PSFU, EU Strengthen Trade & Investment Ties at Uganda-EU Business Forum Review

On Tuesday, the Private Sector Foundation Uganda (PSFU) held a joint meeting to assess the outcomes of the recently concluded third edition of the Uganda-EU Business Forum. The event, which took place from March 5th to 7th, 2024, saw an impressive turnout with 1500 on-site and 500 online attendees, and drew participation from 150 European companies, showcasing the strong interest from EU businesses in Uganda.

The meeting was attended by key figures including PSFU Chairman Humphrey Nzeyi and EU Ambassador to Uganda Jan Sadek. The duo co-chaired a crucial board meeting session of the Sustainable Business for Uganda (SB4U), a partnership initiative between the European Union (EU), the Government of Uganda (GoU), and the PSFU, funded by the EU.

PSFU Chairman Humphrey Nzeyi (L) and EU Ambassador Jan Sadek co-chaired a session

During the board meeting, Nzeyi and Ambassador Sadek emphasized the importance of the collaboration between the public and private sectors of the EU and Uganda in driving economic development. They discussed the outcomes and successes of the Uganda-EU Business Forum, held under the theme “Boosting Trade and Investments: What Can Uganda Gain from the Global Gateway?” This forum highlighted the immense potential for Ugandan businesses to forge connections with European counterparts, fostering sustainable growth.

The review session highlighted the significant achievements made possible through the SB4U program, which aims to bolster trade and investment, as well as enhance the tourism value chain in Uganda. Beneficiaries of the program shared testimonies, illustrating the positive impact of the initiative on their businesses and the broader economy.

Finance State Minister Hon Simon Musaasizi who attended the meeting, presented his insights on driving sustainable business.

The board meeting also explored future strategies for the upcoming phase of the SB4U program, which will concentrate on further enhancing trade and investment opportunities and strengthening the tourism sector. The discussions reiterated the critical role of partnerships in creating a conducive business environment, ultimately benefiting both Ugandan and European enterprises.

The Uganda-EU Business Forum has become an important platform for fostering economic ties between Uganda and the EU. With record participation and a strong commitment from European businesses to invest in Uganda, the forum has laid a solid foundation for future collaborations.

Both Nzeyi and Sadek expressed optimism about the future, emphasizing that the strength of the Uganda-EU partnership will lead to significant economic advancements and open up new opportunities for trade and investment in the region.

(All photos from EU in Uganda X handle)