French Chambre of Commerce Uganda (FCCU) Officially Launched

Summary:

• French Chambre of Commerce Uganda (FCCU) launched in Kampala, marking the first EU Chamber in Uganda. French firms pledge over $4 billion investments, lead in sectors like energy and training, aiming for inclusive growth.

---

KAMPALA, (Examiner) – On Wednesday, the French Chambre of Commerce Uganda (FCCU) was inaugurated at the French Residence in Kampala, becoming the first Chamber of Commerce of a European Union member country in Uganda. The launch ceremony highlighted the pivotal role of French enterprises in Uganda’s economic landscape, revealing ambitious investment plans exceeding $4 billion over the next three years.

French Ambassador to Uganda, Xavier Sticker, underscored the burgeoning economic ties between France and Uganda during a press conference. “French companies have shown unwavering dedication to Uganda’s economic progress,” Ambassador Sticker noted. “The establishment of FCCU underscores our commitment to fostering deeper bilateral economic relations.”

Central to the event were two key milestones: the presentation of a comprehensive report on the impact of French firms in Uganda and the formal establishment of FCCU. The report, jointly compiled by Uganda Foreign Trade Advisors (CCEF) and the Economic Department of the French Embassy, highlighted significant achievements:

Leading Investors: French companies have emerged as Uganda’s largest foreign investors, growing from nine firms in 2010 to 40 today. In 2023 alone, these enterprises generated $875 million in sales and employed over 3,000 Ugandans, with women comprising 30% of the workforce. Investments from French firms doubled between 2022 and 2023, amounting to $1.6 billion, representing 53% of Uganda’s total foreign direct investment (FDI).

Economic Transformation: French businesses are pivotal in Uganda’s economic diversification across sectors such as agriculture, energy, digital technology, electric mobility, logistics, and transport. Notably, three French firms control a quarter of Uganda’s solar power capacity, supplying green electricity to more than 120,000 households.

Investment in Human Capital: In 2023, French companies provided over 46,000 hours of training to their employees and funded educational scholarships to support Ugandan youth in advancing their academic pursuits and skill sets.

Ambassador Sticker emphasized the broader impact of these investments, stating, “The FCCU will not only enhance economic relations but also foster sustainable and inclusive growth. Our aim is to support Uganda’s journey towards modernization and prosperity, ensuring that our investments benefit all segments of society.”

With 63 members comprising both French and Ugandan enterprises, FCCU aims to facilitate partnerships and offer a spectrum of services to strengthen economic bonds. The integration of the Kampala Business Club into the international network of Chambers of Commerce and Industry (CCI), sanctioned by the CCI’s General Assembly on June 25, 2024, marks a significant stride in enhancing economic collaboration between France and Uganda.