London, September 15, 2024 — The 2024 UK-Africa Business Summit provided a platform for key stakeholders to explore opportunities and challenges across East Africa’s fast-growing sectors, with a focus on agriculture, digital technology, infrastructure, and tourism. Moderated by Otto Canon, Executive Director of CleanCyclers, the discussions revolved around fostering public-private partnerships (PPPs), leveraging digital transformation, and attracting sustainable investments in East Africa.

UK Export Finance: Catalysing Large-Scale Infrastructure Projects

Emma Thomas, Co-Head of Global Business Origination at UK Export Finance (UKEF), outlined how UKEF is facilitating long-term investments in East Africa by providing insurance, loans, and guarantees to mitigate risks for UK businesses. Thomas highlighted UKEF’s role in supporting projects in sectors such as transport, energy, and healthcare. “By offering credit enhancements through government-backed guarantees, UKEF ensures that UK businesses can invest confidently in East Africa’s high-potential markets,” she said.

Digital Transformation and Legal Compliance

Sid Jiwnani, Director of Knovos, stressed the importance of digital infrastructure to improve transparency and compliance in East Africa’s legal and business environments. Jiwnani pointed to technologies like e-discovery as crucial tools for managing growing volumes of data, supporting smoother business operations, dispute resolution, and regulatory adherence. “Digital transformation is not just a trend; it’s a necessity for East Africa’s competitiveness in the global market,” he remarked.

Strategic Investment in Manufacturing and Technology

Ninder Johal, CEO of Nachural Group, called for strategic investment in East Africa’s manufacturing and technology sectors. He emphasized the need for countries in the region to create investor-friendly policies, improve infrastructure, and embrace innovation to attract global capital. “To remain competitive, East Africa must position itself as a hub for technological innovation, particularly in agriculture and manufacturing,” Johal stated.

Building Investor Confidence through Procurement Reforms

Hon. Dr. Robert Mwesigwa Rukaari, National Chairman of the NRM Entrepreneurs League, discussed reforms in East Africa’s public procurement processes under the African Continental Free Trade Area (AfCFTA). He highlighted opportunities in agriculture, specifically coffee production, and ICT, calling for greater transparency and efficiency to build investor confidence and drive intra-African trade.

Expanding Uganda Airlines’ Global Reach

Uganda Airlines CEO Jenifer Bamuturaki announced the airline’s plans to establish a direct Entebbe-London route, underscoring the importance of expanding Uganda’s connectivity with the UK. She emphasized the need for partnerships in cargo handling and aviation infrastructure. “Increased connectivity will strengthen Uganda’s trade, tourism, and business relations with the UK,” Bamuturaki said.

Supporting Agricultural Growth and Value Addition

Dr. Samuel Mugasi, CEO of Uganda’s National Agriculture Advisory Services (NAADS), highlighted Uganda’s vast agricultural potential. He stressed the need for investment in fertiliser production and value addition, which are critical for enhancing productivity and boosting exports. “Uganda’s fertile land and agricultural diversity offer significant opportunities for investors to tap into,” he noted.

Promoting Eco-Tourism and Cultural Heritage

Ms. Lily Ajarova, CEO of Uganda Tourism Board, emphasized Uganda’s focus on attracting UK investors in eco-tourism and cultural tourism. “Uganda’s natural landscapes, wildlife, and rich cultural heritage are prime attractions for UK tourists. The tourism sector offers unique investment opportunities for sustainable growth,” she explained.

Key Opportunities for Investment

• Agriculture: Fertiliser production and value addition in crops like coffee and tea are critical to enhancing productivity and exports.
• Tourism: Uganda’s eco-tourism and luxury travel sectors offer vast opportunities for collaboration with UK businesses.
• Digital Infrastructure: Investments in ICT can drive transparency, efficiency, and compliance across East Africa’s legal and business environments.
• Transport and Logistics: Uganda Airlines’ expansion plans present opportunities for UK companies to invest in aviation infrastructure and services.

Concluding Remarks

The UK-Africa Business Summit 2024 concluded with a call for stronger partnerships between UK investors and East African nations. Panellists agreed that public-private partnerships, investment-friendly policies, and innovation across sectors like agriculture, technology, and tourism are key to unlocking East Africa’s full potential.