KAMPALA — The African Export-Import Bank (Afreximbank) is considering developing a dedicated country programme for Uganda as the government seeks financing and strategic partnerships to grow the economy tenfold to $500 billion over the next 15 years.
The proposal was presented on Tuesday by Afreximbank’s new East Africa Regional Director, Humphrey Nwugo, during a meeting with State Minister for Finance Henry Musasizi at the Finance Ministry headquarters in Kampala.
Under the proposed arrangement, Afreximbank would align its financing and interventions with Uganda’s development priorities, particularly in sectors identified as key drivers of the government’s ambitious economic transformation agenda.
Nwugo said the bank was committed to supporting Uganda’s growth plans, with particular focus on agro-industrialisation, tourism, mineral development and the infrastructure required to unlock investment and production in these sectors.
The proposed country programme would provide a framework for identifying priority projects and coordinating Afreximbank’s financing with Uganda’s investment pipeline.
Musasizi welcomed the proposal, saying Afreximbank’s planned interventions were in line with the government’s Tenfold Growth Strategy.
He said Uganda was ready to work with the continental lender to ensure that projects identified under the partnership move from planning to implementation.
Uganda’s growth strategy is centred on four priority sectors — agro-industrialisation, tourism, minerals, including oil and gas, and science, technology and innovation — commonly referred to as ATMS.
The government is targeting an expansion of the economy from approximately $50 billion to $500 billion within 15 years, an ambition that will require substantial investment in energy, transport, industrialisation and export-oriented production.
The strategy is also expected to increase value addition, boost exports and strengthen Uganda’s participation in regional and international markets.
Nwugo was accompanied by Afreximbank’s Senior Client Relations Specialist for East Africa, Farida Mukasa, and East Africa Client Relations Manager Daniel Katumba.
The planned country programme could strengthen Afreximbank’s role in financing Uganda’s priority projects at a time when the government is increasingly seeking private capital and development finance to support infrastructure, industrial growth and export expansion.
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