Pretoria – Uganda seeks to increase trade with South Africa and invites businessmen with interest in East Africa to consider exploring Uganda’s various business and investment opportunities.
The country through the Uganda High Commission in Pretoria is inviting businesses to explore investment in sectors such as agribusiness, infrastructure, real estate, recoverable oil and gas, copper, gold, cobalt, limestone, and various other minerals among others.
Other key sectors of the Ugandan economy include the processing of agricultural products, the manufacturing of light consumer goods and textiles, and the production of beverages.
“The Uganda High Commission in Pretoria is delighted to extend an invitation to South African businesses and entrepreneurs to participate in a trade mission to Kampala, Uganda. This trade mission, organized in collaboration with Wesgro and the Agribusiness Development Corporation, presents an excellent opportunity to explore trade and partnership potentials in Uganda”, said High Commissioner of Uganda to South Africa Paul Amoru.
As part of Wesgro’s international trade and outward investment mission program for 2023/24, Uganda seeks to foster bilateral relations and uncover new avenues for trade and investment between South Africa and Kampala.
With a strong focus on the agricultural sector, Amb. Amoru said the mission will provide networking sessions and business-to-business meetings tailored to the specific areas of interest of the participating delegates.
“The importance of agriculture cannot be overstated, as it employs 72% of the workforce in the Western Cape and contributes to 24% of the region’s gross domestic product (GDP),” he said, adding that Uganda provides tremendous potential for South African businesses looking to expand their operations internationally.
South African exports to Uganda have primarily consisted of apples and pears, valued at USD 1.87 million, which accounts for 13.53% of all exports from the Western Cape. Wine exports rank second at a value of USD 1.80 million (12.85%), followed by agricultural crop protection products such as insecticides, rodenticides, fungicides, herbicides, and anti-sprouting products, valued at USD 1.22 million (8.81%). Together, these three categories make up 35.19% of the total product exports.
Amb. Amoru pledges to deepen bilateral ties and promote commercial & economic diplomacy.
He reiterates that Uganda has established firm frameworks of cooperation with key departments of South Africa through the Department of International Relations and Cooperation (DIRCO) to Promote trade and investment.
Uganda and South Africa have now signed many agreements including an Agreement on the promotion and protection of investments, an Agreement on Bilateral trade, agreements establishing a Joint Commission of Cooperation (JCC), an MoU on cooperation on tourism, MoU on cooperation in Transport related matters and MoU on cooperation in the field of ICT among others.
The trade mission to Uganda will undoubtedly create a platform for South African businesses to establish valuable connections, explore trade partnerships, and unlock new avenues of growth in the Ugandan market.
The mission will investigate opportunities for outward investment in Uganda and establish firm trade relations with companies and other key strategic partners. The objective of matching South African and Ugandan businesses for possible partnership and enhance trade and investment flow between our two countries.
This follows an inaugural session of the Uganda-South Africa trade, tourism, and investment summit hosted by DTIC from 27th to 28th February 2023 at Gallagher Convention Center in Midrand, Gauteng on the sidelines of the State Visit of President Museveni to South Africa from 28th to 1st March 2023 on the invitation of President Ramaphosa.
In June 2023, Wesgro hosted in collaboration with the Uganda High Commission in Pretoria a significant Business Forum in Cape Town, where potential investors committed to participate in this scheduled trade mission to Uganda now confirmed to run from 25th to 30th September 2023. This mission is expected to involve the participation of over 50 companies.
The Uganda High Commission in Pretoria, in partnership with Wesgro and the Agribusiness Development Corporation, encourages South African businesses to express their interest in participating in this trade mission or request further information by contacting the Ugandan High Commission.
