Munyonyo – Uganda is positioning itself as a prime destination for investment and trade with the United Arab Emirates, emphasising its strategic location, economic stability, and agricultural potential.
Speaking at the Uganda-UAE Business Forum held at Speke Resort in Munyonyo, Patrick Ayota, Managing Director of the National Social Security Fund (NSSF), highlighted opportunities for collaboration that could accelerate Uganda’s economic growth and strengthen bilateral ties.
“Uganda is accessible, diverse, and ready for investment and tourism,” Ayota said. “From Entebbe, you can reach Cairo, Lagos, or Johannesburg within just 3.5 hours, giving investors access to three-quarters of the African market.”
Ayota stressed that Uganda has long been recognised for its potential. “Even in 1904, Winston Churchill observed: ‘Concentrate upon Uganda. Nowhere else will the results be more brilliant, more substantial, or more rapidly realised.’ Today, that potential remains, supported by excellent infrastructure, thriving culture, and exceptional wildlife experiences.”
Economic Stability and Investment Data
Highlighting Uganda’s financial environment, Ayota noted the stability of the Uganda shilling. “Over the past five years, a $10,000 investment in Uganda would now be $10,695. Compared to neighbouring currencies, the shilling is remarkably stable, making Uganda a safe place for long-term investment,” he said.
Ayota also emphasised investor-friendly policies, noting the absence of foreign exchange controls and predictable conditions for UAE investors. “The Uganda shilling is increasingly becoming a currency of safety for investors. In fact, Uganda was named the best investment destination in Africa in 2024 by a congress in Abu Dhabi.”
UAE-Uganda Collaboration in Agriculture
Ayota outlined a unique opportunity for Uganda to partner with the UAE on food security. Referencing the UAE’s National Security Strategy 2051, he explained: “The UAE aims to increase domestic food production from 20% to 50% by 2051. They are investing in vertical farming, hydroponics, and organic farming, and they are seeking international partnerships.”
He projected that, with the right agricultural partnerships, Uganda could achieve a $500 billion economy by 2035—five years ahead of previous estimates.
A Call for Investment
Ayota concluded with a call for UAE investors to explore opportunities in Uganda’s agriculture and trade sectors. “This is a chance to converge destinies—Uganda and the UAE working together to secure food security, strengthen investment, and create economic growth,” he said.
He invited investors to engage directly with the Ugandan Embassy and experience the country’s potential firsthand.