Private sector investment crucial to Uganda’s energy transformation, says Minister

What the report says

Uganda’s Minister of State for Energy, Okaasai Sidronius Opolot, has called on private investors to put more money into the country’s energy sector, arguing that reliable and affordable power will be central to Uganda’s wider economic transformation. The remarks were made recently at the Uganda Chamber of Energy and Minerals’ second Annual Energy Convention, according to The Observer.

Okaasai linked the appeal to Uganda’s long-term goal of expanding its economy to $500 billion by 2040. He said the country’s shift toward value addition, industrialisation and the knowledge economy will require major investment in electricity generation, transmission and related infrastructure. He also pointed to sectors such as agriculture, mining, transport and digital systems as areas that will depend on greater energy access.

The minister said Uganda has already made significant progress in power development, citing growth in electricity generation from 60MW in 1986 to 2,098MW today, along with expansion of the transmission network and broader electricity access. He named projects including Karuma, Isimba, Kiira, Nalubaale and Bujagali as part of that buildout.

UCEM Governing Council Chairperson Aggrey Ashaba said the sector’s main challenge is now less about policy and more about aligning investors, projects, regulators and skills providers. He said the convention was meant to help close the gap between available capital and bankable energy projects. As a general context point, Uganda has for years promoted energy infrastructure as a foundation for industrial growth, but financing and project preparation remain common hurdles.