The Chairman of Uganda Manufacturers Association, Deo Kayemba, has called for increased investment in Uganda’s mining and agricultural sectors, as he addressed delegates at the recently concluded Trade and Investment Summit in Pretoria, South Africa.
President Yoweri Kaguta Museveni of Uganda and President Cyril Ramaphosa of South Africa graced the event, which brought together over 300 delegates from both countries, including business leaders, government agencies, and investors from both countries. The event provided a platform for the participants to identify existing and emerging business and investment opportunities of mutual benefit.
Speaking at the event, Kayemba highlighted Uganda’s potential for growth, noting that the country has a lot of untapped capacity in the mineral sector, cotton value chains, and agro-processing.
“Uganda is rich in minerals, but the mining sector is at an early stage of development,” Kayemba said. “We welcome partnerships to invest in the beneficiation of these minerals.”
Kayemba went on to highlight the opportunities available in Uganda’s agriculture sector, which he described as a food basket for the East African Community region. “The demand for Uganda’s fresh food in Europe and the Middle East currently stands at over 112 billion Euros,” he said. “There are investment opportunities in all stages of agriculture; production, aggregation, and final processing.”
In his speech, Kayemba called on the South African business community to form synergies that will help grow Uganda’s mining sector and invest in Uganda’s agriculture sector.
“The manufacturing sector has over 5,000 operational industries in various sub-sectors,” he said. “With a current population of 49,887,155 and a population growth rate of 3% per annum, and an income per capita of US $1046, the domestic market for manufactured goods is attractive.”
The Trade and Investment Summit was held under the theme “Boosting Trade and Investment Relations Between South Africa and Uganda.” The event explored opportunities in sectors of agriculture, tourism, oil and gas, healthcare and transport and logistics, and more.
The event concluded with a renewed commitment from both Uganda and South Africa to strengthen their trade and investment relations for mutual growth and development