Nabbanja lures more investors at Uganda-UAE summit

KAMPALA - Uganda Prime Minister Robinah Nabbanja has lured more investors from the United Arab Emirates to exploit the enormous business opportunities in Uganda.

Nabbanja made the call while addressing business executives, senior government officials and diplomats, among others, during the ongoing fourth edition of the Uganda-United Arab Emirates (UEA) Business Summit at Speke Resort Munyonyo in Kampala.

Nabbanja interested the investors to the four critical areas of investment Uganda has pointed on its National Development Plan IV to the achieve ten-fold economic boost from $61.3b to $500b by 2040, which include agro-industrial development, tourism development, mineral-based development including oil and gas and science, technology and innovation, including information communication technology (ICT) and the creative arts.

The three-day summit from October 27-29, 2025, is being held under the theme: Unlocking Opportunities: Building Bridges Through Trade and Investment.

(L-R) H.E Sultan Jemei Al-Hindaasi (Fujairah Chamber of Commerce and Industry, UAE), Robinah Nabbanja (Prime Minister of Uganda) and Dr. Musenero Masanza (Minister of Science, Technology, and Innovation in the Office of the President) attending the Fourth Edition of UAE-Ugaanda Business Forum at Speke Resort Munyonyo in Kampala, on Oct 28 2025. (Credit: Hajarah Nalwadda)

In the summit, the delegates from the two countries are deliberating on strengthened parameters of trade and investment as Dubai emerges as Uganda’s lead export destination.

Nabbanja disclosed that the trade and investment between the two countries, facilitated by warmer diplomatic relations facilitated by the top leadership, has greatly expanded in the last seven years. 

“The UAE has now become Uganda’s largest export destination, with bilateral trade reaching $2.85b (about shillings 8.9 trillion). In addition, the value of UAE investments in energy, infrastructure, healthcare, agribusiness, oil and gas, manufacturing, real estate, and tourism in Uganda has $3.5b (about shillings 12.2 trillion),” Nabbanja said.

She added: “The co-operation has been reinforced through three visits by H.E. the President of Uganda to the UAE once this year and twice last year, as well as the visit to Uganda by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the UAE, in May this year.”

According to Nabbanja, during the visit of Al Nahyan, six memorandums of understanding (MOUs) between the two countries, covering critical areas, including investment, capacity-building, energy, transport, ICT, and the waiver of visa requirements, were signed.

United Arab Emirates (UAE) delegates attending the Fourth Edition of UAE-Uganda Business Forum at Speke Resort Munyonyo in Kampala, on Oct 28 2025. (Credit: Hajarah Nalwadda)

The MOUs, according to Nabbanja, are indicators of ‘our’ deep economic cooperation and a shared commitment to sustainable development and socio-economic transformation. 

Nabbanja lured more UAE business personalities to invest in Uganda, highlighting that the East African country was the most peaceful in the region with a well-performing economy per the latest rankings of the International Monetary Fund (IMF).

According to the IMF, Uganda ranks seventh among the fastest-growing economies in the world.

According to the IMF report released in Washington DC in mid-October, in the East African region, it is only Uganda, Rwanda and Ethiopia named, and in the whole Africa it is only four countries highlighted, including Benin.

The report attributes the growth of these countries to efforts made to improve infrastructure and evolving industrialisation.

Zaake Kibedi, Ambassador of Uganda to the United Arab Emirates (UAE), speaking during the Fourth Edition of UAE-Ugaanda Business Forum at Speke Resort Munyonyo in Kampala, on Oct 28 2025. (Credit: Hajarah Nalwadda)

“Uganda is richly endowed with fertile soils, abundant water, and favourable weather. Uganda has been consistently ranked among the world’s top tourism destinations. Uganda is now connected by tarmac roads, from East to West, and from North to South. Our stock of tarmac roads is now 6,199km. Our electricity generation capacity has increased to 2,052 megawatts, and our plan is to raise it to 52,000 megawatts by 2040,” Nabbanja said.

According to Uganda’s Ambassador to UAE, Zaake Kibedi, foreign direct investments from the UAE to Uganda grew from $300m (about sh1 trillion) in 2018 to where it is today. Due to the progressing trade between the two countries, Kibedi said six daily commercial flights happen between Entebbe and Dubai.

“The forum is a high-level avenue to enhance trade, investment and innovation links between the two countries. The UAE is one of the fastest-growing economies not only in the Gulf region, but across the world,” he said.

The forum included field visits, plenary sessions, and high-level panel discussions, among others. “Our aim is to strengthen bilateral partnerships for investment, trade, tourism and innovation,” Kibedi said.

The forum also showcased innovative products and services and business models in an attempt to influence policy dialogue to create an enabling environment for business.

The Forum was organised by the Uganda Embassy – Abu Dhabi and the Uganda Consulate General – Dubai, in collaboration with the UAE Embassy in Kampala, Abu Dhabi Department for Economic Development, Abu Dhabi Chamber of Commerce, Dubai Chambers and the Ministry of Foreign Affairs in Kampala.”

Evelyn Anite Kajik, Minister of State for Finance, Planning and Economic Development (Privatisation and Investment ), speaking during the Fourth Edition of UAE-Ugaanda Business Forum at Speke Resort Munyonyo in Kampala, on Oct 28 2025. (Credit: Hajarah Nalwadda)

According to Kibedi, the community of Ugandans living in the Middle East has expanded, attributing it to the kindness and hospitality of the people in the country. He reported that the number of Ugandans living and working in the UAE has boosted from 40,000 people in 2018 to over 160,000 in 2024.

According to the minister for investment, Evelyn Anite, since the first Uganda-UEA Forum, there has been a great boost in terms of investment. The forum, she added, is giving confidence to the Ugandan businessmen and women, and the trade relationship between UAE and Uganda is getting stronger.

“Initially, Ugandans did not know how to access the UAE market; now they know how to access the UAE market, that is why the Ugandan traders are now able to take their products and go to trade in UAE,” Anite said.

She introduced the key opportunities in Uganda to the business personalities in the areas of fintech, saying Ugandans need access to credit. The other areas she cited are in railway, water transport and minerals such as gold processing.

The minister of science and technology, Monica Musenero, briefed the forum that Uganda was undertaking an ambitious technological agenda, including Hitch City, which will be administered as a corporation to facilitate technology-related investments.