- Jirongo is a former MP and prominent business figure with extensive interests in energy and real estate.
- Luokong will provide Carbon Neutrality Data Services and Natural Resources Asset Management to assess and monitor Uganda's carbon reserves.
Image: HANDOUT
Carbon-related initiatives are set to be transparent and efficient after a Chinese climate-technology company entered into a deal with Uganda to deploy cutting-edge technology.
Luokong technology is set to deploy a cutting-edge digital measuring, reporting and verification platform.
The platform, leveraging remote sensing technology, will accurately measure Uganda's carbon footprint.
The move will enhance efficiency, transparency and integrity in carbon-related initiatives.
President Yoweri Museveni presided over the signing ceremony on February 3, at the State Lodge in Nakasero, witnessing the Memorandum of Understanding inked between the Uganda government and Luokong Technology Corporation, alongside Nairobi-based Shiftings Limited.
Representing the Ugandan government, Beatrice Anywar, Minister of State for Environment, Alfred Okidi, Permanent Secretary of the Ministry of Water and Environment and Jackson Kafuuzi, deputy Attorney General, endorsed the MoU.
Luokung Technology Corporation CEO Wu Ying signed for Luokung in the presence of the company’s chairman Song Xuesong and the Ambassador of China to Uganda, Zhang Lizhong.
Luokung’s undertakings in Africa are represented by Shiftings Ltd., whose CEO is Cyrus Jirongo.
"We are thrilled to introduce advanced tools to Africa's carbon market, ensuring standardised, digitally-driven carbon accounting for nature-based projects at a fraction of traditional costs and time," he said.
Jirongo is a former MP and prominent business figure with extensive interests in energy and real estate.
Leveraging state-of-the-art satellite imagery, remote sensing and machine learning technologies, Luokong will provide Carbon Neutrality Data Services and Natural Resources Asset Management to assess and monitor Uganda's carbon reserves.
The MoU underscores a shared vision focused on three key objectives.
This includes quantifying Uganda's total carbon assets, establishing African standards for carbon quantification and accounting and launching a carbon asset exchange—a trading platform in Kampala—to facilitate carbon asset trading among African nations and asset owners.
Despite recent technological strides, conventional tools such as PDF files, spreadsheets and manual measurements persist in forest carbon credit measurement and verification.
Luokong's digital platforms will automate and standardise data collection, analysis and validation, ensuring objectivity, transparency and significant reductions in time and costs associated with issuing new carbon credits—a pressing challenge in today's carbon market landscape.
Founded in 2009 and headquartered in Beijing, China, Luokong Technology is publicly traded on the Nasdaq Stock Market, underpinning its commitment to global innovation and sustainability.