Summary:
- President Museveni reassured potential investors of the vast and growing market in Uganda and the East African region, which can absorb manufactured goods and sustain investments.
ABU DHABI: President Yoweri Kaguta Museveni on Wednesday invited investors from around the globe to explore the abundant business opportunities available in Uganda and Africa at large.
He emphasized that Uganda’s rapidly growing economy requires a boost through value addition to its products to accelerate economic transformation.
“We invite investors worldwide to help us rapidly transform our economy and society while benefiting from Uganda’s impressive Internal Rate of Return (IRR) of 14.1%. Uganda, now classified as a lower-middle-income country, is poised to grow into an upper-middle-income nation and eventually a developed country. To achieve this, we must add value to a wide range of raw materials, including coffee, bananas, fruits, cotton, oil seeds, cassava, maize, tea, dairy, beef, poultry products, fish, forest products, sugar, and minerals,” President Museveni stated.
The President made these remarks during the opening ceremony of the 4th edition of Abu Dhabi Sustainability Week (ADSW) 2025 at the Abu Dhabi National Exhibition Centre (ADNEC).
This year’s event, themed “The Nexus of Next: Supercharging Sustainable Progress”, brought together African and international leaders to address global sustainability challenges.
Delivering his address on the topic “Transforming Uganda in a Rising East Africa,” President Museveni reflected on Uganda’s economic journey and its vision for the future. He expressed gratitude to UAE President Sheikh Mohamed bin Zayed Al Nahyan for hosting the summit and highlighted the importance of expanding markets for Uganda’s products to foster prosperity across Africa.
President Museveni reassured potential investors of the vast and growing market in Uganda and the East African region, which can absorb manufactured goods and sustain investments.
“The internal market of Uganda, with 46 million people, is not sufficient to support large-scale production, especially given the low purchasing power. However, the East African market and Africa’s population, projected to reach 2.5 billion within the next 25 years, present a massive opportunity. When you invest in Uganda or other African nations, you gain access to this immense and growing market,” he explained.
The President also highlighted Uganda’s surplus in various products, such as maize, milk, beef, bananas, steel, cement, textiles, and cassava products, as a testament to its production capacity.
He credited African leaders for their strategic vision in promoting policies aimed at ensuring prosperity for the continent.
President Museveni outlined Uganda’s efforts to diversify its economy beyond the traditional reliance on coffee, cotton, copper, tea, tobacco, and tourism. These efforts included:
Encouraging the production of new commercial products such as fruits, fish, bananas, dairy products, beef, sugar, and leather.
Adding value to raw materials, including textiles, dairy products, and sugar, to produce finished goods.
Investing in the knowledge economy with innovations like automobiles and vaccines.
He further emphasized the importance of infrastructure, a skilled and healthy workforce, and energy generation as critical components of Uganda’s transformation.
“These efforts have grown Uganda’s economy from a mere $4 billion in 1986 to $168.5 billion (by PPP). However, much of this is still raw materials. Our goal is to grow the economy to $500 billion in the near future,” he stated.
Advocating for Win-Win Solutions
While emphasizing Africa’s unstoppable growth, President Museveni cautioned against philosophical and strategic errors by actors driven by greed or ignorance.
He advocated for win-win solutions that promote global affluence and avoid unnecessary conflicts.
Participation of Other Leaders
The summit also featured an address by Nigerian President Bola Tinubu, who spoke on “From Climate Imperatives to Economic Prosperity: Bringing Africa into the Future of Global Energy.”
He underscored Nigeria’s commitment to sustainability through energy transition, climate resilience, and cleaner energy adoption.
Key Ugandan officials, including Attorney General Hon. Kiryowa Kiwanuka, Permanent Secretary of the Ministry of Finance Mr. Ramadhan Goobi, and other dignitaries, attended the event alongside Ugandan ambassadors in the UAE.
About Abu Dhabi Sustainability Week
ADSW serves as a global platform to address pressing sustainability challenges and foster economic, social, and environmental progress. It champions interconnected solutions and collective intelligence to redefine sustainability and build a resilient, inclusive future.
President Museveni’s participation underscores Uganda’s commitment to leveraging partnerships and investments to realize its vision for economic growth and transformation.
