President Yoweri Kaguta Museveni today welcomed a delegation of investors from Lyca Mobile Telephone Company during their courtesy visit to State House Entebbe. Led by the Chairman of the company, Mr. Subaskaran Allirajah, the delegation included the Minister of Information and Communications Technology (ICT) and National Guidance, Dr. Chris Baryomunsi, and the Executive Director of Uganda Investment Authority (UIA), Ms. Jolly Kaguhangire.
Lyca Mobile is a well-known telecommunications company with a global presence, and their interest in investing in Uganda is a positive sign for the country’s economy. During the meeting, President Museveni expressed his appreciation for the company’s willingness to partner with Uganda in developing the telecommunications sector.
The Chairman of Lyca Mobile, Mr. Subaskaran Allirajah, highlighted the company’s commitment to providing affordable and reliable mobile services to the people of Uganda. He also mentioned their interest in exploring opportunities for expanding their operations in the country.
Dr. Chris Baryomunsi, the Minister of ICT and National Guidance, emphasized the government’s support for foreign investments that contribute to the growth of the telecommunications industry in Uganda. He reiterated that the government is committed to creating a conducive environment for businesses to thrive and create job opportunities for the youth.
Ms. Jolly Kaguhangire, the Executive Director of UIA, assured the delegation of the government’s willingness to facilitate the necessary processes for their investment in Uganda. She highlighted the various investment incentives and opportunities available in the country, encouraging the investors to take advantage of them.
Overall, the meeting between President Museveni and the delegation from Lyca Mobile is a positive development for Uganda’s telecommunications sector. The partnership between the government and the company is expected to result in improved mobile services for Ugandans and create more job opportunities in the industry.
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How this will affect me:
As a consumer in Uganda, the investment by Lyca Mobile in the telecommunications sector could lead to better and more affordable mobile services. With increased competition in the industry, I may have access to a wider range of services and improved connectivity. This investment could also stimulate economic growth and create more job opportunities in the country, which would benefit me and my community.
How this will affect the world:
Lyca Mobile’s decision to invest in Uganda not only benefits the country but also has implications for the global telecommunications industry. It showcases Uganda as a viable destination for foreign investments and demonstrates the potential for growth in emerging markets. This investment could pave the way for more international companies to consider investing in Uganda and other African countries, ultimately contributing to the development of the global telecommunications network.
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In conclusion, President Museveni’s hosting of the delegation from Lyca Mobile is a step towards enhancing Uganda’s telecommunications sector and fostering economic growth. The collaboration between the government and the company signifies a mutual commitment to improving mobile services and creating opportunities for the people of Uganda. This investment has the potential to yield positive outcomes for both the country and the global telecommunications industry.
