French Companies to Invest Over $4 Billion in Uganda
Kampala, Uganda – French businesses have announced plans to invest more than $4 billion in Uganda over the next three years. This was revealed during the launch of the French Chambre of Commerce Uganda (FCCU) at the French Residence in Kampala.
French Ambassador to Uganda, Xavier Sticker, highlighted the strong economic relationship between the two countries, noting that French companies are dedicated to Uganda’s growth. The establishment of the FCCU is expected to further strengthen these ties.
The event featured a report on the impact of French companies in Uganda, showing that they are now the largest investors in the country. The number of French firms in Uganda has grown from nine in 2010 to 40, with these companies generating $875 million in sales in 2023 and employing over 3,000 Ugandans. French companies have significantly contributed to various sectors such as agriculture, energy, and digital technologies. They also provide green electricity to over 120,000 homes and have invested heavily in employee training and education.
Ambassador Sticker emphasized that the FCCU aims to promote sustainable and inclusive growth in Uganda, ensuring that French investments benefit all segments of society. The FCCU, with its 63 members, including both French and Ugandan companies, will support economic partnerships and provide a range of services to strengthen economic ties.