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Museveni Urges Europe to Capitalise on Africa’s Investment Potential

by Our Reporter
October 16, 2025
Museveni Urges Europe to Capitalise on Africa’s Investment Potential

Austria's Foreign Affairs Minister Beate Meinl-Reisinger (L) showing President Museveni some historical photos from Austria during a meeting on the sidelines of the NAM Ministerial meeting at Munyonyo

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President Yoweri Kaguta Museveni has called on European countries to leverage their geographic proximity and historical ties with Africa by increasing investments to foster mutual economic growth and prosperity.

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The President made the remarks on Wednesday, October 15, 2025, while meeting a high-level Austrian delegation on the sidelines of the 19th Ministerial Meeting of the Coordinating Bureau of the Non-Aligned Movement (NAM) at Speke Resort Munyonyo in Kampala.

Museveni’s Appeal for Increased European Engagement

President Museveni emphasised that Europe has largely overlooked the vast, untapped opportunities available on the continent. “I feel sorry that Europeans are our relatives, speaking English like me because I don’t speak Russian, but the Europeans have not been taking advantage of that, and yet they are also near Africa. They are not far away,” President Museveni remarked.

He even suggested, jokingly, that “some of the European countries should be members of the African Union,” given their historical and cultural connections. However, he noted, “But somehow, they have neglected the opportunities in Africa, including business investment.”

Contrasting Europe’s approach with that of Asian partners, the President stated, “When you see the Chinese come here and they are really doing great work, you wonder why our European people are totally sleeping.”

He reiterated that Uganda and Africa are ready to welcome more European investors, citing cultural and historical bonds that ease collaboration. “We have a lot of linkages – many Africans now speak English, some speak Portuguese, and many of them are Christians – so we have cultural and historical bonds that make collaboration easier,” he said.

Austria’s Foreign Affairs Minister Beate Meinl-Reisinger (L) shares a light moment with President Museveni during a meeting on the sidelines of the NAM Ministerial meeting at Munyonyo on Wednesday. PPU Photo

Highlighting Africa’s Demographic Advantage

President Museveni stressed Africa’s enormous potential in both population and resources.

He highlighted the continent’s size: “Africa is 12 times the size of India. You can fit India into Africa 12 times…”

He then focused on the continent’s rapidly growing market and labour force: “Until recently, the population of India was bigger than the population of the whole of Africa. But now, because of modern science, we have been able to suppress our enemies. At last, Africa is now 1.5 billion, and in the next 27 years, it will be 2.5 billion,” he said.

Austria Commits to a Comprehensive African Strategy

The Austrian delegation was led by Foreign Affairs Minister Beate Meinl-Reisinger, who confirmed a strategic shift in Austria’s approach to Africa. She informed the President that the Austrian government had decided to draft a comprehensive African Strategy to guide its future engagement.

Meinl-Reisinger acknowledged the long-standing partnership, noting, “We have been long-standing partners, and I think next year we will celebrate the 60th anniversary of our bilateral relations.”

She stressed that the focus is moving beyond aid: “Uganda and Austria have been partners in development cooperation, which has its limits, as you stated, but we are now also focusing on economic opportunities.”

The Minister praised Uganda’s youthful population as a key asset: “Your country’s average age is 16 years – it’s truly amazing. So, I would very much appreciate intensifying our bilateral relations,” she said.

Meinl-Reisinger also announced that the two countries are finalising an MoU on Mobility and Migration to facilitate greater movement of Ugandans to Austria for business and other opportunities.

Austria’s Foreign Affairs Minister Beate Meinl-Reisinger (3rd L) and her delegation pose for a photo with President Museveni on the sidelines of the NAM Ministerial meeting at Speke Resort Munyonyo

Reaffirming a commitment to a non-hegemonic partnership, she stated: “Austria is interested in a true partnership here. We need partners, especially in this now multi-polar system. We need multilateralism, we need cooperation, and of course, we need opportunities — also economic ones. So, we need Africa,” she concluded.

The Austrian Delegation was led by the Foreign Affairs Minister Beate Meinl-Reisinger (Head), Dr Simone Knapp (Austrian Ambassador to Uganda), Ambassador Peter Huber, and Raphael Lassmann.

The Ugandan delegation was led by Hon. Okello Oryem (Minister of State for Foreign Affairs), Mr Vincent Bagiire (Permanent Secretary – Ministry of Foreign Affairs), and other senior officials.

The meeting was held amid the 19th NAM Ministerial Meeting, which gathers representatives from over 120 countries to discuss global issues, including economic cooperation.

 

Tags: AfricaAfrica Economic PotentialAustriaEuropeMuseveniNAM Ministerial MeetingSoftPowerSoftPower NewsTop Uganda News

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