Uganda, EU target €2.2bn shift into green jobs

What the report says

Uganda and the European Union are using the 50th anniversary of their diplomatic relations to push a new economic agenda centered on private investment, green manufacturing and jobs. The main gathering was the Uganda–European Union Business Forum in Kampala on October 20 and 21, 2026, held alongside a Renewable Energy Conference and Expo. Officials, financiers and business leaders attended, with the discussions framed around turning partnership commitments into projects that can support local industry and employment.

The Observer reports that EU Ambassador Jan Sadek highlighted the growth in trade between Uganda and the bloc, and said European investment made up a large share of Uganda’s foreign direct investment inflows last year. He pointed to the EU’s Team Europe and Global Gateway approach as the mechanism for mobilizing funding for sustainable projects. One example cited was a planned €170 million upgrade of the Nalubaale and Kiira hydropower stations, backed by EU grants and loans from the European Investment Bank and the French Development Agency.

The article also notes that earlier energy investments have added about 500 megawatts to Uganda’s grid, with a wider goal of connecting three million people to electricity by 2030. Sarah Kagingo of the Private Sector Foundation Uganda warned that more generation alone will not help businesses unless power is affordable and reliable. Speaking for Vice-President Jessica Alupo, Energy and Mineral Development Minister Monica Musenero Masanza said renewable energy should be viewed as a driver of industrial growth and value addition, not just environmental compliance.

The forum’s practical test will be whether business matchmaking and project pitches lead to financed ventures that translate into factories, jobs and steadier power for Ugandan enterprises.