President Yoweri Kaguta Museveni received an Austrian-based delegation who called on him at State House Entebbe to discuss Uganda’s carbon removal potential, among other issues.
The delegation was led by Mrs. Olivia Mugabe Mitterer, a Ugandan investment advisor; former consul general Mr. Karl Wipfler; H.E. Elisabeth Koestinger, the former Minister of Environment and Agriculture of Austria; Jakob Zenz and Paul Nimmerfall, the founders of EcoNetix.
President Museveni welcomed the Austrian entrepreneurs and urged them to exploit the opportunities available in the country.
“The Chinese have capital and entrepreneurship, and we have labour and land. So, I am very happy to see some European entrepreneurs,” he said.
The delegation presented a groundbreaking partnership aimed at positioning Uganda as a leader in the carbon markets. With over 3 million hectares of forest and 14 million hectares of agricultural land, Uganda has enormous carbon removal potential.
As part of this collaboration, EcoNetix is set to become one of Uganda’s implementation partners, helping to elevate the country’s farmers and forestry projects to new levels of sustainability and economic potential.
“EcoNetix is delighted to work with the government of Uganda to unlock its full carbon removal potential,” said Mr Jakob.
The initiative is expected to generate up to $500 million in investments, reinforcing the nation’s commitment to climate resilience while driving significant financial benefits for local communities.
The collaboration will focus on scaling up high-integrity carbon credit projects that align with Uganda’s sustainable development objectives.