Kampala, Uganda – March 7, 2024 – The third Uganda-EU Business Forum (UEUBF) successfully concluded in Kampala, marking another milestone in strengthening trade and investment ties between Uganda and the European Union. Hosted from March 5th to 7th, 2024, the forum operated under the theme “Boosting Trade and Investments: What Can Uganda Gain from the Global Gateway?”, highlighting significant opportunities for European investors in Uganda’s key economic sectors.
Record Attendance and High-Level Engagement
The event saw record participation, with 3,700 registrations, including 1,500 on-site and 500 online attendees, and representatives from 193 Ugandan companies and 811 EU companies. The forum featured prominent attendees, including H.E. President Yoweri Kaguta Museveni, who emphasized Uganda’s attractive investment climate and superior profitability rates in the region. Eight new Team Europe projects worth over EUR 200 million were signed during the forum, targeting small business owners, young female entrepreneurs, agribusinesses, and digital infrastructure projects in Uganda.
Key Highlights and Sessions
The UEUBF 2024 focused on enhancing trade and investment in sectors such as agribusiness, minerals, enabling infrastructure (energy, digital & transport), and sustainable tourism. The EU Deputy Director General for International Partnerships, Myriam Ferran, highlighted the EU’s commitment to promoting private sector development in Uganda under the Global Gateway strategy, aimed at boosting growth and generating employment.
Deals Room and Sector-Specific Discussions
A new addition to the forum, the Deals Room, allowed 27 entrepreneurs to pitch projects worth EUR 13 million to potential investors. As a result, 13 enterprises secured matching opportunities with investors, with ongoing monitoring of the deals. Additionally, the forum hosted sector-specific plenaries, panel discussions, and workshops, addressing challenges and opportunities in agribusiness, minerals, infrastructure, and tourism.
Financial Inclusion and Export Awards
Significant announcements included a EUR 50 million Financial Inclusion Investment Partnership for SMEs, and a EUR 100 million partnership with EIB Global for micro entrepreneurs. The forum also launched the Access to Finance Portal, providing comprehensive information on financing options for local businesses.
The inaugural Uganda-EU Exporters Award recognized excellence in traditional, non-traditional, and innovative exporting practices. Top honors went to UGACOF for traditional exports, KK Fresh Produce Exporters for non-traditional exports, and Sio Valley Technologies for innovation.
Conclusion and Future Outlook
The forum concluded with remarks from Rt. Hon. Robinah Nabbanja, Prime Minister of Uganda, who reaffirmed Uganda’s position as a prime investment destination in East Africa. The UEUBF 2024 set the stage for deepened Uganda-EU partnerships, aligning with Uganda’s National Development Plan and the Global Gateway strategy, paving the way for future economic growth and sustainable development.
