Kampala –The first ever Uganda – South Africa business summit to be held in Pretoria from February 27th-1st March 2023 has been launched.
The business summit is being organized by the Private Sector Foundation Uganda (PSFU) in partnership with Uganda’s High Commission in Pretoria, Ministries of Foreign Affairs, Trade and Cooperatives, Privatization and Investment with support of the Presidential Advisory Committee on Export and Industrial Development (PACIED).
The summit will provide a platform for the private sector, government and regulatory agencies to freely exchange views, ideas and information on how to facilitate doing business, identify existing and emerging investment opportunities.
It will be attended by Heads of State of Uganda and South Africa; Yoweri Museveni and Cyril Ramaphosa respectively, Ministers, Heads of Government Departments and Agencies, Policy Makers, and the private sector from both countries.
During a press conference at Uganda Media Center on Tuesday, Evelyn Anite, the State Minister for Investment said that government will use the summit to attract more South African investments into Uganda and expand markets for Ugandan products.
“We have chosen to go to South Africa to get investors who are interested in coming to invest in Uganda and also to look for markets for our products. Our investment promotion agenda has expanded just beyond attracting Foreign Direct Investment (FDI) but also looking for markets for products,” said Anite
Paul Amoru, Uganda’s High Commissioner to South Africa said the summit will help bridge the trade gap between Uganda and South Africa.
“Exports of Uganda to South Africa in 2021/2022 were $27.34 million whereas on the other side, during the same period, South Africa imported to Uganda goods worth $126 million. The volumes of exports to South Africa are still low and this needs to change,” said Amb. Amoru
He noted that Uganda’s exports to South Africa include packaged medicaments, cotton, gold, fish fillets, raw tobacco, coffee and fresh flowers while South Africa’s exports to Uganda include machinery, motorcars, plastics, chemicals and electronics, parts and accessories, petroleum, live animals, books and news print, textiles, footwear, vehicles, aircrafts and household goods.
Lulama M. T Xingwana, South Africa’s High Commissioner to Uganda encouraged African countries to embrace trade amongst themselves if they are to benefit more from their resources.
According to Stephen Asiimwe, the Chief Executive Officer, Private Sector Foundation Uganda (PSFU), over 160 Ugandan businesses have so far registered to participate in the summit.
He notes that the highest percentage are coming from the sectors of Agriculture and Agri-business, Tourism and Hospitality, Professional Services, Transport and Logistics, Energy and Minerals, and ICT.
Asiimwe said that the main objective of the summit is to market Uganda’s beauty and economic potential of becoming Africa’s leading destination for Trade, Tourism, and Investment.
