Uganda Inks Refinery Deal with UAE's Alpha MBM
Deal News | Mar 31, 2025 | Zawya
Uganda has finalized an agreement with UAE-based Alpha MBM Investments for a 60% stake in the country's new crude oil refinery, to be located in Kabaale, Hoima District. The agreement highlights Uganda's efforts to bolster its hydrocarbons industry, with the state-run Uganda National Oil Company retaining a 40% share in the 60,000-barrel-per-day facility. Alpha MBM Investments, led by Dubai's Sheikh Mohammed bin Maktoum, underscores international interests in Uganda's energy expansion. In addition to the refinery deal, several other bilateral agreements were signed between Uganda and UAE investors. The Ugandan government views the refinery as pivotal to its energy strategy, with negotiations having begun earlier this year and key terms anticipated to conclude within three months.
Sectors
- Energy
- Investment
Geography
- Uganda – The location of the oil refinery project and the principal subject of the investment agreement.
- United Arab Emirates – Home to Alpha MBM Investments, the firm that committed to a 60% stake in the Ugandan oil refinery.
Industry
- Energy – The article revolves around a deal concerning the development of an oil refinery, a major component of the energy industry.
- Investment – Alpha MBM Investments' involvement highlights its investment role in Uganda's refinery project.
Financials
- $4 billion – The estimated investment for the planned oil refinery.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Alpha MBM Investments | Investor | Company | A UAE-based investment firm led by Sheikh Mohammed bin Maktoum, involved in the Ugandan oil refinery project. |
| Uganda National Oil Company | Stakeholder | Company | The state-run oil company of Uganda, retaining a 40% stake in the refinery. |
| President Yoweri Museveni | Government Official | People | The President of Uganda, under whose office the agreement statement was released. |
| Sheikh Mohammed bin Maktoum | Leader of Investment Firm | People | Member of Dubai's royal family and figurehead of Alpha MBM Investments. |
| Ruth Nankabirwa | Minister of Energy and Mineral Development | People | Uganda's energy minister who led discussions for the refinery's development. |