TRADE & INVESTMENT: The Uganda- South Africa Trade, Tourism, and Investment Summit has opened today at the Gallagher Convention Center, Midrand, Johannesburg and in Pretoria South Africa.
The Business Summit is going to be attended by two the Heads of State of South Africa and Uganda
H.E Cyril Ramaphosa and H.E Yoweri Museveni, Ministers, Heads of Government Departments
and Agencies, Policy Makers, and the private sector.
The summit is going to provide a platform for the Private sector, companies and businesses to create
new markets and ways of how to facilitate doing business and identify existing and emerging
business or investment opportunities in Uganda and South Africa, from February 27th to 28th.
The business community will be provided with a networking platform to identify potential projects and partners for investment and collaboration. Jointly by the Government of Uganda and the Republic of South Africa, under the theme “Boosting Trade and Investment Relations Between South Africa and Uganda”, the summit will provide a platform for the business community and government agencies to identify existing and emerging business and investment opportunities of mutual benefit.
According to the Bukoto Central Constituency Legislator in Masaka District Eng. Hon. Richard Sebamala who is one of the participants said South Africa is one of the fastest growing sources of Foreign Direct Investment for Uganda as the South Africa’s exports to Uganda and he is looking forward to Link Bukoto Central to South Africa to attract foreign investment to the constituency and create partnerships with them on the many opportunities they are engaged in.
“There is a government program called Destination Uganda for trade investment and Tourism, so I’m going to attend to lobby investors to come to my constituency in Masaka to make it a tourism destination for Masaka region because we already have a beautiful lake shore on Lake Victoria, Buganda Cultural sites, etc.” Eng. Sebamala said.
The trade summit today February 27th 2023, starts with the plenary session followed by a panel discussion by technical experts on the bottlenecks and mechanisms for unlocking trade and investment potential between Uganda and South Africa.
Roundtable meetings with industry experts will follow, focusing on the opportunities of mutual benefit in the energy, oil and gas sectors, boosting African trade in value-added products and unlocking mutually beneficial business opportunities in infrastructure.
It is estimated that there are over 500,000 Ugandans living and working in Southern Africa. In 2010 alone, Uganda attracted FDI of up to US$ 848 million.
Over 300 delegates comprising business leaders, government agencies and investors from the two countries are in attendance together with over 160 businesses from the sectors of Agriculture and Agri-business, Tourism and Hospitality, Professional Services, Transport and Logistics, Energy and Minerals, and ICT.
South Africa is one of Uganda’s fastest-growing sources of Foreign Direct Investment and is leading in telecommunication, banking, energy and many others. Uganda, on the other hand exports pharmaceuticals products, coffee, Vanilla, Flowers and vegetables.
The South Africa – Uganda, Trade investment and Tourism summit is part of the government’s intentional initiatives to increase its export quota in the regional and international markets.
The other implementing partners are the Government of the Republic of Uganda’s Ministry
of Trade, Industry and Cooperative (MTIC), Ministry of Foreign Affairs, High Commission in Pretoria, Ministry of East African Community Affairs (MEACA), Uganda Export Promotion Board (UEPB), Uganda Investment Authority (UIA), Uganda Tourism Board, The Presidential Advisory Committee on Export and Industrial Development (PACIED) and the Presidential CEO Forum.