Video: Remarks by Lord Mohammed Sheikh is a life member of the House of Lords and a businessman
Lord Mohammed Sheikh is a life member of the House of Lords and a businessman. Lord Sheikh was born in Kenya but grew up in Mbale-Uganda. Lord Sheikh has excelled in business and politics in the UK and was recently awarded a doctorate due to his humanitarian work. His main emphasis in the House of Lords and at the Convention was the importance of the United Kingdom building its bilateral trade with the African continent. He disclosed that Uganda is regarded and should be one of UK’s most important bilateral trade partners in the future. Uganda provides an enormous wealth of diverse economic opportunity, a growing market of more than 38 million people, estimated to increase to 47 million in the next ten years. He commended the government for the economic growth and for maintaining an average GDP growth of 6.5 in the last twenty years, not to mention that it is among the 10 fastest growing economies in Africa. Lord Sheikh adamantly believes that Uganda soon will be joining the 7% club of countries that are achieving an economic growth of 7%. He commended the President for bringing peace and stability to Uganda and the region which is the basis of investors to a country. He cited that UK should concentrate more on trade rather than aid, nevertheless aid and trade must go forward simultaneously.
He repeatedly stressed on the seriousness of corruption, a scourge that needs to be dealt with. He was happy to note that the Uganda government is firm on dealing with corruption.
It also must be noted that UK has the largest number of Ugandan Diaspora in Europe. He encouraged Diasporas to get more involved in business in Uganda while keeping their foothold and connection in the UK. He finally said that Uganda hasn’t lost its luster and that Uganda, as the pearl of Africa, is getting shinier and shinier!