Inside Uganda’s $4bn refinery deal with UAE investor
From left: UAE based company Alpha MBM Investments LLC CEO Sheikh Mohammed bin Maktoum bin Juma al Maktoum, Uganda's President Yoweri Museveni and Uganda's Energy Minister Ruth Nankabirwa pose for a picture after the signing ceremony of oil refinery implementation agreement in Kampala, Uganda on March 29, 2025.
After failed attempts that took Uganda around the globe in search of a partner for its $4 billion refinery, the country finally landed an investor in the United Arab Emirates (UAE), leading to the signing last weekend, of a historic deal between the government and Dubai-based Alpha MBM Investments Llc, whose subsidiary which will finance, design, develop and operate the 60,000 barrels-per-day facility.
The refinery is a greenfield investment expected to contribute 9 percent of Uganda’s GDP, once it comes onstream.
