President Yoweri Kaguta Museveni and South African President Cyril Ramaphosa will headline the Uganda-South Africa Business Summit to be held in Pretoria from 27 February to 1 March 2023.
According to Deputy Investment Minister Evelyn Anite, the summit, organized by the Private Sector Foundation Uganda (PSFU) in collaboration with ministries of foreign affairs, trade, co-operatives, privatization and investment, is aimed at promoting trade, tourism and investment between Uganda and South Africa. The Summit will provide a platform for the private sector, corporations and businesses to create ways to promote new markets and businesses and identify existing and emerging business and investment opportunities in Uganda and South Africa.
“We want to attract more South African investment to Uganda and expand the market for Ugandan products. We are expanding our territory as the demand for our products is increasing.” The investment agenda has shifted to solely attracting foreign direct investment and capturing foreign markets for our products. Therefore, the summit will be an opportunity for both export and investment promotion,” Anite said at a press conference at the Uganda Media Center.
At the same press conference, Odrek Rwabwogo, Special Assistant to the President, said the summit was one of the efforts to grow Uganda's economy for the upliftment of its people and descendants.
He added: “The president said we're not going anywhere without the private sector.'' “Our country needs all the help it can get. Let's continue to grow the skills of our young people.''
Stephen Asimwe, CEO of the PSFU Secretariat, which coordinates all stakeholders for the summit, said that so far, 160 Ugandan companies have already registered to participate in the summit, the highest percentage. The main sectors are agriculture and agribusiness, and tourism. Hospitality, Professional Services, Transport & Logistics, Energy & Minerals, ICT.
Asimwe said the main objective of the summit was to promote the beauty and economic potential of Uganda to become Africa's leading destination for trade, tourism and investment.
South Africa is one of the fastest growing countries for foreign direct investment in Uganda as exports to Uganda.
In 2010 alone, Uganda attracted up to US$848 million in FDI.
“We also intend to work with the Ugandan diaspora in South Africa and build partnerships around the many opportunities they are working on. It is estimated that more than 500,000 Ugandans live and work in the South. It has been.”
