Lira—28, August 2020: Two years ago today, Ngetta Tropical Holdings Limited (NTH) launched its first product, the Virgin Gold Cooking Oil in Lira Municipality.
In that event, hundreds of residents, including guests from other parts of the country, graced it.
Two years later, Mr Paul Omara—the CEO of NTH had this to say:
“Today in history 2018, Virgin Gold was launched in Lira presided over by the State Minister of Cooperatives. A number of MPs and local district leaders were in attendance. We thank you for patronising the products over these years. We are now going to make a step change in technology and taking manufacturing to another level. Truly on the path of building a strategic home base industry for the local economy, creating jobs for our youthful population.”
Nearly a year ago, Mr Omara Paul, while addressing a retreat for the Directors and Commissioners of the Ministry of Agriculture, Animal Husbandry and Fisheries as a guest speaker at Bravod Hotel in Masaka implored government to inject more money in Uganda Development Bank [UDB].
Mr Omara, at that time, said UDB is where the private sector could have access to affordable credit in order to accelerate meaningful economic growth.
“…..100 billion recapitalization of UDB is a drop in the ocean and will not be “sufficient for the long term affordable money needed by the private sector,” he added.
The NTH Chief also provided a detailed information with robust data “why oil seeds have become a major strategic crop for Northern Uganda”.