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UDC : Facilitating the Development of a US$ 1 Billion+ Strategic Plan

Summary

Client: Uganda Development Corporation (UDC)

Executor: Asigma Advisory

 

The Uganda Development Corporation (UDC) is a body corporate re-established under the Uganda Development Corporation Act 2016 with the primary objective of promoting and facilitating industrial and economic development of Uganda. This mandate is to undertake strategic and sustainable investments for the social and economic transformation of Uganda. UDC, the investment arm of the Government of Uganda sought to develop a 10-Year Strategic Plan to reposition itself to deliver against its mandate. This Strategic Plan, with a budget of over US$ 1 Billion will be able to roll out investments in the agro-manufacturing, minerals beneficiation and other strategic sectors.

The Asigma Advisory Team were co-opted on the Board Committee constituted to review and finalize the Strategic Plan.

Objective

  1. Fund Structuring: Devised a multiple-fund investment fund structure that would support the achievement of their broad mandate and diversify their financing options away from the primary financier – the Government.
  2. Financing Options: Aligned the multiple funds to potential financing sources that match the funds’ mandate. Sources include Multilateral Development Banks (MDBs) and Export-Import Banks (EXIMs), Development Finance Institutions (DFIs), Grants and Impact Investors, bond issuances through Uganda Securities Exchange, Dividends, Interest re-investments and Subsidiary divestitures.
  3. Development and Costing of 10-year Implementation Plan:  This also included the development of a monitoring and evaluation framework and corresponding budgets.

Outcome

  1. Strategic Plan: Produced through the facilitation of guided sessions with the constituted Committee that had complementary expertise in trade, economics and regulatory aspects. The plan was launched by the President of the Republic of Uganda.
  2. Financing Paper: A special paper was prepared that listed all potential MDBs, DFIs and impact investors, a financing timeline as well as a composition of financing requirements over the ten years.