President Yoweri Kaguta Museveni has invited investors to explore Uganda’s expanding economy, emphasizing the country’s vast opportunities in value addition and industrial development. Speaking at the Abu Dhabi Sustainability Week 2025 Summit, President Museveni highlighted Uganda’s rapid economic growth and the need for investment in sectors such as agriculture, manufacturing, and infrastructure.
“We invite investors from around the world to help us accelerate the transformation of our economy while also benefiting from it. Uganda’s Internal Rate of Return (IRR) stands at 14.1%, and the country is now classified as a lower middle-income economy. Our goal is to move quickly into a high middle-income status and beyond,” he said.
He stressed the importance of adding value to Uganda’s raw materials, including coffee, bananas, fruits, cotton, oilseeds, cassava, maize, tea, dairy, beef, poultry, fish, and minerals. He assured investors of a large and growing market, not only in Uganda but across Africa.
“With a clear vision, we agreed that when you produce goods or services, you need a market. Uganda’s 46 million people alone cannot sustain large-scale production, but the East African market and beyond provide a great opportunity. Africa’s population will reach 2.5 billion in the next 25 years, with Uganda at 106 million,” he observed.
President Museveni praised African leaders for supporting policies that promote economic integration. He assured international investors that Africa has laid the foundation for a lucrative market.
He also reflected on Uganda’s economic transformation, detailing how the country moved beyond its traditional reliance on coffee, cotton, and copper by diversifying into new industries, including manufacturing, energy, and knowledge-based economies.
“These efforts have grown Uganda’s economy from a mere $4 billion in 1986 to $168.5 billion today. However, we are not satisfied. Much of our $55 billion in exports are raw materials. We aim to expand the economy to $500 billion in the coming years,” he said.
President Museveni warned against ideological and strategic mistakes that lead to global conflicts, urging nations to pursue win-win solutions. He also emphasized the need for investments in infrastructure, human capital, and energy to sustain long-term growth.
The summit, held at the Abu Dhabi National Exhibition Centre, brought together global leaders, including Nigerian President Bola Tinubu, who addressed Africa’s transition to cleaner energy.
Ugandan officials in attendance included Attorney General Kiryowa Kiwanuka, Permanent Secretary of Finance Ramadhan Goobi, Permanent Secretary of Health Dr. Diana Atwine, and Foreign Affairs Permanent Secretary Vincent Bagiire. Uganda’s Ambassador to the UAE, H.E. Zaake W. Kibedi, and Deputy Head of Mission Aisa Ismail were also present.
