President Museveni hosted former South African President Jacob Zuma at the State Lodge Nakasero, where the two leaders held discussions aimed at strengthening trade and investment cooperation between Uganda and South Africa.
The meeting brought together government officials and investors to explore opportunities for collaboration in strategic sectors of the Ugandan economy including energy production, power transmission, irrigation and value addition of mineral resources.
President Museveni welcomed Zuma and his delegation and described their investment proposals as progressive and beneficial to Uganda's industrialization agenda. He reiterated the government's commitment to support serious investors, especially those focusing on manufacturing and agricultural production.
“Energy is the backbone of the economy and here either the government does it or it partners with private investors with soft capital, and we ensure that the cost of electricity is affordable to support manufacturing,” President Museveni said.
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The President emphasized that Uganda is focusing on key economic enablers such as affordable electricity, railway transport and accessible financing to strengthen the country's productive sectors.
He said, “We are very strict about the price of electricity, transportation by rail and the cost of money. We want to finance manufacturing and agriculture. These are essential; without them the economy will collapse.”
The discussions also highlighted Uganda's continued efforts towards value addition and industrial development as part of broader efforts to increase exports, create jobs and reduce raw material exports.
Former President Zuma thanked President Museveni for the warm welcome and reaffirmed his commitment to enhancing investment cooperation between Uganda and South Africa.
Engineer was also present in the meeting. Irene Batebe, Permanent Secretary in the Ministry of Energy and Mineral Development, who is expected to lead further talks with the South African delegation to identify specific areas of cooperation in the energy sector.