The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Kampala Capital City Authority-KCCA is set to host the first-ever Kampala Business and Investment Summit next month.
The event is organized by KCCA and the African Center for Economic Dialogue- AfCED under the theme “Unlocking Financing and Investment for a Sustainable, Inclusive and Smart Urban Eco-system”. It will be held from 20th to 21 July 2023 at the Mestil Hotel in Kampala.
Addressing the media at the Uganda Media Center on Tuesday, the State Minister for Kampala and Metropolitan Affairs Kabuye Kyofa said the summit will be an avenue to promote solutions in finance and investment related to climate change, rapid urbanization in order to achieve Sustainable Development Goal and national development goals.
Kyofa adds that the event, which brings together partners from private and government institutions such as investors, business leaders, civil society, and small and medium enterprises from Uganda, and across the borders shall market Kampala and Uganda as viable investment destinations.
Julius Nsubuga Kazibwe, the Executive Director African Center for Economic Dialogue says Uganda has a lot of business and investment potential to showcase due to its natural resources and growing population and Urbanization.
He says that apart from opportunities for the business community, there is a chance for the government to attract investors to improve infrastructure such as roads.
KCCA and AfCED are working with other partners such as the Nigeria High Commission, Exim Bank, Uganda Free Zones Authority, and Uganda Industrial Research Institute among others to organize the summit.
Ismail Alatise, the Nigeria High Commissioner to Uganda says the summit is a great opportunity for Uganda to showcase her business and investment potential in different fields to the rest of Africa.
He says, his role as a diplomat is to see how to push the business community in Nigeria to work with Uganda to take their economies to greater heights. In Africa, he says, we have the tendency to run to other continents yet we could benefit from intra-Africa trade.
In February 2023, Nigeria and Uganda signed a Memorandum of Understanding to allow Uganda Airlines to start direct flights to Lagos and Abuja. Alatise says this is one of the initiatives they have made with the Ugandan government believing that if Africa can adopt favorable policies, they can promote trade and investments within them without seeking external intervention from other continents.
Uganda’s total GDP was calculated at 45.7 billion dollars for the year 2021/2023, the Industrial sector, which comprises 26.8 percent, is a primary driver of growth valued at 5.3 percent. The Agriculture sector employs 68 percent of the workforce and repents 24.1 percent of the total GDP.
*****
URN
