Uganda Roundup: UAE ties, exports to Kenya, foreign direct investment
UAE-Uganda trade ties
The UAE Ambassador to Uganda, Abdalla Al Shamsi, highlighted the strong trade and investment ties between the two nations. Significant collaborations include investments in the aviation industry, oil and gas sector, and a 1 Gigawatt Solar Power Station. The UAE is also involved in the construction of Kidepo International Airport and tourist hotels within Kidepo National Park. The ambassador expressed optimism for the future of UAE-Uganda relations, with increased trade and economic growth. The two countries anticipate a future of mutual benefit and friendship.
Ugandans impoverished due to costly healthcare
An annual World Bank report shows that close to a million Ugandans are pushed into poverty due to costly out-of-pocket spending on healthcare. The report highlights the urgent need for enhanced financial protection, particularly for rural households, and recommends increasing government healthcare spending to address the issue. The inadequate supply of medicines and widespread theft in the health sector also contribute to the problem, local publication The Monitor reports
Exports to Kenya decline on trade disputes
Uganda's exports to Kenya have fallen by 9.09% in Q1 2024, largely due to a trade dispute between Nairobi and Kampala. This has led to a blockade of Ugandan goods like eggs, sugar, milk powder, and grains. This has forced Uganda to seek alternative markets in North and West Africa. Kenya and Uganda have agreed to resolve the trade disputes, but implementation remains uncertain, the Ugandan Standard reports.
Former parliament opposition leader considers presidency
Former Ugandan parliament opposition leader Mathias Mpuuga is considering running for president in 2026. According to Mpuuga the East African nation needs future leaders, and he will decide on his candidacy following a consultation with his supporters. He was suspended from the National Unity Platform (NUP) party in March by party leader Robert Kyagulanyi for allegedly receiving money from President Yoweri Museveni, which he claims was legal, VOA Africa reported.
Inclusion in top 10 African countries with most foreign direct investment
Uganda was among the top 10 African countries that attracted the most foreign direct investment in 2023. While the clean energy sector is a major draw, rapid economic growth and a youthful population also contribute to investment in the continent. Overall FDI inflows into Africa declined by 3%, but the continent saw significant expansion in greenfield investments, particularly in the clean energy sector. Some of the top countries attracting FDI included Egypt, South Africa, Ethiopia, Uganda, Senegal, Mozambique, Namibia, Nigeria, Cote d’Ivoire, and the Democratic Republic of Congo.
