Uganda, EU target €2.2bn shift into green jobs

What the report says

Uganda and the European Union used a Kampala business forum on October 20-21, 2026, to highlight a shift from traditional aid toward private investment, green manufacturing and job creation, according to The Observer. The event ran alongside a renewable energy conference and expo and brought together government officials, financiers and business leaders as the partners marked 50 years of diplomatic relations.

The report says EU Ambassador Jan Sadek pointed to strong growth in Uganda’s trade with the bloc, and to European investment as a major source of foreign direct investment in the country. He framed the partnership around the EU’s Team Europe and Global Gateway approach, which aims to mobilize funding for sustainable projects. One example cited was a planned €170 million refurbishment of the Nalubaale and Kiira hydropower stations, backed by EU grants and loans from the European Investment Bank and the French Development Agency.

Ugandan officials and private-sector representatives stressed that new generation capacity must translate into affordable and reliable power for factories and small businesses. Private Sector Foundation Uganda’s Sarah Kagingo said financing models and follow-up mechanisms are needed so forum pledges lead to projects and jobs. Energy minister Monica Musenero Masanza, speaking for Vice President Jessica Alupo, urged investors to see renewable energy as a driver of industrial growth, local manufacturing and value addition.

The broader significance, as reported by The Observer, is that the success of the partnership will be judged by whether it produces financed projects, stronger enterprises and employment, rather than by diplomatic ceremony alone.