In the mid-morning of 12th August, 2022, over 500 investors and government officials from Uganda and Somalia met at Speke Resort Munyonyo to witness an event never seen before in Uganda.
In full view of H. E Yoweri Kaguta Museveni, President of the Republic of Uganda and H.E Hassan Sheikh Mohamud, the President of Somalia, the two countries entered into a Memorandum of Understanding to promote investment between the two countries. Uganda was represented by Morrison Rwakakamba, Chairman of the Board, Uganda Investment Authority and Mr Abdirashid Xaaji representing Somalia Invest.
Speaking at this event, H.E Yoweri Museveni said “In order to achieve prosperity, we need a market which is integrated. Business people both in Uganda & Somalia should help us unite our countries”
In His remarks, H. E Hassan Sheikh Mohamud said” The Uganda-Somalia Investment & Business Summit offers opportunities for investment & trade. Somalia is open, safe and ready for investment and business with Uganda”.
The MOU on investment officially also launched the Uganda-Somalia Investment & Business Commission which will promote investment & business between the two countries.