"€200 million boost at Uganda-EU Forum for entrepreneurs, economic growth

These projects aim to bolster small enterprises, young female entrepreneurs, the agribusiness sector, and essential digital infrastructure in Uganda.

Funded by the European Union, these initiatives are set to stimulate economic growth and job creation within Uganda, according to Myriam Ferran, Deputy Director General of EU International Partnerships.

Ferran highlighted the innovative approach of these projects, leveraging new financial tools like guarantees, blending, and a range of business development services, including low-interest and interest-free loans, alongside technical support grants. She emphasized the shift in Uganda-EU relations towards promoting trade and investment, moving away from conventional aid, to develop Uganda’s private sector further.

At the forum, themed “Boosting Trade and Investment: What can Uganda gain from the Global Gateway?”, thirty Ugandan companies pitched their ideas to European investors, seeking investments totaling at least €14 million (Shs60 billion).

The event facilitated 100 structured Business-to-Business (B2B) meetings over three days at the Speke Commonwealth Resort Munyonyo in Kampala, attracting 3600 registrations, 900 in-person attendees, and 90 exhibitors, with a broad online audience.

The forum’s stature as the premier Uganda-EU business event was further solidified by the attendance of President Yoweri Museveni and several high-ranking Ugandan officials.

Prime Minister Robinah Nabbanja officially closed the event, reflecting the strong public and private commitment to enhancing Uganda-EU economic relations.

President Museveni shared his vision for global prosperity, highlighting the vast potential for economic growth and prosperity. He also engaged with European investors to discuss the investment landscape in Uganda.

A new portal aimed at assisting the private sector and Ugandan entrepreneurs with financial access challenges was introduced at the forum’s conclusion, reinforcing the commitment to boosting economic growth through direct support to micro, small, and medium-sized enterprises in Uganda’s priority sectors, as noted by EU Ambassador to Uganda, Jan Sadek.

The forum was a collaborative effort by the EU Delegation to Uganda, its Member States, the Ugandan Government, the Private Sector Foundation Uganda (PSFU), and the Uganda Investment Authority (UIA) under the Sustainable Business for Uganda (SB4U) Team Europe Initiative.

Evelyn Anite, State Minister of Finance for Investment and Privatization, lauded the forum's success, highlighting Uganda's appeal as an investment destination with a young, skilled workforce and abundant raw materials.

The event emphasized key sectors for European investment in Uganda, including agribusiness, sustainable mining, infrastructure, and tourism, showcasing Uganda's trade benefits with Europe. PSFU Chair Humphrey Nzeyi and UIA Chair Morrison Rwakakamba expressed optimism for the future of Uganda-EU economic cooperation, despite global challenges, emphasizing the commitment to attracting investments and enhancing regional trade.