Museveni holds talks with French investors

KAMPALA, Uganda— President Yoweri Museveni met with a delegation of French investors, led by Celine Gouveia, President of the France-East Africa Business Council, to bolster bilateral economic cooperation between Uganda and France.

France is Uganda’s largest foreign investor, accounting for 53% of the country’s foreign investment in 2023. Discussions centered on infrastructure development, regional integration, affordable power generation, and agricultural resilience through irrigation projects.

Museveni emphasized Uganda’s investment potential, citing rich natural resources and a need for infrastructure development. “We need infrastructure because it links the buyer to the consumer,” he said, praising his government’s pro-business approach.

Gouveia reaffirmed France’s commitment to Uganda’s sustainable development, noting 40 French companies across various sectors. “This presence represents a strong vote of confidence in Uganda’s economic landscape,” she said.

Uganda’s Minister of Finance, Planning and Economic Development, Matia Kasaija, welcomed France’s investment, citing its potential to create jobs and stimulate economic growth.

“The presence of French companies in Uganda is a strong indication of the confidence they have in our economy,” Kasaija said.

Museveni also highlighted the importance of regional integration initiatives, such as the East African Community and the African Continental Free Trade Area, in expanding Uganda’s market access.

The Ugandan government seeks foreign investment, particularly in agribusiness, sustainable mining, enabling infrastructure, and sustainable tourism.