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Uganda best place to invest, Museveni assures Germany forum

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President Yoweri Museveni is in Berlin where he delivered a key-note address at the German-African Business Day Forum.

“I am here to show you that Uganda is the right place to go as far as investments are concerned and that, it is the right time to go,” he told the forum.

“Only 10 years ago, the purchasing power of Africa was US$ 500 billion. Today, the purchasing power of Africa is US$8.2 trillion.  By 2050, the purchasing power of Africa will exceed US$36.2 trillion.”

Museveni said that Uganda was an impressive investment destination with a population of 38 million people and is projected to grow to 120 million by 2050.

He urged them to regard Uganda and Africa in general as an investment destination for today and the future because of the growing purchasing power and the growing market.

Museveni concluded by saying that, “if Uganda’s consumption is growing, if Africa’s consumption is growing, it means Uganda and Africa in general are good destinations for investment.”

“I urge German and European companies to invest in Uganda and in Africa.  By so doing, they are, actually, supporting German and European prosperity as well as our own prosperity,” he added.

 

Museveni arrived early Thursday for a two-day working visit to boost trade and investment opportunities for Uganda.

The German-African Business Day is a high level German entrepreneurial investment summit meant to harness Africa’s enormous economic potential and opportunities for the benefit and development of the African people.

It is organised by the German–African Business Association (Afrika-Verein der deutschen Wirtschaft), a foreign trade association representing German companies and institutions with an interest in Africa. Through its well-established networks, the Association promotes exchange between German and African representatives from both business and politics. In doing so, the Association advocates a new conception of Africa in Germany: Africa as a continent of opportunity.

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Museveni addresses the forum (top) and above, accompanied by daughter Diana Kamuntu soon after arriving in Berlin. The President, who is making his maiden visit outside the country after his re-election, was received at Tegel North Military Airport by Uganda’s Ambassador to Germany MMarcel Tibaluka, the Chairman of Africa-Veren, organizers of the German Africa Business Day Dr. Stefan Liebing, Uganda’s Honorary Consul in Hamburg Prof. Dr. Manfred Dietrich and African Ambassadors to Germany. PHOTOS PPU

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It also recognizes that African markets are becoming ever more important for Germany.

During the visit Museveni will meet a number of German entrepreneurs and industrialists interested in the Ugandan economy and also travel to the Port City of Hamburg where he will be guest speaker at another German African Day forum organized by the Hamburg Chamber of Commerce, and meet more potential investors.

On day one, Museveni also made a case for Uganda as a tourism destination. Museveni reminded the investors  that Uganda’s geographical location was unique in the whole world except for Kenya and Ecuador. “It lies astride the equator but with high elevation and a lot of varied biodiversity providing ample food for agriculture and conducive climate all the year round.”

MUSEVENI KEYNOTE ADDRESS

 

Speech German-African Business Day 2 ne 2016Ju by The Independent Magazine

 

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Hamburg June 3, 2016

PHOTOGRAPHS: President Museveni on Friday addressed the Hamburg Chamber of Commerce. He told the chamber that “when we invite you to invest, its because we see strategic advantage; profitability for you, job creation for us.”

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