Uganda and the European Union (EU) have deepened their commitment to strengthening trade and investment ties, focusing on Agricultural Technology (AgriTech) and Sustainable Mining as key drivers for economic growth.
The Uganda-EU Business Insights 2025, held at Mestil Hotel in Kampala, provided a high-level platform to accelerate European investments in Uganda’s agriculture and mineral sectors, while addressing policy frameworks, trade facilitation, and technology transfer.
Leading the discussions were EU Ambassador to Uganda, H.E. Jan Sadek, Private Sector Foundation Uganda (PSFU) Chairman, Humphrey Nzeyi, and key government ministers: Hon. Matia Kasaija (Minister of Finance, Planning, and Economic Development), Hon. Phiona Nyamutoro (Minister of State for Mineral Development), and Hon. Francis Mwebesa (Minister of Trade, Industry, and Cooperatives).
The Uganda-EU Business Insights 2025 is a high-level business and investment forum aimed at strengthening economic ties between Uganda and the European Union (EU). Building on the success of previous Uganda-EU Business Forums, this year’s event focused on unlocking investment potential, fostering trade partnerships, and promoting industrial value addition in Uganda’s mining and agricultural sectors. The forum was organised under the Sustainable Business for Uganda (SB4U) Initiative, which facilitates business linkages and investment flows between Uganda and Europe.
Key discussions revolved around expanding Uganda’s exports to the EU, improving compliance with EU trade regulations, promoting responsible mineral development, and scaling AgTech innovations. The event featured panel discussions, business-to-business (B2B) meetings, investment pitching sessions, and exhibitions.
Additionally, seven new Team Europe initiatives worth EUR 30 million (UGX 120 billion) were launched, reinforcing the EU’s commitment to Uganda’s economic transformation, job creation, and sustainable growth. The event reaffirmed that Uganda and the EU remain strong trade and investment partners.
The forum also provided a platform for 20 Ugandan enterprises to pitch bankable projects to European investors.
EU Ambassador Jan Sadek: “EU and Uganda is a Partnership That Delivers!”
EU Ambassador Jan Sadek emphasised that Uganda’s growing trade relationship with the EU is a major success story, highlighting the remarkable growth in exports:
“The Uganda-EU trade relationship is thriving, and Uganda’s exports to the EU have nearly doubled, from 500 million Euro in 2019 to 900 million last year – a remarkable achievement. And today, Uganda enjoys a positive trade balance with the EU – some 150 million Euro. Let’s applaud these achievements!”
He reaffirmed the EU’s long-term commitment to Uganda’s economic development, stating:
“We are not just investing in Uganda; we are building a future together. Uganda and the EU—this is a partnership that delivers!”
Sadek emphasised that the EU’s approach to Uganda is not about short-term wins, but about creating sustainable, long-term economic impact.
“We believe in long-term, mutually beneficial partnerships—not quick wins, but real, lasting impact,” he declared.
He noted that Uganda offers one of the highest returns on investment in Africa, making it an attractive destination for European investors:
“Uganda has the highest return on investment in East Africa at 13.8%, and the EU remains the largest source of Foreign Direct Investment (FDI) into Uganda.”
Uganda’s Mineral Sector: A Global Investment Destination
Uganda’s mineral sector is experiencing a surge in investment, driven by new regulatory reforms and increased foreign interest, Hon. Phiona Nyamutoro, Minister of State for Mineral Development, reassured stakeholders and said that the government was committed to providing a stable investment environment:
“Uganda, like many other African countries, is naturally endowed with a variety of minerals that we are continuously discovering by the day. Our strategic objective as government is to promote value addition within the country so that we can capitalise on employment creation, industrialisation, and local content development.”
Nyamutoro reiterated Uganda’s policy against exporting raw minerals, emphasising that investors must contribute to the country’s industrialisation efforts: “As we continue to attract lucrative investments, we emphasise that value must be added.”
The Mining and Minerals Act 2022 provides a robust legal framework for investors, ensuring compliance with Environmental, Social, and Governance (ESG) standards. She said that Uganda is currently seeing major investments in mineral processing, including integrated steel plants, the Wagagai Gold Project, Rwenzori Rare Earth Metals, the Blencowe Graphite Project, six cement factories, and over eight gold refineries. These investments are expected to drive industrialisation, employment creation, and regional trade integration.
To enhance investor confidence, Uganda has finalised high-resolution airborne geological mapping, with Nyamutoro announcing: “Just about a week ago, we launched the last section that was missing on the map, which was Karamoja sub-region and Lamwo. So I think that is a great achievement that we should all acknowledge.”
She also addressed concerns regarding gold traceability, assuring investors:
“Gold is still having very many loopholes in terms of traceability. But as Minister for Mining, I want to assure you that the ministry is doing its best to ensure that the gold trade business becomes as transparent and open as possible, not just to the country, but to the entire world.”
AgriTech: Uganda’s Key to Global Competitiveness
Agriculture remains the backbone of Uganda’s economy, with over 70% of Ugandans employed in the sector. Hon. Francis Mwebesa emphasised that AgTech innovations will transform the industry:
“Precision farming, digital tools, and innovative farming techniques will not only improve yields but also attract more investment into agribusiness.”
The EU is actively supporting Uganda’s agricultural transformation, through initiatives like Sustainable Business for Uganda (SB4U), which supports trade facilitation, certification, and value addition.
The government is also working with the EU to comply with the new EU Deforestation Regulation (EUDR), ensuring that Uganda’s agricultural exports remain competitive in European markets.
Nzeyi: “The EU is Uganda’s Most Significant Trading Partner”
PSFU Chairman Humphrey Nzeyi emphasized the central role of EU-Uganda trade relations, noting that Uganda’s private sector is strategically aligning itself with European markets to scale up exports, attract investment, and leverage EU-backed trade programs.
“The European Union provides Uganda access to 27 countries with a market size of over 449 million people. Our exports and imports with these countries have shown promising growth trajectories, indicating the potential for further expansion and collaboration,” Nzeyi stated .
He highlighted that the EU is Uganda’s largest trading partner, with trade volumes nearly doubling since 2020, making it a crucial market for Uganda’s agricultural and mineral exports.
He acknowledged the collaborative efforts between the EU and Uganda’s private sector, particularly in helping Uganda meet EU trade standards, which has led to increased market access and greater export diversification.
Nzeyi set a bold target for Uganda-EU trade growth, revealing that Uganda aims to surpass 1 billion Euros in exports to the EU by the end of 2025, making the EU Uganda’s largest export destination, overtaking Asia.
“When Jan (Ambassador Sadek) and I first began this journey, he set a target of doubling our trade, and I am happy, Jan, that we are on the correct trajectory. This has proved not to be an overly ambitious target but rather a realistic goal,” Nzeyi affirmed.
Uganda and the EU – A Partnership for the Future
The Uganda-EU Business Insights 2025 reaffirmed Uganda’s position as a top investment destination in Africa, with a strong focus on mineral value addition and AgTech innovation.
With new investment deals, strategic EU collaborations, and regulatory reforms, Uganda is well on its way to achieving its National Development Plan goals and transforming into a middle-income economy.
As EU Ambassador Jan Sadek aptly put it: “We are not just investing in Uganda; we are building a future together. Uganda and the EU—this is a partnership that delivers!”