A number of French companies will make different trips to Uganda this year to scout for opportunities and deepen trade ties with local investors as Europe’s third largest economy looks to position itself as a long-term business partner in the country.

Some French companies – mostly those based in Uganda – will attend the Uganda – European Union business forum, which is scheduled for March 5 – 7, 2024, in Kampala, with a number of them looking for opportunities in sectors such as agriculture, mining, energy and digital, just to mention a few.

In an interaction with the press, the French ambassador to Uganda Xavier Sticker said more companies are expected to visit Uganda later in the year, many of which will follow-up on a visit made in November last year.

In November last year, 13 French companies visited Uganda, where they held discussions witih a number of local investors. That delegation is expected to return to the country later this year.

In the meantime, the French companies are expected to form a chamber of commerce at some point this year, creating a more integral focal point that will align the interest of business groups from both France and Uganda.

There has been growing interest among French companies in Uganda. In 2019, according to figures released by the embassy, there were 26 French companies operating in Uganda. Today, that number has shot up to 40. There was expectation that the number could have been bigger if it were not for a two-year interruption that the Covid-19 pandemic created.

The French government continues to support a number of Uganda government programmes in different spaces. France is supporting Uganda with financing for the rehabilitation of the Nalubaale-Kiira hydropower complex, which, with a production capacity of 380MW, accounts for a third of Uganda’s energy demands. The French development arm, AFD, will offer Uganda a loan of €73 million and a grant of €2 million for the rehabilitation.

The other projects to benefit from France’s intervention include the water plants at Katosi and Kagera River.