1. Home
  2. Stories
  3. Energy
  4. Investing

Dubai Businessman Maktoum awarded top national honour

Peter 10th Jun, 2024 Energy Business Edge Reporter
Dubai Businessman Maktoum awarded top national honour

Prince Mohammed Bin Maktoum bin Jumah al Maktoum


President Yoweri Museveni has conferred the country’s top honour, the Order of the Crested Crane 1st Class Medal, upon Sheikh Mohammed Bin Maktoum Bin Jumah Al Maktoum from the United Arab Emirates (UAE), in recognition of his exceptional contribution to Uganda’s socio-economic transformation.

The honour, which is conferred upon Ugandans and non-Ugandan citizens who have distinguished themselves in the areas of public and private leadership and service, was presented to Prince Maktoum, a member of the Dubai Royal Family, during the 35th Heroes’ Day celebrations in Gomba District yesterday.

His Highness Sheikh Mohammed bin Maktoum bin Juma Al Maktoum, whose personal net worth is said to be about $16 billion, heads the Alpha MBM Investments, an investment firm from the UAE, which was endorsed by the Government of Uganda to be the lead partner in the country’s $4 billion 60,000 barrel per day oil refinery project, in Hoima District.

  • The Dubai-based company is also investing heavily in other sectors including the restoration of Uganda Air Cargo, a fruit processing hub in Bukalasa, a gold refinery, among several others.

Prince Maktoum, who described Uganda as his second home and the people of Uganda as his second family, said he along with his business partners, have been looking for opportunities to establish impactful projects in Uganda that will add value to the Ugandan communities.

However, the oil refinery project stands out as the flagship project for which MBM Investments is to partner with the Uganda National Oil Company (UNOC) to develop in the coming months.

  • An MoU was signed last December between the government and Alpha MBM Investments LLC, outlining cooperation and negotiation terms for the Refinery Project. On January 16, 2024, negotiations of the key commercial agreements with Alpha MBM Investments commenced and once concluded, development works under the refinery project would commence.

According to the Ministry of Energy and Mineral Resources, at least three commercial agreements are being prepared for signing under the refinery project before the Final Investment Decision (FID) is undertaken.

The Uganda Refinery Holding Company, a subsidiary of the UNOC, is to hold a participating interest of up to 40% in the Refinery Company on behalf of UNOC and Government of Uganda.

As one of the world’s top producers of refined petroleum products, the United Arab Emirates (UAE) brings numerous benefits to Uganda’s fledgling oil industry.

The Middle East country is a significant player in the global oil market, with abundant reserves and advanced infrastructure for exploration, extraction, refining, and exportation of petroleum products.

  • The UAE is particularly famous for its production of high-grade petroleum products including gasoline (petrol), diesel, and jet fuel, which are suppliers to consumers around the world.

Similar Posts You May Like 

  • Simba Telecom and d.light Partner to Distribute Solar Products in Uganda

    Simba Telecom and d.light Partner to Distribute Solar Products in Uganda..

    Simba Telecom Uganda, a leading telecommunications company, and d.light, a global leader in solar-powered solutions, have signed a partnership agreement to distribute solar solutions across Uganda. Under the partnership, Simba Telecom Uganda will expand its product offerings to include d.light's ..

  • Uganda targets $4 billion in green investment deals at COP28 in Dubai

    Uganda targets $4 billion in green investment deals at COP28 in Dubai..

    The Uganda Investment Authority (UIA) is participating in the 28th Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change with an ambitious target of clinching four billion dollars in green investment deals...

  • Dubai COP28 endorses new declaration, but with no crude oil exit plan

    Dubai COP28 endorses new declaration, but with no crude oil exit plan..

    A new draft for the final declaration of the UN Climate Change Conference in Dubai does not include the clear phase-out of coal, oil and gas demanded by many countries...

  • Excitement as Nigeria's Dangote refinery starts production

    Excitement as Nigeria's Dangote refinery starts production..

    The Dangote Oil Refinery, the largest on the continent at 650,000 barrels per day (bpd), has begun producing diesel and aviation fuel, the company said on January 13. ..

  • PSFU, Dutch launch UGX14 bn renewable energy project

    PSFU, Dutch launch UGX14 bn renewable energy project..

    The Private Sector Foundation Uganda (PSFU) in partnership with the Netherlands Directorate General for International Cooperation (DGIS) have launched a renewable energy project worth 3.4 million Euros (about UGX14 billion), aimed at on increasing access to solar and clean cooking technologies in 13..

  • Relief as UNOC finally secures Kenyan oil import licence

    Relief as UNOC finally secures Kenyan oil import licence..

    The Uganda National Oil Company (UNOC) will effective next month start importing petroleum products through Kenya following the end of a bitter dispute between the two regional partners over direct oil imports through the Kenyan port of Mombasa...

  • Shell launches engine oil campaign for motorcycles

    Shell launches engine oil campaign for motorcycles..

    Shell Uganda has launched a new campaign to promote the use of Shell Advance AX5, a new premium quality 4-stroke motorcycle engine oil, which helps to clean and protect the engine by preventing the build-up of deposits and maintaining engine cleanliness. ..

  • Uganda getting set for 24,000 megawatts nuclear plant

    Uganda getting set for 24,000 megawatts nuclear plant ..

    Uganda's uranium exploration is gaining momentum to meet global energy demands, with plans for a 24,000MW nuclear power station by 2040, Irene Batebe, the permanent secretary for the ministry of Energy and Minerals Development, has said. ..

  • Goverment defends new Atomic Energy Bill

    Goverment defends new Atomic Energy Bill ..

    Environmental activists have put the Government on the defensive over the new Bill that it has drafted to replace the Atomic Energy Act of 2008...

  • Spiro unveils UGX3.8 million electric motorcycle

    Spiro unveils UGX3.8 million electric motorcycle..

    Spiro, a leading electric motorbike manufacturer and clean energy provider in Africa, has launched its electric motorcycles on the Ugandan market. ..

  • Global electricity demand set to soar in 2024/2025

    Global electricity demand set to soar in 2024/2025 ..

    The world’s demand for electricity is rising at its fastest rate in years, driven by robust economic growth, intense heatwaves, and increasing uptake of technologies that run on electricity such as Electric vehicles and heat pumps. Despite the enduring impacts of the global energy crisis, growth i..

  • TotalEnergies acquires stake in Bujagali Power Dam

    TotalEnergies acquires stake in Bujagali Power Dam..

    French energy giant TotalEnergies has signed an agreement with Scatec, a Norwegian renewable energy company, to acquire 100% of its subsidiary, SN Power...

  • Uganda, Kenya moot petrol pipeline plan revival

    Uganda, Kenya moot petrol pipeline plan revival..

    Regional counterparts Uganda and Kenya are set to revive a long-standing plan to construct a pipeline that will enhance the transportation of fuel between the two countries. The project, initially proposed in 1995, aims to establish a pipeline from Eldoret in western Kenya to Kampala in Uganda, with..

  • West Nile gets first National Grid connection

    West Nile gets first National Grid connection..

    The recent inauguration of the Kole-Gulu-Nebbi-Arua Transmission line by President Yoweri Kaguta Museveni marks a pivotal moment for the West Nile sub-region. This 132KV power line, worth a total investment of USD100 million (UGX 370 billion), connects the region to the national power grid for the f..

  • UK unveils UGX24 billion clean cooking initiative

    UK unveils UGX24 billion clean cooking initiative..

    The United Kingdom has launched an initiative aimed at revolutionizing Uganda’s cooking practices as part of an ambitious effort to transition 65% of Uganda’s population to cleaner cooking methods by 2030. ..

  • Uganda, 15 countries set for electricity trade

    Uganda, 15 countries set for electricity trade ..

    The Eastern Africa Power Pool (EAPP), an intergovernmental organization that was established to promote and coordinate the development of a regional power grid interconnection and cross-border electricity trade in Eastern Africa, is set to operationalize a competitive regional power market next year..

Most Recent

Popular Links