President Yoweri Kaguta Museveni has called on Italian investors to partner with Uganda in agriculture, mineral processing, coffee production, electric vehicle manufacturing and technology transfer, emphasising the need for investments that promote local production, create jobs and accelerate industrialisation.
The President made the call while meeting a delegation of more than 80 Italian government officials, investors, business representatives and development partners at State House, Entebbe, on Saturday 7″h November, 2026.
President Museveni said Uganda and Italy had enormous potential to deepen their economic and diplomatic relations, urging European countries to support Africa’s industrialisation by investing in production and processing rather than relying on the export of raw materials
“hy would you want to do business with poor man if you really e understand that prosperity comes from business, from trade? Why do you want to trade with a poor man? 1l want my trading partner to be rich,” he said.
He explained that prosperity was driven by the production and exchange of goods and services with economic value
“Prosperity comes from business. If you want prosperity, you must do
business. Business means producing a good or a service of economic value and seling it. The more you sel, the more prosperous you become'” he said
The President noted that Africa’s continued dependence on exporting raw and semi-processed materials was denying the continent_ significant earnings, particularly in the agricultural and mineral sectors.
Using coffee as an example, President Museveni said Uganda earns slightly more than $2 per kilogramme of exported coffee, while fully processed coffee products fetch considerably higher prices in European markets
“This kilo in Europe is like $40 or more,” he said, arguing that establishing processing facilities in Uganda would enable the country to retain more value from its agricultural products
