Munyonyo — The Permanent Secretary and Secretary to the Treasury (PSST), Ramathan Ggoobi, has assured investors from the United Arab Emirates of strong returns and a stable macroeconomic environment, calling Uganda “Africa’s next major investment hub.”
Speaking at the 4th Uganda–UAE Business Forum 2025 at Speke Resort Munyonyo, Mr Ggoobi said Uganda offers an average return on investment of 14% and a return on equity of 30% for listed companies, figures he described as “among the best on the continent.”
“Our pledge to you is that we shall do whatever is necessary to facilitate your investment,” Mr Ggoobi told the delegates. “Uganda is ready for business—our economy is diversified, resilient, and investor-friendly.”
He said Uganda’s economy grew by 6.3% in the 2024/25 financial year and is projected to expand by 7% in 2025/26 and the medium term. The country’s GDP now stands at USD 61.3 billion, underpinned by strong macroeconomic management and a pro-private sector policy environment.
“The macroeconomy is stable and well managed. The Government of Uganda is pro-private sector and provides generous incentives to investors,” he added.
Tenfold Growth Vision
Ggoobi revealed that the forthcoming National Development Plan (NDP IV) will be anchored on Uganda’s Tenfold Growth Strategy, which aims to grow the economy to USD 500 billion in the next 15 years.
He invited investors to explore opportunities in what he called the “ATMs and the Enablers” — Agriculture, Tourism, Minerals, and Manufacturing — sectors that form the backbone of Uganda’s industrialisation agenda.
“From coffee value addition to mineral processing and digital innovation, Uganda offers vast, bankable opportunities. We are not just talking about policy—we’re talking about people, systems, and leadership that ensure predictability and confidence,” Ggoobi emphasised.
Strong Currency and Export Growth
The PSST also underscored Uganda’s macroeconomic resilience, noting that the Uganda shilling remains the most stable currency in Africa, while inflation has stayed below the 5% target.
He reported that foreign direct investment inflows reached USD 3.7 billion in FY 2024/25, with exports totalling USD 13.4 billion, led by gold and coffee, and a balance of payments surplus of USD 1 billion. Tourism receipts also grew to USD 1.5 billion, with strong projections for further growth.
UAE Partnership Strengthened
Uganda’s Ambassador to the UAE, Amb. Zaake Kibedi, welcomed delegates to the final day of the three-day business forum, calling for deeper trade and investment cooperation between the two nations.
“Together, we can grow from millions to billions through innovation, quality, and partnership,” Amb. Kibedi said. “It’s time to turn dialogue into action.”
The 2025 Forum, themed “Invest in Uganda: Unlocking Opportunities for Sustainable Growth”, has attracted high-level participation from government, business, and industry, including representatives from Metro Cement, Jber Coffee, Gorilla Conservation Coffee, Fly Kea, Uganda Airlines, and the Sharjah Chamber of Commerce.
The event featured Business-to-Business (B2B), Government-to-Government (G2G), and Government-to-Business (G2B) engagements aimed at expanding trade, innovation, and investment partnerships between Uganda and the UAE.
