President Yoweri Museveni has convinced European investors that the best decision they can take is to tap into Uganda’s growing market while emphasizing the Pear of Africa’s potential in agriculture, aquaculture and environmental sustainability.
This came up during a meeting that the President held with his European guests last week at his country home in Irenga, in the western Uganda district of Ntungamo.
The President is said to have expressed concern over Europe’s dwindling investment footprint in Africa, whereby he contrasted it with the rising influence of Chinese investors.
“What happened to our relatives, the Europeans? Why don’t they come and invest?” the wondered.
He reminded his guests of Africa’s projected population growth of 2.5 billion in the next 30 years as a lucrative market opportunity.
“President Museveni also praised European ventures already established in Uganda, including liquid coffee production, avocado exports, and medical waste solutions, pledging government support to bolster these investments,” a statement from State House noted.
During the same meeting with Mr. Nico Van Vliet, representing the Uganda Flowers Exporters Association, and Mr. Eric de Waan, from Yalelo Uganda, exporters of fish, unveiled a strategic plan to restore degraded wetlands by relocating farmers to the peripheries for sustainable fish farming.
The investors welcomed President Museveni’s call for stronger economic ties, with Mr. Van Vliet, noting: “We see great potential for growth, not only in the European Union but also in regional markets like Kenya and Ethiopia. We are committed to contributing more to Uganda’s economy.”
Mr. Eric de Waan said: “Uganda has the best conditions for fish farming, especially in Lake Victoria. We aim to invest $5 million annually to expand operations.”
