Equity Group Leads High-Impact Trade and Investment Mission Across East Africa
Uganda Hails Equity Bank’s Regional Investment Initiative
Kampala, Uganda – Equity Bank has mobilized entrepreneurs from 17 countries for a landmark trade mission to Uganda, marking a significant step in boosting regional investment. The 3-day event at Four Points by Sheraton showcased Uganda’s growing economic potential.
“Equity Bank’s commitment to wealth creation aligns perfectly with President Museveni’s vision for inclusive economic growth across Africa,” said Evelyn Anite, Uganda’s State Minister for Finance.
Minister Anite emphasized Uganda’s investor-friendly environment, offering land and tax incentives for projects exceeding $10 million. Key sectors highlighted included:
- Value addition in iron ore and coffee processing
- Oil and gas development
- Technical and manufacturing investments
Expanding Regional Economic Partnerships
The week-long mission spanned Tanzania and Uganda, bringing together over 50 investors from Asia, Africa, Europe, and the Middle East. Equity Group’s Africa Recovery and Resilience Plan (ARRP) aims to:
- Redirect 2% of regional GDP to private sector development
- Create 50 million jobs by 2030
- Strengthen cross-border value chains
Sector-Specific Investment Opportunities
In Tanzania: Focus areas included agro-processing, renewable energy, and Zanzibar’s blue economy.
In Uganda: Priority sectors featured:
- Dairy processing and agri-tech
- Pharmaceutical manufacturing
- Textile production
- Mining development
Uganda’s Economic Outlook
Charles Olweny of Uganda’s National Planning Authority highlighted:
- 6.1% GDP growth rate
- 7.0% annual growth projections
- Stable economic fundamentals post-pandemic
“Uganda’s tourism sector holds immense potential, with 54% of the world’s mountain gorillas and ideal climate conditions,” noted Amos Wekesa, CEO of Great Lakes Safaris.
Building on Previous Successes
The mission follows Equity Group’s successful regional initiatives including:
- Kenya-DRC trade facilitation
- US-Tanzania investment forums
- India-Rwanda-Uganda partnerships
These efforts have contributed to implementing the Africa Free Continental Trade Area Agreement and creating a common East African market.
Source: The Independent Uganda