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2 clusters · 7 sources · 9 days · First seen · Last updated

Uganda economic and industrial development strategy

Overview

Uganda is pursuing a strategy of industrial and economic transformation centered on value addition and large-scale development financing.

At the 15th Annual Mineral Wealth Conference, industry leaders and government officials advocated for a transition from raw mineral extraction to local processing. Specifically, stakeholders emphasized the need to process iron ore domestically to create a manufacturing value chain for steel products, thereby reducing import reliance and maximizing economic value within the country.

To support broader economic goals, including an ambition to expand the economy from $50 billion to $500 billion by 2040, the government is implementing the Fourth National Development Plan (NDP IV). This plan targets sectors such as agro-industrialization, tourism, mineral development, and science and technology. Achieving these objectives requires an estimated $145.12 billion, prompting calls for financing reforms, increased domestic savings, and deeper capital markets to shift investment toward productive capacity rather than immediate consumption.

Entities

Uganda · Milly Babirye Babalanda · KCB Bank Uganda · Steel & Tube Industries · Sidronius Okaasai Opolot

Timeline

  1. [BUSINESS] 5 sources
    Uganda seeks financing reforms to reach $500 billion economy by 2040

    Uganda seeks to overhaul its development financing to grow its economy to $500 billion by 2040, focusing on agro-industrialization, tourism, minerals, and technology through the Fourth National Development Plan

  2. [BUSINESS] 2 sources
    Uganda industry leaders urge local mineral processing

    At the 15th Annual Mineral Wealth Conference, stakeholders urged Uganda to invest in local mineral processing and financing to build a domestic steel industry and capture greater economic value.

Sources

ankoletimes.co.ug · eagle.co.ug · ecofinagency.com · mulengeranews.com · showbizuganda.com · thecooperator.news · thefintechtimes.com