Prof Patrick Ogwang, the inventor of Covid19 support treatment drug Covidex must be a happy man now after Investment promotion body, the Uganda Investment Authority (UIA) extended a big hand of help to boost production capacity for the herbal remedy.
UIA has extended to the industrious Professor a free Investment Licence, and five acres of land at Soroti Industrial Park to establish a formal production plant for the drug.
Also given to Ogwang is a ten year tax holiday incentive to help the production venture take root.
While handing over the licence to Jena Herbals Ltd, the parent company for the coronavirus herbal remedy Covidex, Investment and Privitisation junior Minister Evelyn Anite reiterated government’s emphasis on promoting local investment to boost self development efforts by homegrown investors.
“Our focus is on supporting local investors. We believe our country can be built by ourselves,” Anite said.
The move is expected to go a long way in supporting the pathogenic economy and also boost the production of Covidex to satisfy both local and regional demand amidst the surge in coronavirus infections in East Africa, and Africa as a whole.
Last month, National Drug Authority (NDA) approved Covidex in the treatment of Covid19 as a supporting remedy.
In a recent media interview, Ogwangasaid he was already producing thousands of bottles of the herbal concoction per day.
Reports from the public in regards to the remedy have generally been positive with testimonies to recovery. This has caused the demand for the drug to skyrocket, along with its price.
Although Ogwang insists that his drug costs Shs 5000 because he is cognizant to the financial plight of Ugandans, unscrupulouscripulous traders have sold the remedy for as high as Shs 80,000.