By John Okello Lapok
President Yoweri Kaguta Museveni has called on Italian investors to partner with Uganda in agriculture, mineral processing, coffee production, electric vehicle manufacturing and technology transfer, emphasising the need for investments that promote local production, create jobs and accelerate industrialisation.
The President made the call while meeting a delegation of more than 80 Italian government officials, investors, business representatives and development partners at State House, Entebbe, on Saturday 7th November, 2026.
President Museveni said Uganda and Italy had enormous potential to deepen their economic and diplomatic relations, urging European countries to support Africa’s industrialisation by investing in production and processing rather than relying on the export of raw materials.
“Why would you want to do business with a poor man if you really understand that prosperity comes from business, from trade? Why do you want to trade with a poor man? I want my trading partner to be rich,” he said.
He explained that prosperity was driven by the production and exchange of goods and services with economic value.
“Prosperity comes from business. If you want prosperity, you must do business. Business means producing a good or a service of economic value and selling it. The more you sell, the more prosperous you become,” he said.
The President noted that Africa’s continued dependence on exporting raw and semi-processed materials was denying the continent significant earnings, particularly in the agricultural and mineral sectors.
Using coffee as an example, President Museveni said Uganda earns slightly more than $2 per kilogramme of exported coffee, while fully processed coffee products fetch considerably higher prices in European markets.
“This kilo in Europe is like $40 or more,” he said, arguing that establishing processing facilities in Uganda would enable the country to retain more value from its agricultural products.
“I am sure if we add value here, we will get more from a kilo than $2, and that will give us more money and jobs,” he added.
President Museveni welcomed Italian investors interested in establishing coffee processing factories in Uganda, saying the Government was ready to facilitate partnerships in the sector.
“For coffee, we are going to build factories here. I welcome you,” he said.
He further emphasised that Africa and Europe had a natural opportunity to prosper together, citing Africa’s geographical proximity to Europe, abundant natural resources and rapidly expanding population.
“In the next 30 years, Africans will account for 25 per cent of the world’s population. This represents a huge market that European leaders and investors should not ignore,” President Museveni noted.
On mineral resources, the President called for increased local processing, noting that Africa continued to lose significant economic opportunities by exporting minerals without sufficiently adding value.
He said the continent needed investments capable of transforming its natural resources into finished products, expanding industrial capacity and creating employment.
“Africa has abundant minerals, agricultural resources and a growing pool of human skills and talents needed for industrialisation. What we need are investments that transform these resources into finished products, create jobs and expand trade,” he said.
The President also invited Italian companies to partner with Uganda in manufacturing lithium batteries for electric vehicles, noting that the country had lithium deposits and was already pursuing electric vehicle manufacturing.
President Museveni said battery production presented an important opportunity for technology transfer and industrial collaboration, given the significant role batteries play in electric vehicle manufacturing.
“I am making my electric vehicles now, but I want a partnership in making batteries. We have lithium here, but I want a partnership. If you could get me people to share with me, because an electric battery is a bigger part of the electric car,” he said.
He urged the Italian business community to embrace mutually beneficial partnerships, pointing to the success of Chinese and Indian-owned factories operating in Uganda.
