The New Year, 2024, is starting on a high for Uganda. We will host summits of the Non-Aligned Movement (NAM) and Group of 77 (G77) + China. The back-to-back summits will run from 15th to 23rd January 2024. The theme for NAM is; “Deepening Co-operation For Shared Global Affluence”, while that for G77+China is; “Leaving No One Behind”.

With NAM’s membership at 120 countries and G77+China, at 134, we have ‘the globe’, coming home. Delegations comprise Heads-of-State and Ministers from Asia, Africa, and Latin America.

President Museveni will assume the Chair of NAM, from his Azerbaijan counterpart, until 2027. Uganda will similarly take-over, from Cuba, the Chair of G77+China. We should ALL support our President, to deliver on behalf Uganda, the collective aspirations of NAM/G77+China.

Uganda will wield enhanced diplomatic clout, be in a stronger position to attract more investment, to open-up more markets for our exports and to promote our vast tourism menu. NAM/G77+China Kampala summits have business networking sessions, at which our private sector should present materials that sell.

Our impressive macro-indices should ease their pitch. Uganda’s GDP grew from USD 45.6 Billion in FY 2021/2022, to USD 49.5 Billion in FY 2022/2023. It is projected to rise to USD 55 Billion in FY 2023/2024, and to USD 60 Billion in FY 2024/2025. This arises from healthy annual economic growth, currently at 5.3%, and projected to rise to 6% in FY 2024/2025.

The structure of our economy has dominant segments, with services contributing at 42.4%, industry at 26%, and agriculture at 23%. This steady growth is premised on a solid foundation. Besides border-to-border peace/security, the NRM government has constructed core infrastructure like roads, dams, bridges, ICT/internet cables, etc.

Government has also revived Uganda Airlines, is expanding Entebbe International Airport, and completing construction of Kabaale International Airport, Hoima. All regions of Uganda are inter-connected, with paved roads, linking our key border points. Government is also refurbishing and extending the railway network, to slash haulage costs.

Industrial/ business parks are being opened, with land already allocated to over 500 entities. Criteria provide for attractive fiscal incentives, connectivity to stable electricity and clean water. Internet connectivity is supporting automation, including on-line company registration and processing investment licenses.

Our business fundamentals like forex rates, inflation and interest rates are stable/non-volatile. Indeed, Africa’s Risk Reward Index, 2023, by Oxford Economics, ranks Uganda the best investment environment in East Africa, and third most rewarding in Africa.

Besides the domestic market, investors in Uganda can access regional markets under the EAC, COMESA and Africa Continental Free Trade Area. Areas of potential include agriculture, services, ICT and manufacturing. And, Uganda has an abundance of natural resources like minerals, oil and gas, fresh water etc.

Fertile soils and good weather render Uganda ideal for producing organic food, which is on demand in the NAM/G77+China blocs. This can earn Uganda more forex, if processed, including through smart investment partnerships. Similar opportunities are opening-up under oil and gas, following the Final Investment Decisions, and the on-going infrastructure establishment.

Trade between Uganda and Asian and Latin American countries is aided by our central location in Africa, with connectivity by air and water, through major airports and sea-ports. Uganda Investment Authority will support NAM/G77+China actors with firm proposals.

We have a packed menu of tourism attractions, including the rarest animal and bird species on earth. Uganda boasts imposing mountains, vast water bodies, expansive wood-lands, thick topical rain-forests, etc. Delegates with tight schedules can take excursion tours around Kampala, Entebbe and Jinja. For those with more time, the ‘Pearl of Africa’ is beckoning. We recommend tour operators registered with Uganda Tourism Board.

NAM/G77+China, 2024, is an opportunity to shine a light on Uganda, ‘ripe’ for more investment, trade and tourism. Let’s engage in Kampala and after. Further information is available from the website: www.nam.go.ug and (X) Handle: @NAM_Uganda

Moses Watasa

Commissioner, Communication

Ministry of ICT & National Guidance