European Investors Pledge $5M Annual Investment to Expand Fish Farming Operations in Lake Victoria

President Yoweri Kaguta Museveni has called on European investors to seize opportunities in Uganda’s expanding market, particularly in agriculture, aquaculture, and environmental sustainability.

Speaking at his country home in Irenga, Ntungamo District, Museveni expressed concern over Europe’s declining investment presence in Africa, contrasting it with China’s growing influence.

“What happened to our relatives, the Europeans? Why don’t they come and invest?” he questioned, emphasising Africa’s projected population surge to 2.5 billion in the next 30 years as a massive market opportunity.

Museveni lauded existing European investments in Uganda, including liquid coffee production, avocado exports, and medical waste management, assuring government support to further strengthen these ventures.

Outlining a strategic environmental plan, he announced efforts to restore degraded wetlands by relocating farmers to the peripheries for sustainable fish farming. He also criticized swamp rice cultivation for damaging the tributaries of the Nile River.

Reaffirming his commitment to attracting foreign investments that drive economic growth while preserving the environment, Museveni’s call was met with enthusiasm from European investors.

Mr. Nico Van Vliet, representing the Uganda Flowers Exporters Association, welcomed the initiative, stating, “We see tremendous potential not only in the European Union but also in regional markets like Kenya and Ethiopia. We are committed to expanding our contributions to Uganda’s economy.”

Mr. Eric de Waan, from Yalelo Uganda, highlighted Uganda’s vast aquaculture potential, particularly in Lake Victoria. “Uganda offers the best conditions for fish farming. We plan to invest $5 million annually to expand operations,” he revealed.