France Commits to $3 Billion Investment in Uganda Over Three Years

Summary:

• France pledges to invest up to $3 Billion (UGX 12 trillion) in Uganda over three years, focusing on sectors like agriculture and oil. Both nations affirm commitment to mutual development goals.

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Mr. Xavier Sticker, the Ambassador Extraordinary and Plenipotentiary of France to Uganda, announced that France plans to invest up to $3 billion (UGX 12 trillion) in Uganda over the next three years. This declaration came during a bilateral meeting held with Ugandan Minister of Foreign Affairs General Jeje Odongo at the Ministry’s offices in Kampala on Tuesday, February 27, 2024.

Mr. Sticker emphasized France’s firm commitment to significantly investing in Uganda’s socio-economic development. He specified that USD 3 billion, equivalent to UGX 12 trillion, will be strategically allocated across key sectors such as agriculture and oil and gas, aimed at fostering sustainable growth and prosperity in Uganda.

The meeting also highlighted the shared commitment of both nations to enhance ties across various sectors of mutual interest. General Odongo expressed appreciation for France’s investment commitment, seeing it as a testament to the strong friendship and partnership between the two countries.

General Odongo stated, “This significant contribution will undoubtedly bolster Uganda’s efforts to achieve its development goals and enhance the well-being of its citizens.” Both parties affirmed their dedication to maintaining constructive dialogue and collaboration to achieve common objectives, thereby strengthening the enduring partnership between Uganda and France.

The Minister lauded France’s unwavering support and partnership and anticipated the successful execution of projects that will benefit both nations.

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