Inqo Investments Limited US$4m investment in conservation project in Uganda (7041L)
January 05 2023 - 1:00AM
UK Regulatory
TIDMINQO
RNS Number : 7041L
Inqo Investments Limited
05 January 2023
Inqo Investments Limited
US$4m investment in Conservation and Rural Enterprise (CARE)
project in Ugandan national park
Inqo Investments Limited (INQO) announces a collaboration with
Belmont University, Nashville on its Conservation and Rural
Enterprises (CARE) Project with the aim of using enterprise to
tackle environmental and social issues around the Budongo Forest in
Uganda. Through a $4 million US dollar grant, the CARE project will
invest in small and medium size enterprises (SME) in and around
Budongo Forest over the next three years.
The 825 km(2) Budongo Forest is home to more than 600
chimpanzees, classified as endangered by the International Union
for Conservation of Nature and Natural Resources (IUCN), as well as
a wide range of other flora and fauna. The forest is part of the
Murchison Falls National Park Conservation Area which is the
largest protected area in Uganda covering 3,840 km(2) and a key
area for the country's biodiversity conservation.
Budongo Forest faces several threats including illegal bush meat
poaching, deforestation for charcoal production and increasing
population pressure around the forest fringes. The CARE project is
designed around the belief that social and environmental issues are
interrelated and that poverty is the main cause of deforestation in
this region.
By working with communities in and around the Budongo Forest to
build scalable and sustainable SMEs, the CARE project aims to
create jobs and increase livelihood in the community and to provide
alternative employment to activities such as bushmeat poaching and
charcoal production. Examples of enterprises currently being
explored include an eco-lodge, sustainable agriculture,
agri-processing and solar induction cook stove assembly plant.
The project will be managed by Inqo Investments Ltd., one of the
pioneers in the socio-environmental impact investment space having
founded the Kuzuko Private Game Reserve in South Africa with the
expressed aim of creating jobs in an area of over 70%
unemployment.
Enquiries
Inqo Investments Limited Tel: +44 7768 613346
Dr Kim Tan, Chairman Email: kimtan2@springhilluk.com
Hobart Capital Markets LLP
AQSE Corporate Adviser and Broker Tel: +44 (0)20 7070 5665
Dr Wang Chong Email: wang.chong@hobartcapital.com
About Inqo Investments Limited
'INQO' (www.inqo.co.za) is a South Africa-based social impact
company listed on the London Aquis Stock Exchange Growth Market. It
makes strategic acquisitions and investments in businesses designed
to tackle poverty and provide employment, products and services to
the poor in Low Income Countries (LICs).
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