France to inject Shs. 13 Trillion in Uganda

This was revealed by French Ambassador to Uganda HE Xavier Sticker during a meeting with Gen Jeje Odongo, Uganda’s Minister of Foreign Affairs.

The meeting took place at the Ministry of Foreign Affairs in Kampala.

The Foreign Affairs Ministry in a statement, said both parties engaged in fruitful discussions centered on enhancing bilateral relations and cooperation between the Republic of Uganda and the Republic of France.

“Notably, the discussions underscored the shared commitment of both nations to further strengthen ties across various sectors of mutual interest,” the statement added.

As of Last Year, Uganda is leading the East African Region in attracting Foreign Direct Investment (FDI)

A report by business advisory firm Ernst & Young shows that Uganda recorded a high of $10.2 billion, creating 6,300 jobs

Investment inflows into Kenya increased by 117 per cent year-on-year, bringing in $2 billion in capital investment and generating 7,819 jobs, with most of the investment going into the business services, technology, and transportation and warehousing sectors.

In Tanzania, FDIs rose by 133 percent to reach pre-Covid-19 pandemic levels, with 21 projects worth $1.3 billion and creating 4,566 jobs.

Uganda’s most foreign capital came mostly from investment from France in the oil and gas sector.

During yesterday’s meeting, France reaffirmed its unwavering commitment to investing significantly in Uganda's socio-economic development.

HE Xavier said the investments will be strategically allocated across key sectors, including but not limited to agriculture and oil and gas, with the aim of fostering sustainable growth and prosperity in Uganda.

The Government of Uganda expresses its sincere gratitude to the Republic of France for its generous investment commitment, which reflects the deep-rooted friendship and partnership between the two nations. This significant contribution will undoubtedly contribute to Uganda's efforts to achieve its development goals and improve the well-being of its citizens.

Both parties affirmed their commitment to continuing the constructive dialogue and collaboration in pursuit of shared objectives, further consolidating the strong and enduring partnership between Uganda and France.

The Minister of Foreign Affairs extended his appreciation to His Excellency Xavier Sticker and the Government of France for their steadfast support and partnership and looked forward to the successful implementation of the envisioned projects that will benefit both nations.