Kampala, Uganda – President Yoweri Kaguta Museveni hosted former President of the Republic of South Africa, H.E. Jacob Zuma, at State Lodge Nakasero, where they held discussions aimed at strengthening business and investment cooperation between Uganda and South Africa. The meeting brought together government officials and investors who explored opportunities for collaboration in strategic sectors of Uganda’s economy, including energy generation, power transmission, irrigation, and value addition to mineral resources.
During the discussions, President Museveni welcomed H.E. Zuma and his delegation and described their investment proposals as progressive initiatives that would contribute significantly to Uganda’s industrialisation and economic transformation agenda. He reaffirmed the Government of Uganda’s commitment to supporting serious investors, particularly those investing in manufacturing, agriculture, and infrastructure development.
The President emphasised the critical role of affordable energy in driving economic growth and industrial expansion. He noted that the government remained focused on ensuring that electricity costs stayed low to support manufacturing and attract investment. Energy is the bone marrow of the economy, and here either the government does it or partners with private investors with soft capital, and we ensure that the cost of power is cheap to support manufacturing,” President Museveni said.
He further stressed that Uganda was prioritising key economic enablers, including affordable electricity, railway transport, and accessible financing, to strengthen productive sectors of the economy. “We are very strict with the price of electricity, transport by rail, and the cost of money. We want to fund manufacturing and agriculture. These are a must; without them, the economy will collapse,” he stated.
The meeting also highlighted Uganda’s continued efforts to promote value addition and industrial development as part of broader strategies to expand exports, create employment opportunities, and reduce the export of raw materials. Both leaders acknowledged the importance of investment partnerships in advancing sustainable economic development and regional integration. H.E. Jacob Zuma thanked President Museveni for the warm reception and expressed his commitment to strengthening investment cooperation between Uganda and South Africa. He noted that there was considerable potential for collaboration in sectors such as energy, infrastructure, and industrial development.
Also present at the meeting was the Permanent Secretary of the Ministry of Energy and Mineral Development, Eng. Irene Batebe, who was expected to spearhead follow-up engagements with the South African delegation to identify and develop specific areas of cooperation in the energy sector. The engagement underscored the strong and longstanding relations between Uganda and South Africa and reaffirmed the shared commitment of both countries to promoting investment, industrialisation, and economic growth across the African continent.
