Museveni woos UAE investors to Uganda

KAMPALA, UGANDA | THE INDEPENDENT | President Yoweri Kaguta Museveni has called on investors worldwide to come and do business in Uganda in particular and Africa in general which he said offers a myriad of investment opportunities in various sectors. He said that Uganda’s economy is growing at a fast rate but only needs a stimulant in the form of adding value to its products to accelerate the transformation of the economy.

“We, therefore, invite investors from the world to help us do the rapid transformation of our economy and society as they also benefit because the IRR in Uganda is 14.1%. Uganda is now classified as a lower-middle-income country. It will however rapidly grow into a high middle class country and eventually into a fast-world country. To achieve these goals, we need to add value to the large spectrum of our agricultural raw materials like coffee, bananas, fruits, cotton, oil seeds, cassava, maize, tea, dairy, beef, poultry products, fish, forest products, sugar as well as mineral products,” Museveni said.

The President was among several African and International leaders who attended the opening ceremony of the 4th edition of Abu Dhabi Sustainability Week 2025 at the Abu Dhabi National Exhibition Centre (ADNEC) themed ‘The Nexus of Next: Supercharging Sustainable Progress.’ Museveni was delivering his address on the topic ‘Transforming Uganda in a rising East Africa’.

Abu Dhabi Sustainable Week is a global platform to address the world’s most pressing sustainability challenges and accelerate inclusive economic, social, and environmental progress. The event fosters interconnected solutions that redefine sustainability and harness collective intelligence to supercharge sustainable progress. Additionally, ADSW leverages the UAE’s vision and its unique ability to unite the Global community and accelerate a sustainable, inclusive, and resilient future. The annual event stands at the nexus of new thinking and action.

Museveni who thanked the President of the United Arab Emirates Sheikh Zayed bin Sultan Al Nahyan for inviting him to the summit, reflected on the importance of having a big market for the products produced in Uganda and Africa in general that will support the prosperity of the people on the continent. He assured investors of the huge and growing market in the region that will not only absorb all their manufactured products but will also ensure the sustainability of their investments.

He saluted leaders in East Africa, and Africa in general for the clear vision realized of supporting the strategic policy of ensuring the prosperity of their people. “With a clear vision, we agreed that when you produce a good or a service, you need to sell. The more you sell, the better for our prosperity. The internal market of Uganda of 46 million people is not enough to support large-scale sustained production of goods and services, especially when their purchasing power is still low. Already Uganda has a surplus of many products. How would the Uganda economy grow if we did not have the East African market? I would like therefore to assure investors from outside Africa that the Africans have already laid down a lucrative market. When you invest in Uganda or any of the other African countries, you have the assurance of this huge and growing market. The population of Africa will be 2.5 billion people in the next 25 years. The population of Uganda will be 106 people by that time,” Museveni observed.

He noted that with the adoption of correct policies by African leaders and acting in the right way, the future leadership in prosperity without doubt belongs to the continent. He noted that the growth of Africa is now unstoppable. He however cautioned on the philosophical, ideological, and strategic mistakes committed by actors he described as bankrupt, greedy, evil, and also ignorant observing that to win global affluence, the mistakes are not necessary as they generate resistance followed by conflicts, adding that the strength is in win-win solutions to human problems.

The summit was also attended by Attorney General Kiryowa Kiwanuka, the Permanent secretary of, the Ministry of Finance, Planning and Economic Development and Secretary to the Treasury, Ramadhan Goobi, the Permanent Secretary Ministry of Health, Dr. Diana Atwine and the Permanent Secretary, Ministry of Foreign Affairs Vincent Bagiire.

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