Uganda and Germany are strengthening economic ties through government-to-government negotiations. The talks, which started at the Ministry of Finance, aim to enhance cooperation in areas such as investment, technology transfer, industrialisation, and job creation. This move is expected to boost Uganda's economy, which is currently valued at less than $40 billion.
Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi urged Germany to increase investment in Uganda's priority sectors, including agriculture, tourism, minerals, science, and technology. He emphasized that the partnership should support Uganda's Fourth National Development Plan and its Tenfold Growth Strategy, which aims to grow the economy to $500 billion by 2040. This ambitious goal is expected to transform Uganda's economy and improve the standard of living for its citizens.
Ggoobi highlighted several areas where Germany can support Uganda, including water security, electricity access, and climate-resilient agriculture. He mentioned the proposed German support for River Enyau, electricity access in West Nile, and local economic development in northern Uganda through the SCALE programme. Additionally, he called for more predictable international funding, citing the pressure on public resources due to Uganda hosting about 2.05 million refugees and asylum-seekers.
The head of the German delegation, Joachim Schmitt, reaffirmed Germany's commitment to cooperation based on measurable results, accountability, and greater private-sector participation. He commended Uganda's refugee-hosting policy and highlighted Germany's support for climate resilience, regional health security, and sustainable development. Schmitt mentioned that Germany has supported the construction of six valley tanks in Karamoja, which is expected to improve water security in the region.
Schmitt emphasized that good governance, transparency, respect for human rights, and a predictable business environment are crucial for attracting investment and strengthening the partnership. He encouraged Uganda to maintain a stable and favorable business environment to attract more investors. This, he believes, will help drive economic growth and create jobs.
Both countries also called for faster implementation of existing projects, stronger trade and technology partnerships, and greater involvement of private businesses in driving economic growth. They agreed to work together to address the challenges facing the implementation of existing projects and to identify new opportunities for cooperation. This will help to ensure that the partnership is mutually beneficial and sustainable.
The negotiations between Uganda and Germany are expected to yield positive results, which will help to strengthen economic ties between the two countries. The partnership is expected to create jobs, stimulate economic growth, and improve the standard of living for Ugandans. Key areas of cooperation will include investment, technology transfer, and industrialisation.
Key points
- Germany has offered support for climate resilience, regional health security, and sustainable development in Uganda.
- Uganda aims to grow its economy to $500 billion by 2040 through its Tenfold Growth Strategy.
- The partnership between Uganda and Germany will focus on investment, technology transfer, industrialisation, and job creation.
