President Yoweri Museveni has asked European countries to seize Uganda’s and Africa’s growing economic opportunities and increase investment on the continent. This, he said, would foster shared prosperity between Africa and Europe.
The President made the call while meeting an Austrian delegation on the sidelines of the 19th Ministerial Meeting of the Coordinating Bureau of the Non-Aligned Movement (NAM) in Kampala. He told the delegation that Africa (and Uganda) remains a fertile ground for investment that Europe continues to overlook.
Said the President: “I feel sorry that Europeans are our relatives, speaking English like me … but the Europeans have not been taking advantage of that, and yet they are also near Africa.”
The President said that although Europe is closer to Africa and both continents have many things in common, the former has neglected the opportunities in Africa, including investment and business.
President Museveni compared Europe’s cautious approach with China’s robust engagement on the continent, emphasizing that while China has deepened trade, investment, and infrastructure cooperation, Europe remains hesitant.
The President said Africa’s vast landmass, youthful population, and demographic growth offer a massive consumer base and labour force, adding that with the right investments, both Africa and Europe stand to gain economically and politically.
“Europe should not miss this opportunity. Africa is ready for business and investment, and what we need are partnerships that add value to our raw materials, create jobs, and build our infrastructure,” said the President.
The Austrian Foreign Affairs Minister, Beate Meinl-Reisinger, who led the delegation, said Austria was developing a comprehensive strategy to strengthen its engagement with Africa. She said Austria is moving beyond traditional development cooperation and focusing more on trade and investment.
Said Meinl-Reisinger: “We see opportunities in Africa as a very young, dynamic, and innovative continent… your country’s average age is 16 years, and it’s truly amazing. So, I would very much appreciate intensifying our bilateral relations.”
The minister said Uganda and Austria are finalizing a memorandum of understanding on mobility and migration, which will allow more Ugandans to go to Austria for business, education, and professional opportunities.
Minister Meinl-Reisinger added that the European Union, through the Global Gateway Initiative, will channel 600 million euros towards sustainable agriculture, especially in coffee production, and climate change mitigation in Africa.
(Story reproduced from The Daily Monitor newspaper)
