Kampala, Uganda, 4th December 2024, The Government of Uganda, in collaboration with the Lemon Group (LEMX), has announced a groundbreaking partnership to advance blockchain-powered initiatives aimed at fostering economic growth, increasing transparency, and empowering communities through innovative technology solutions. This partnership solidifies Uganda’s position as a forward-thinking leader in blockchain innovation within Africa and globally.
In an official statement, Hon. Oryem Henry Okello, Minister of State for Foreign Affairs/International Relations, emphasized the government’s unwavering commitment to supporting the Lemon Group’s (LEMX) transformative tokenization initiatives. These efforts are expected to drive significant investment opportunities, improve public services, and provide a robust framework for economic modernization.
The initial phase of this collaboration will focus on tokenizing housing projects to address Uganda’s housing challenges, ensuring quality and affordability for citizens. With over 60,000 army homes slated for tokenization,this first step towards full tokenization of the country is estimated at around 2 billion USD, representing a pivotal step toward democratizing ownership and fostering financial inclusion. By enabling fractional ownership, Ugandans will have unprecedented access to invest in real estate assets, improving their financial independence.
Building on this success, the initiative will expand to other sectors, including traditional housing solutions for broader communities and military personnel. The overarching goal is to enhance transparency in asset management and introduce innovative financial models that empower the nation’s citizens.
Often referred to as the “Pearl of Africa,” Uganda’s rich resources and strategic position make it a natural hub for blockchain-powered transformation. The potential for tokenization initiatives is vast, and other efforts such as the expansion to tokenizing coffee in the country, is slated to happen in late 2025. By leveraging the Lemon Group’s (LEMX) expertise in blockchain technology, Uganda is poised to attract global investments, enhance service delivery, and strengthen its economic foundation.
“I would like to personally acknowledge my long-standing relationship with Dr. Fahed Merehbi, Co-founder of Lemon Group,” stated Minister Okello. “This partnership reflects a shared vision of using innovation to benefit the people of Uganda and promote sustainable progress for our country.”
As part of the broader collaboration, Uganda seeks to establish comprehensive blockchain regulations that foster transparency, promote innovation, and position the nation at the forefront of blockchain-driven economic transformation. This partnership aims to showcase Uganda as a regional leader in blockchain-powered asset management, aligning with its vision for a prosperous, digitally advanced future.
The Government of Uganda expresses full support for the Lemon Group (LEMX) and its initiatives and remains confident that this partnership will serve the best interests of Ugandans, global investors, and the broader economy.
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