Uganda government on Tuesday continued to be a laughing stock as it after alot of bashing from the nationals on how it handled the Dubai expo 2020 decided to boast it had signed it’s first agreement with an agricultural corporation that would invest lots of cash in Uganda.
However it emerged shortly after the Uganda investments authority tweeted a “breakthrough” that the company, Modha Investments Limited was indeed register under the UK Companies House but was dormant since registration on June 1, 2021.
Ugandan officials after the signing with Modha Investments Limited
Modha is registered with a share capital of 100 pound Sterling, manned by one director. It is registered under number 12637521 located at Salisbury Walk in London.
The Uganda Investment authority ((UIA) acclaimed Modha as a super class Investment company that will add value to Uganda agricultural sector with specific interest in food processing, commercialisation of cashews, macadamia nuts and avocado.
“The first of the Uganda Investment deals is signed with Modha at the expo 2020. Modha is a global financing conglomerate investing in commercial agriculture,” a tweet from the UIA stated.
Modha is however not the first brief case to be brought by con government officials.
On May 25, Newsday reported that the Joint Stock Company Global Security that was awarded a 10-year contract to install digital monitoring system in all motorcycles and vehicles in Uganda but emerging from Moscow was fighting for survival due to heavy debt and a bankruptcy suit. Until today, government is pushing it retains the contract.
Ugandans ridiculed the items showcased in the expo which were substandard to compete on international market.