Uganda, a country scarred by the memory of civil unrest, is now on the road to recovery, and has set itself the target of reaching middle-income status by 2020. One businesswoman who is at the helm of the country’s drive for development is Amina Hersi Moghe, from Khadhar Investment, who has been referred to as ‘the woman who changed urban Uganda’. The New Economy speaks to the entrepreneur to discuss Uganda’s economic situation, how Khadhar Investment intends to grow, and what the company is doing to support women.

The New Economy: Amina, Uganda has been fraught with turmoil so what would you say the economic situation on the ground is today?

Amina Hersi Moghe: We now have 28 years of NRM government, which has brought peace and stability. This has also attracted so many investments in the country, that people are doing business without any problems.

Even people who had left the country a long time ago have returned and are spear-heading developments

Even people who had left the country a long time ago have returned and are spear-heading developments to build the country back up.

The New Economy: What development challenges does the country still face, and how are these being addressed?

Amina Hersi Moghe: Social health is a problem, as is education and the infrastructure. The good thing is that it these elements are also being worked on by the government, who has already done a lot, but they are still now striving to do better, so this will be better for investments also.

The New Economy: You are known as the woman who changed urban Uganda; now that is quite a statement, what would you say your key contributions to the country were?

Amina Hersi Moghe: The big achievement is that I left Kenya in 1998 and started my cement distribution and transportation business. I was supported a lot by the people of Uganda who were my customers.

That has also helped me to go into other ventures when the opportunities have arisen, including the Oasis shopping mall and the luxury apartments that I have bought within the country.

The New Economy: How are businesswomen viewed in Uganda?

Amina Hersi Moghe: Because young girls in Uganda do not receive much education, they do not get involved with business. Therefore this is first of all, the biggest challenge.

The other issue is that women have difficulty getting financial credit. African women do not usually have financial securities for themselves; houses for example will be in the name of the husband. So those are challenges.

The New Economy: Have you personally experienced any issues during your career as an entrepreneur?

Amina Hersi Moghe: I faced challenges when I went to the financial institutions for funding: they thought that I couldn’t handle a large amount of money. I was so ambitious, I wanted to do two large projects, but the financial institutions felt I should do one to begin with and if that was successful, then embark on another. I think this is one of the main challenges for women, that people do not take us seriously.

I think this is one of the main challenges for women, that people do not take us seriously

The New Economy: How do you support women through your work?

Amina Hersi Moghe: I have a sugar production project, which involves working with Ugandan women through Entrepreneur Association Ltd. We identified around 600 women who are entrepreneurs from the north of Uganda, an area that has experienced a lot of civil war.

Those women now work with me, whereby I have given them part of my land, which will be as part of a case study. Rather than being in poverty, the women can empower themselves and increase their living standards.

I have placed 200 women for each 1,000 acres and I now provide the women with a credit facility, for them to have a start up.

The New Economy: How do you see Uganda developing in the future and how will Khadhar Investment be involved in this?

Amina Hersi Moghe: Now we can talk about the stability and the peace that the country does have. We are on the right path because of the president’s commitment to see that more investments are being brought to the country.

Once we have citizens who are healthy, skilled and educated, they will be able to move the economy. Also, investors will have people who are able to work for them, and this will attract more investors from abroad.

I have already done a lot of cover investments; I think I will be one of the people who will be championing these, showing that the country is very stable. We will be at the forefront, and later people will also see that we are serious and they will come on board.

The New Economy: Analysts have said that there is a lot of unexploited potential in Uganda, so where would you say the investment opportunities lie? 

Amina Hersi Moghe: Tourism. We also have oil; a production licence has already been given. So there will be a lot of opportunities whereby many hotels are needed, there will be more schools needed, as the oil industry brings a lot of other services and requirements for the area. We also have minerals in the country.

The New Economy: Finally, considering Uganda’s past with civil unrest, how safe is the country now for investments?

Amina Hersi Moghe: It is on the right track with peace and stability. The country is liberalised. You can get any foreign exchange that you like, so you can see that the country has potential and we are also very flexible.

The New Economy: Amina, thank you.

Amina Hersi Moghe: Thank you.