Uganda’s President Yoweri Kaguta Museveni on Tuesday met a delegation of investors from France with whom he discussed plans to invest in infrastructure and value addition.
According to State House, the French team was led by Celine Gouveia, president of the France-East Africa Business Council.
“The council represents the largest foreign investor group in Uganda, with French companies contributing an impressive 53% of the country’s foreign investment as of 2023,” State House said.
“During the meeting, the President emphasised his commitment to strengthen Uganda’s economic partnership with France,” State House added.
Museveni informed his guest about Uganda’s vast investment potential, emphasising the country’s rich raw materials and its pressing need for infrastructure to connect producers and consumers.
“We need infrastructure because it links the buyer to the consumer,” Museveni said.
The president also highlighted the importace of regional markets which were enhancing investors’ hopes for ready consumers in both the East African region and the entire continent.
“He urged the investors to consider affordable power generation, encouraging electricity production costs below 5 cents per kilowatt-hour, which he sees as essential for industrial growth,” State House said.
The President also emphasised the importance of irrigation for stabilising agriculture, calling on companies interested in developing irrigation projects to contribute to Uganda’s agricultural resilience.
State House said “Gouveia expressed the commitment of French businesses to Uganda’s sustainable future, citing the involvement of 40 French companies across diverse sectors.”
“This presence represents a strong vote of confidence in Uganda’s economic landscape,” Ms. Gouveia said.
