President Museveni woos Egyptian investors

What the report says

President Yoweri Museveni has urged a visiting group of Egyptian investors to put money into Uganda’s economy, with emphasis on infrastructure and value addition, according to Watchdog Uganda. The meeting took place at State House in Entebbe and was attended by a delegation led by Uganda’s Deputy Ambassador to Egypt, Lt. Gen. Charles Angina.

Museveni said Uganda has abundant agricultural produce, minerals and forest resources, but still needs more factories to process raw materials locally and better infrastructure to help Ugandan goods compete. He pointed to commercial agriculture, manufacturing, services and ICT as the main parts of the economy, and said each depends on reliable and affordable transport and energy.

The president highlighted electricity, railways, irrigation and toll roads as priority investment areas. He said lower-cost power would support industrial growth, while shifting cargo from road to rail could reduce transport costs. He also argued that irrigation would help farmers cope with weather-related risks and support year-round production. In addition, he backed private participation in toll road projects.

Museveni also welcomed a proposal from the delegation for an industrial park focused on coffee and cotton processing, and said the government would help identify suitable land. An Egyptian investor in the delegation said the group wanted to explore strategic projects in Uganda and build on ties between the two countries. More broadly, the report reflects Uganda’s continuing push to attract foreign capital into infrastructure and agro-processing.