Uganda, China EXIM Bank in talks to boost industrialisation

Finance Minister Matia Kasaija has held high-level talks with a delegation from Export-Import Bank of China aimed at accelerating Uganda’s industrialisation drive and deepening economic ties with Beijing.

The delegation, led by the bank’s Vice President Dr Yang Dongning, is in the country to explore expanded financing and investment opportunities aligned with Uganda’s long-term economic transformation agenda.

Speaking after the meeting, Mr Kasaija said Uganda’s next phase of growth will be anchored on agro-industrialisation, export expansion and value addition under the government’s ATMS strategy.

“Uganda is shifting from exporting raw materials to processing, manufacturing and higher-value exports in key sectors such as coffee, cotton and tea, as well as minerals including oil and gas, tourism, science, technology and innovation,” Mr Kasaija said.

He added that the country is positioning itself to benefit from China’s zero-tariff policy by increasing access to global markets through value addition and industrial production.

The minister, accompanied by Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi, also thanked the Chinese government for sustained financial and technical support in sectors such as transport, energy and health.

In a move expected to boost investment inflows, China EXIM Bank committed to support the organisation of a “Uganda Day” in China to showcase investment opportunities and link Ugandan enterprises with Chinese investors and manufacturers.

Officials said the initiative will form part of a broader strategy to strengthen commercial diplomacy, deepen private sector partnerships and position Uganda as a preferred investment destination in Africa.

Both parties agreed to scale up support for industrial parks, focusing on improving access to land, utilities and logistics infrastructure to attract large-scale investors and enhance productivity.

China EXIM Bank also reaffirmed its commitment to Uganda’s development agenda through a range of financing options, including trade finance, blended financing models, equity investments and syndicated loans.

Mr Kasaija emphasised the need for flexible and innovative financing structures to fast-track priority projects and unlock large-scale investments.

The two sides further underscored the importance of strengthening technical and vocational education to equip the workforce with skills required to support industrial growth and meet investor demands.