Museveni urges European investors to tap into Uganda's growing market

President Yoweri Museveni has issued a call to action to European investors, urging them to tap into Uganda's growing market and capitalise on its vast potential in agriculture, aquaculture, and environmental sustainability.

During a meeting at his country home in Irenga, Ntungamo District on February 15, 2025, President Museveni expressed concern over Europe's dwindling investment footprint in Africa, contrasting it with the rising influence of Chinese investors.

"What happened to our relatives, the Europeans? Why don’t they come and invest?" he remarked, highlighting Africa's projected population growth of 2.5 billion in the next 30 years as a lucrative market opportunity.

Museveni praised European ventures already established in Uganda, such as liquid coffee production, avocado exports, and medical waste solutions, pledging government support to bolster these investments. He also unveiled a strategic plan to restore degraded wetlands by relocating farmers to the peripheries for sustainable fish farming.

The President criticized swamp rice cultivation for harming the Nile River's tributaries, emphasising his commitment to fostering foreign investments that contribute to Uganda's economic development while ensuring environmental sustainability.

Investors welcomed President Museveni's call for stronger economic ties. Mr Nico Van Vliet, representing the Uganda Flowers Exporters Association, noted, "We see great potential for growth, not only in the European Union but also in regional markets like Kenya and Ethiopia. We are committed to contributing more to Uganda's economy."

Mr Eric de Waan, from Yalelo Uganda, highlighted the vast potential in aquaculture, stating, "Uganda has the best conditions for fish farming, especially in Lake Victoria. We aim to invest $5 million annually to expand operations."

The meeting was attended by various European investors, government officials, and representatives from the private sector.