Uganda’s Minister of State for Investment, Evelyn Anite, has urged investors from the United Arab Emirates (UAE) to increase investment in the country’s water transport systems, mineral value-addition projects, and low-interest financing for local businesses. She emphasized that such collaborations would fast-track Uganda’s ambition to become a $500 billion economy while strengthening economic ties between Kampala and Abu Dhabi.
Speaking at the 4th Uganda–UAE Business Forum in Kampala, Anite lauded the UAE’s growing investment in Uganda, now valued at $3.5 billion in foreign direct investment (FDI), and described the country as “a land of peace, prosperity, and profit.”
“It is a significant achievement to attract $3.5 billion in FDI,” she said. “With strategic partnerships, Uganda can emulate the UAE’s economic success in the coming decade.”
Anite highlighted the potential for UAE infrastructure and logistics firms to develop Uganda’s inland water transport network across Lakes Victoria, Kyoga, and Albert. She noted that complementing the ongoing standard-gauge railway and expressway projects with upgraded water transport would lower freight costs, link industrial zones to ports, and enhance Uganda’s competitiveness as a regional trade hub.
“We lag behind in water transport. Investors can help us develop modern vessels, upgrade ports, and integrate waterway systems,” she stated. “Efficient movement of goods will position Uganda as the gateway to East and Central Africa.”
Expanding Access to Affordable Credit
The minister also called on UAE financial institutions to provide low-cost financing to Uganda’s private sector.
“Our entrepreneurs struggle with high borrowing costs. If you bring affordable financing, our small and medium enterprises can scale production and compete globally,” Anite explained. She noted that while the Uganda Development Bank offers loans at around 12 percent interest, domestic businesses still face higher rates than counterparts in other emerging economies.
“Access to affordable credit is crucial to unlocking Uganda’s manufacturing and export potential,” she added.
Promoting Value Addition in Minerals
Anite urged investors to support Uganda’s mineral value-addition initiatives, citing 35 known deposits of gold, copper, lithium, and rare earth elements.
“We need partners to establish refineries and factories that transform raw minerals into high-value products,” she said. “The model that attracted gold refiners to the UAE can be replicated here.” She emphasized that Uganda’s industrial growth strategy includes industrial parks, reliable electricity, and tax incentives to keep wealth and jobs in the country.
Investor-Friendly Policies and Vision 2040
Reaffirming Uganda’s liberalized economy, Anite assured investors of the freedom to repatriate or reinvest profits after fulfilling obligations. She outlined the government’s long-term plan to expand industrial capacity through infrastructure modernization, local processing, and supportive policies aligned with Vision 2040.
“Our reforms have sustained GDP growth of about 7 percent, and we aim to expand the economy tenfold by 2040,” she said. “Uganda is peaceful, profitable, and ready for meaningful investment partnerships.”
Anite also acknowledged the efforts of Uganda’s Ambassador to the UAE, Zaake Wanume Kibedi, noting that bilateral trade had reached $2.85 billion as of September 2025. She highlighted the remarkable growth of the Uganda–UAE Investment and Trade Summit, which began with just 100 participants and one UAE investor, now attracting $3.5 billion in investment across hospitality, oil and gas, and manufacturing.
“By the 10th edition, these initiatives will play a pivotal role in achieving our economic expansion goals,” she concluded.
