Stabex International was a productive one as they discussed about potential investment opportunities and the company’s plans for manufacturing, agriculture, and energy hence promising for Uganda’s development. The President’s support for these initiatives and the positive business climate in the country are certainly contributing factors.

Yesterday, August 17, 2023, at State House-Entebbe, President Yoweri Kaguta Museveni met with a group from Stabex International led by their Executive Director, Mr. Jack Chebet.

With an unbroken dedication to innovation and environmentally friendly marketing, Stabex International is one of the innovative and progressive organizations that is reshaping the fuel and gas business in Uganda and the rest of Africa. President Museveni and Stabex International representatives talked about potential investment opportunities outside of the oil and gas industry. To add value to Uganda’s raw materials, President Museveni inspired the corporation to engage in the manufacturing and processing industries.

“The Wananchi are the out-growers but if you want to be involved in the dairy processing, then we can try to get you some land to set up a core demonstration farm. Start with the processing, then you work backwards because Ugandans do a lot of farming themselves. That is a better way to factor in out-growers,” President Museveni told the officials who expressed interest in investing in Uganda’s agricultural sector.

Mr. Chebet informed the President that Stabex International offers a special investment opportunity that ensures value in Uganda and outside while promising significant development possibilities.

“Your Excellency, Stabex International is a Pan-African company whose regional headquarters are in Nairobi, Kenya, but we are thinking that as soon as possible when we start producing our oil in Hoima, our headquarters might move here so that we are able to distribute to a larger East and Central Africa from here,” he said.

“Here in Uganda, we have a significant regional presence. We are everywhere in Uganda. We did this to increase pricing stability and the consistency with which petroleum goods reach all areas of Uganda. Over 100 stations are located all over Uganda.”

In addition, Mr. Chebet said that over the past ten years, the company has invested more than $100 million in Uganda, and over the next 18 months, it would invest an additional $40 million in a variety of initiatives there. He also disclosed to the President their plans to build a cylinder manufacturing facility in Uganda.

“We want to set up a cylinder manufacturing plant to promote import substitution and create employment opportunities for Ugandans. If we can be given space in one of the Industrial parks and we set up this plant, we shall really appreciate it. We also want to put up a plant for lubricants when the oil refineries are up and running. This will help to save a lot of foreign exchange. We are ready to invest in that space,” Mr. Chebet noted.

He also let the President know that they are thinking about making investments in large-scale agricultural product production.

“We have participated in numerous farm projects for more than ten years, and we have the capacity and industry knowledge to do so. In order to start a project in a bigger scale, we need your help.”

On the other hand, Mr. Chebet commended the President for the nation’s stability and favorable business climate, which under his innovative and energizing leadership have allowed organizations like Stabex to make significant strides.

President Museveni welcomed the concept of establishing a cylinder manufacturing facility in Uganda before appointing Vice President H.E. Jessica Alupo to provide the company with the required help to ensure that they realise their goal.

“Don’t worry about the expense of the electricity. To reduce operating costs, we are lowering it to 5 cents for manufacturing,” according to President Museveni.