The African Export-Import Bank (Afreximbank) is preparing to establish a dedicated country programme for Uganda, signalling a deeper financing partnership as the government pushes an ambitious plan to transform the economy into a US$500 billion powerhouse.<\/p>\n\n\n\n
The development was announced after Finance Minister Henry Musasizi met Afreximbank\u2019s new Regional Director for East Africa, Humphrey Nwugo, at the Ministry of Finance on Tuesday.<\/p>\n\n\n\n
Musasizi welcomed the bank\u2019s growing involvement in Uganda and said the government is ready to work with Afreximbank to ensure projects already in the pipeline move from plans to implementation.<\/p>\n\n\n\n
The Minister thanked the continental lender for aligning its interventions with Uganda\u2019s Tenfold Growth Strategy, the government\u2019s long-term economic transformation agenda.<\/p>\n\n\n\n
\u201cGovernment is ready to work with the Bank to ensure that the projects in the pipeline are implemented,\u201d the Ministry of Finance said in an update following the meeting.<\/p>\n\n\n\n
The proposed country programme could provide a more structured framework for Afreximbank\u2019s financing and technical support to Uganda, particularly in sectors identified by government as critical to accelerating economic growth.<\/p>\n\n\n\n
Nwugo said Afreximbank is committed to supporting Uganda\u2019s journey towards a US$500 billion economy, adding that the bank continues to expand its support across Africa.<\/p>\n\n\n\n
Afreximbank has identified several sectors where it sees major opportunities for investment, including agro-industrialisation, tourism and mineral development.<\/p>\n\n\n\n
The bank is also interested in the infrastructure and other economic enablers required to unlock these sectors.<\/p>\n\n\n\n
The focus fits into Uganda\u2019s broader push to move beyond exporting raw commodities and instead increase domestic processing, manufacturing and value addition.<\/p>\n\n\n\n
Agriculture remains central to that strategy, with government seeking greater investment in agro-processing and industrial value chains that can create jobs, expand exports and increase household incomes.<\/p>\n\n\n\n
The tourism sector is another major target, while Uganda\u2019s substantial mineral deposits have increasingly attracted government attention as a potential source of foreign exchange, industrialisation and investment.<\/p>\n\n\n\n
However, unlocking these opportunities will require major investment in roads, energy, water, ICT and other infrastructure \u2014 areas Afreximbank has also identified as priorities.<\/p>\n\n\n\n
The proposed country programme comes as Uganda seeks to mobilise more financing for large-scale projects needed to drive economic transformation.<\/p>\n\n\n\n
For government, the challenge is no longer simply attracting financing, but ensuring that available capital is channelled into productive projects capable of generating economic returns.<\/p>\n\n\n\n
Afreximbank\u2019s regional leadership has indicated that Uganda remains an important market in its East African operations, with the bank positioning itself as a partner in the country\u2019s long-term development agenda.<\/p>\n\n\n\n
Nwugo was accompanied by Farida Mukasa, Senior Specialist for Client Relations (East Africa), and Daniel Katumba, Manager for Client Relations (East Africa).<\/p>\n\n\n\n
The engagement places Afreximbank at the centre of Uganda\u2019s increasingly aggressive push to mobilise capital for industrialisation, infrastructure and export-led growth.<\/p>\n\n\n\n
If translated into concrete financing commitments and successfully implemented projects, the proposed country programme could become an important pillar in Uganda\u2019s attempt to turn its ambitious US$500 billion economic target from a political aspiration into an investable development programme.<\/p>\n","protected":false},"excerpt":{"rendered":"
The African Export-Import Bank (Afreximbank) is preparing to establish a dedicated country programme for Uganda, signalling a deeper financing partnership as the government pushes an ambitious plan to transform the economy into a US$500 billion powerhouse. The development was announced after Finance Minister Henry Musasizi met Afreximbank\u2019s new Regional Director for East Africa, Humphrey Nwugo, […]<\/p>\n","protected":false},"author":27989,"featured_media":43514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard"},"jnews_primary_category":[],"jnews_paywall_metabox":[],"jnews_override_counter":[],"footnotes":""},"categories":[101],"tags":[10499,7215,10500,119],"class_list":["post-43513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-afreximbank","tag-henry-musasizi","tag-humphrey-nwugo","tag-uganda-news"],"_links":{"self":[{"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/43513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/users\/27989"}],"replies":[{"embeddable":true,"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/comments?post=43513"}],"version-history":[{"count":1,"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/43513\/revisions"}],"predecessor-version":[{"id":43515,"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/posts\/43513\/revisions\/43515"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/media\/43514"}],"wp:attachment":[{"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/media?parent=43513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/categories?post=43513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ugmirror.com\/index.php\/wp-json\/wp\/v2\/tags?post=43513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}