Uganda has deepened its economic ties with the Export-Import Bank of China following high-level talks aimed at accelerating the country’s industrialisation and unlocking tenfold economic growth.
The meeting, held in Kampala, brought together Finance Minister Matia Kasaija and a delegation from the Chinese lender led by Vice President Yang Dongning, who are in the country to strengthen bilateral cooperation and support Uganda’s long-term economic transformation.
Kasaija said Uganda’s next phase of development will be anchored on the government’s ATMS strategy, with a strong focus on agro-industrialisation, export expansion and value addition across key sectors. These include traditional cash crops such as coffee, cotton and tea, as well as emerging industries in oil and gas, tourism, and science, technology and innovation.
He noted that Uganda is repositioning its economy to benefit from China’s zero-tariff policy by shifting away from the export of raw materials towards processing, manufacturing and higher-value exports targeting global markets.
Accompanied by Permanent Secretary and Secretary to the Treasury Ramathan Ggoobi, Kasaija expressed appreciation to the Government of China for its sustained technical and financial support across sectors such as transport, energy and health.
In a move expected to boost investment inflows, China EXIM Bank committed to supporting the organisation of a “Uganda Day” in China, a platform that will showcase Uganda’s investment opportunities, link local enterprises to Chinese manufacturers and financiers, and attract potential investors.
Officials said the initiative will form part of a broader strategy to strengthen commercial diplomacy, deepen private sector partnerships and position Uganda as a preferred investment destination on the continent.
Both parties also agreed to scale up support for the development of industrial parks, with emphasis on improving access to land, utilities and logistics infrastructure to enhance productivity and attract large-scale investments.
China EXIM Bank reaffirmed its commitment to Uganda’s growth agenda through a modern and diversified financing framework, including trade finance for exporters and importers, blended financing models, equity investments, and syndicated funding arrangements tailored to strategic projects.
Kasaija underscored the need for flexible financing structures to fast-track priority investments, while both sides highlighted the importance of strengthening technical and vocational education to equip the workforce with skills needed to sustain industrial expansion and meet investor demands.
