Museveni and Jacob Zuma Hold Talks on Investment and Economic Cooperation

President Yoweri Museveni has hosted former South African President Jacob Zuma at State Lodge Nakasero for high-level discussions focused on strengthening business and investment cooperation between Uganda and South Africa.

The meeting brought together government officials and investors to explore opportunities in key sectors of Uganda’s economy, including energy generation, power transmission, irrigation, and value addition to mineral resources.

Museveni welcomed Zuma and his delegation, describing their investment proposals as progressive and aligned with Uganda’s industrialization agenda. He reaffirmed government commitment to supporting serious investors, especially those focused on manufacturing and agricultural production.

“Energy is the bone marrow of the economy. The government either does it alone or partners with private investors with affordable capital to ensure the cost of power remains low to support manufacturing,” Museveni said.

He further emphasized Uganda’s focus on key economic drivers such as affordable electricity, railway transport, and accessible financing to strengthen productive sectors.

“We are very strict on the price of electricity, transport by rail, and the cost of money. We want to fund manufacturing and agriculture. These are a must; without them, the economy will collapse,” he added.

The discussion also highlighted Uganda’s continued push to promote exports, create jobs, and reduce the export of raw materials in unprocessed form.

Former President Zuma thanked Museveni for the warm reception and reaffirmed his commitment to deepening investment cooperation between Uganda and South Africa.

Also present was Eng. Irene Batebe, Permanent Secretary at the Ministry of Energy and Mineral Development, who is expected to lead further engagements with the South African delegation to identify specific areas of collaboration in the energy sector.