- Government has a strategy to substitute imports with locally made products
- Alinyikira Eco Investments celebrated 8 years since inception
- Company asked government to get them machines to increase production
Local Manufacturing companies can now breathe a sigh of relief after Government announced that electricity cost will be reduced to 5 cents per unit.
The state minister of Finance for planning David Bahati noted that this is In a bid to increase production levels to ensure that there is import substitution and increase export of Ugandan products.
He made the remarks during celebrations to mark Eight years of Alinyikira Eco Investment company makers of Kyogero cosmetic herbal products on the Ugandan market.
According to minister Bahati, the NRM government strategy is to substitute imports with Ugandan products and to promote export of the locally produced goods abroad.
“We want everything that we are using here to be produced here in Uganda. You can imagine we were importing these products from other countries. Everything must be produced here, because we have the capacity to do that” said minister Bahati.
The minister also revealed that government has capitalized Uganda Development Bank-UDB by 400 billion Uganda shillings. He encouraged the founders of Alinyikira Eco Investments Ltd to apply for a loan in the bank to enable them buy the machines to improve the factory’s production levels.
“We have also put in a fund for small medium enterprises. We have capitalized UDB by 400 billion. I want to encourage you Salongo ne Nalongo nti esente weziri mu UDB,zebasse otulo, mugende muzikime mukole” minister Bahati said.
The proprietor of Alinyikira Eco Investments Ltd, Ssalongo Alinyikira George Mawanda asked government to help him buy for them the machines much needed to increase production capacity.
Ssalongo Alinyikira advised Ugandans not to fear starting up business, adding that the failure to start has left many people in poverty and is partly to blame for the increasing unemployment in the country.
The former Katikiro of Buganda Owek. Engineer J.B Walusimbi reiterated the need for government to support SME’s like Alinyikira Eco Investments by providing machines to ensure that there is high production and in a way fulfil its strategy of import substitution.
The operations manager Brian Walugembe told the minister that one of the challenge they face as company is the high cost of production due to the high cost of raw materials. He appealed to the minster to reduce taxes on the raw materials wax and oils used in production of cosmetics.
At the same event the new Kyogero vitamin jelly , Kyogero Vitmin E soap, Kyogero Coca butter soap and Kyogero Aloe ver were unveiled.