KAMPALA — Uganda and the Export-Import Bank of China (China EXIM Bank) have agreed to strengthen their strategic partnership aimed at accelerating Uganda’s industrialisation and long-term economic transformation.
Finance Minister Matia Kasaija met a high-level Chinese delegation led by China EXIM Bank Vice President Dr. Yang Dongning to discuss initiatives supporting Uganda’s next phase of growth.
ATMs to drive growth
Minister Kasaija highlighted that Uganda’s economic strategy will focus on ATMs — agro-industrialisation, export expansion, and value addition — targeting key sectors including coffee, cotton, tea, oil and gas, minerals, tourism, and science, technology, and innovation.
He said Uganda aims to move away from exporting raw materials toward processing, manufacturing, and higher-value exports, leveraging China’s zero-tariff policy to access global markets.
Strengthening investment and commercial ties
On behalf of the government, Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi joined Kasaija in expressing gratitude to China for its long-standing technical and financial support across sectors such as transport, energy, and health.
China EXIM Bank is committed to supporting a “Uganda Day” in China, a dedicated platform to showcase investment opportunities, connect Ugandan enterprises with Chinese manufacturers, and mobilise potential investors.
Both parties also agreed to scale up support for industrial parks, focusing on improving land access, utilities, and logistics infrastructure to enhance productivity and attract large-scale investments.
Diversified financing and skills development
China EXIM Bank reaffirmed its commitment to Uganda’s development through a diversified financing framework, including trade finance, blended financing models, equity investments, strategic partnerships, syndicated financing arrangements, and tailored financial products.
Minister Kasaija emphasised the importance of flexible and innovative financing structures to accelerate priority projects, while both sides highlighted the need to strengthen technical and vocational education and training (TVET) to develop a skilled workforce capable of supporting industrial expansion and meeting investor requirements.
This partnership positions Uganda to significantly expand its industrial and export capacity, deepening economic diplomacy with China and enhancing its attractiveness as an investment destination in Africa.