Pan-African Congress Business Forum Launched to Boost Uganda’s Exports to the U.S.

The Pan African Congress Business Forum (PACBF) is set to take place from October 6th -12th, 2024 at Munyonyo Commonwealth Resort in Kampala.

Hosted by the Presidential Advisory Committee on Exports and Industrial Development (PACEID) in partnership with the Africa Global Chamber of Commerce (AGCC), private sector in Uganda and the United States, the event aims to enhance Uganda’s exports to the United States.

Mr Odrek Rwabwogo, the Chairman of the Presidential Advisory Committee on Exports and Industrial Development

Organized under the theme, “A Diaspora Homecoming: Navigating the Next 100 Years”, the event borrows from the historical Pan-African congresses to make a business case for Africa’s diaspora as the most pivotal economic growth agents over the next century. It further aims to leverage cross-Atlantic regulatory frameworks to strengthen engagements with multinational corporations and deepen partnerships with the African-American diaspora.

On July 1, 2007, President Yoweri Kaguta Museveni said, “There is tremendous potential in Africa. Africa is a continent of the future. Just like India and China have become superpowers, in the next 25 years a lot of changes will have taken place.”

The event will be attended by business and government leaders from the East African region, plus the leading multinational agencies, financial institutions, experts in manufacturing, tourism, exports and trade from the rest of Africa. This will provide a platform for networking, collaboration, and knowledge sharing. The event will focus on identifying products and services in demand across US markets and exploring opportunities for sales and distribution.

“This event will not only showcase the potential of Uganda’s exports to the United States but also facilitate discussions on how to further strengthen trade relations between the two countries. Further, it will serve as a pivotal moment for Uganda’s global positioning, aimed at showcasing the country’s potential and capabilities to the world,” notes PACEID Chairman Odrek Rwabwogo.

Besides being a crucial step in strengthening Uganda’s ties across various sectors and supporting its efforts to re-enter the African Growth and Opportunity Act (AGOA) program, the event presents a unique opportunity for Ugandan businesses to discover connection points with the African diaspora in America and African Americans to develop commercial and strategic export partnerships.

The forum and expo will feature panel discussions, workshops, and networking sessions, providing participants with valuable insights and opportunities to connect with key stakeholders in the industry. Attendees can expect to gain a deeper understanding of market trends, consumer preferences, and regulatory requirements in the US market. This is on top of speeches from some of Africa’s most consequential decision-makers in fields like strategic infrastructure, development finance, and regional integration.

On the sidelines of the business forum, American participants will also visit what Uganda has to offer in terms of tourism, trade, and investment; UNESCO sites like Kasubi Tombs and the Namugongo Martyrs Shrine, Mweya Safari Lodge, Murchison Falls National Park, Kira Motors factory, Queen Elizabeth National Park, Lake Mburo National Park, Bujjagali falls and the Source of River Nile among others.

Mr Mathew Bagonza of PACEID addresses the guests

Partnering with the US-based private sector is premised on a reality where Official Development Assistance (ODA) to Africa between 2000 and 2022 exceeded US$ 219 billion, while total cumulative U.S. direct investment abroad (USDIA) into Africa’s fifty-five countries was below USD 47 billion, less than one percent of aggregate U.S. private capital sent throughout the world for the same period.

According to Bank of Uganda imported goods from the US worth USD 186M in the Calendar year 2023 while it exported goods to the same market worth USD 74.1M in the same period. Coffee, vanilla, casein, Nile Perch, cocoa beans, and oils are the main products exported to the United States.