The Uganda Investment Authority (UIA) is poised for a significant presence at the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change, slated from November 30th to December 12th, 2023. This global convening aims to address the urgent challenges of climate change, drawing world leaders, policymakers, and influencers.
UIA, entrusted with stewarding Uganda’s natural resources, including minerals, water, and wildlife, is committed to attracting technology, skills, and investments aligned with governmental policies, laws, and international commitments. Director General Robert Mukiza outlined UIA’s proactive approach during COP28, aiming to foster climate-related investment deals totaling up to US$ 4 billion. The Authority seeks opportunities in renewable energy, energy efficiency, sustainable agriculture, waste management, recycling, and green infrastructure.
“Uganda offers untapped potential in solar, wind, and hydroelectric power, capitalizing on the growing demand for clean energy solutions,” Mukiza emphasized. He also highlighted Uganda’s growth as a burgeoning technology hub, with promising prospects in sustainable tourism and hosting one of the world’s largest and environmentally responsible oil and gas projects.
Strategically positioned as a gateway to East Africa, Uganda stands out for its investor-friendly policies and robust governmental support. It is among the fastest-growing economic regions globally, offering access to domestic, regional, and global markets through agreements like the East African Community (EAC), the Common Market for Eastern and Southern Africa (COMESA), the African Continental Free Trade Area (AfCFTA), the Everything But Arms (EBA) initiative with the European Union, and trade agreements with China.
UIA’s active participation in COP28 underscores Uganda’s commitment to harnessing sustainable investments and positioning itself as an attractive hub for environmentally conscious ventures in the heart of Africa.