President Yoweri Kaguta Museveni has hosted former President of South Africa, H.E Jacob Zuma, at State Lodge Nakasero, where the two leaders discussed 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, describing their investment proposals as progressive and beneficial to Uganda’s industrialisation.
He reiterated the government’s commitment to supporting serious investors, particularly those targeting sectors that stimulate manufacturing and agricultural production.
President Museveni also emphasised the central role of affordable energy in driving economic transformation, noting that the government remains focused on ensuring that electricity costs remain low to support industries 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.
The President further stressed that Uganda is prioritising key economic enablers such as affordable electricity, railway transport, and accessible financing to strengthen the 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 said.
The discussions also highlighted Uganda’s continued push towards value addition and industrial development as part of efforts to expand exports, create jobs, and reduce the export of raw materials.
H.E Zuma thanked President Museveni for the warm welcome and assured him of continued investment cooperation between Uganda and South Africa.
Also present at the meeting was the Permanent Secretary, Ministry of Energy and Mineral Development, Eng. Irene Batebe, who is expected to spearhead further engagements with the South African delegation to identify specific areas of collaboration in the energy sector.