President Yoweri Kaguta Museveni has called on Egyptian investors to bring their capital and entrepreneurial skills to Uganda, saying the historic connection between the two countries through the Nile should now fuel modern economic cooperation.
Speaking at the Egypt–Uganda Business Forum in Cairo, President Museveni, alongside Egyptian President Abdel Fattah El-Sisi, told over 200 business delegates that Uganda is open for investment and ready to become a key economic partner for Egypt.
“I could not come to Egypt without seeking wealth,” Museveni said, noting that while Uganda and Egypt have shared the Nile River for centuries, trade between the two countries remains low around $133 million.
“What we lack and what Egypt can help us with is capital and entrepreneurship,” Museveni told the gathering, which focused on strengthening trade and investment between the two nations under the theme: “Strengthening Trade and Investment Cooperation between Uganda and Egypt.”
President Museveni outlined Uganda’s strong investment potential, including, Abundant land and fertile soil, Reliable water resources and fisheries, Rich mineral deposits and A young and growing population expected to rise from 46 million to 106 million in 25 years.
“Business is about goods and services, not just words,” he said. “We have the land and labour. What we need is capital and business know-how to unlock this potential.”
Museveni said Uganda’s progress to lower middle-income status was the result of deliberate economic planning, but more external investment was needed to sustain growth.
Museveni stressed that production without markets leads to failure, citing an earlier example where Japan declined to assemble vehicles in Uganda. Today, Uganda manufactures its own vehicles, importing only batteries.
He called for greater African market integration, reminding leaders of the need to trade more across the continent:
“First, let Uganda buy from Egypt and Egypt buy from Uganda, then let us work with the rest of Africa.”
He warned that without unity, Africa could face the same fate as parts of Latin America — rich in resources but poor in outcomes.
President El-Sisi welcomed Museveni warmly, calling Uganda a “key partner in the Nile Basin.” He pledged to increase trade beyond the current levels and promised Egypt would play a greater role in regional cooperation.
Egypt’s Minister of Investment and Foreign Trade, Hassan El Khatib, said the forum opened a “new chapter” in Egypt–Uganda relations, with opportunities in, Agriculture, Manufacturing and Infrastructure and logistics
Uganda’s Finance Minister Matia Kasaija highlighted trade growth to $138 million in 2024, with Egypt exporting $112 million worth of goods to Uganda. However, he said this figure is still far below potential.
He invited Egyptian companies to invest in Uganda’s agriculture and value addition, including sectors like, Cassava processing, dairy production and Agro-industry development.
Several Memoranda of Understanding (MoUs) were signed at the forum, focusing on joint ventures, infrastructure, and agricultural partnerships.
Both governments expressed confidence that these agreements would lead to increased trade, stronger business ties, and real economic transformation in the years ahead.
President Museveni also thanked Egypt for supporting the establishment of a foot-and-mouth disease vaccine plant in Uganda a key step in improving livestock health and boosting agricultural exports.
