KUALA LUMPUR: Uganda is actively courting Malaysian investors to explore opportunities within its energy and mineral sectors, with a particular focus on oil refining, critical minerals, and clean energy infrastructure.
Speaking at the Uganda: The Pearl of Africa Business Forum and Expo 2025, Uganda’s Minister for Energy and Mineral Development, Ruth Nankabirwa, emphasised her country’s readiness to facilitate foreign investment through a robust legal framework and state support.
“You will not be left to deal with landowners alone—the minerals belong to the government, even if the land is privately owned,” said Nankabirwa, underscoring the government’s commitment to easing investment challenges.
Uganda discovered commercial oil reserves in 2006, and two development areas are now underway. The Lake Albert basin is projected to produce 40,000 barrels of crude oil per day, while the Tilenga project in Northern Uganda is expected to yield 190,000 barrels per day.
The minister also highlighted Uganda’s reserves of rare earth elements, gold, iron ore, and copper, noting that legislation prohibits the export of raw minerals without local value addition.
“We want to industrialise domestically. That’s why we’re inviting investors who are prepared to process and partner with us locally,” she said.
Nankabirwa identified Malaysia’s expertise in palm oil, downstream processing, and solar energy as strategic areas for collaboration.
“If you are interested in solar development or partnering with regional electricity distributors, we are open to it. We want to walk this journey with you,” she added.
Uganda’s electricity supply, which is over 86% derived from hydropower, is stable and well-suited for industrial operations, according to the minister.
Also speaking at the forum, Finance Minister Matia Kasaija assured potential investors of Uganda’s political stability and investment-friendly policies.
“If you choose to invest in Uganda, you will find clear and supportive laws that protect your capital. You can also exit freely, with full repatriation of your investment and profits,” he said.
The forum was also attended by Bright Rwamirama, State Minister for Animal Industry, and Mulimba John, State Minister for Foreign Affairs (Regional Cooperation).
The two-day event, organised by the High Commission of the Republic of Uganda in Malaysia in collaboration with the Word-One Business Federation, aims to position Uganda as a high-potential investment destination through networking, knowledge sharing, and the showcasing of its resource-rich landscape.–BERNAMA
