Museveni Calls on Europe to Boost Investment in Africa for Mutual Economic Growth

President Yoweri Kaguta Museveni has urged European countries to strengthen their economic engagement with Africa, highlighting the continent’s untapped potential and strategic proximity as a foundation for mutual prosperity. Speaking on October 15, 2025, during a meeting with a high-level delegation from Austria on the sidelines of the 19th Ministerial Meeting of the Non-Aligned Movement (NAM) in Kampala, Museveni emphasized that Africa remains largely underutilized by Europe despite historical ties and shared interests.

Expressing concern over Europe’s limited presence in Africa, the President remarked that, despite cultural and linguistic similarities, many European nations have failed to capitalize on opportunities available across the continent. “I feel sorry that Europeans are our relatives… but they have not been taking advantage of that, and yet they are also near Africa,” he said, adding humorously that some European nations could qualify as members of the African Union due to longstanding connections.

In contrast, Museveni pointed to China’s growing footprint in Africa, noting that Chinese investment has been proactive and impactful. “When you see the Chinese come here and they are really doing great work, you wonder why our European people are totally sleeping,” he said.

The President reiterated Uganda’s readiness—and that of Africa in general—to welcome more European investors. He highlighted cultural linkages, such as language and religion, as factors that should make cooperation easier, stating, “Many Africans now speak English, some speak Portuguese, and many of them are Christians.”

He also underlined Africa’s immense potential in both population and resources. Drawing comparisons with India, Museveni noted that Africa is 12 times larger and now more populous. “At last, Africa is now 1.5 billion, and in the next 27 years, it will be 2.5 billion,” he said, suggesting this demographic shift presents a major opportunity for global investment and market expansion.

The Austrian delegation, led by Foreign Affairs Minister Beate Meinl-Reisinger, shared her country’s renewed focus on Africa, revealing that Austria is drafting its first comprehensive African Strategy. She emphasized that Uganda and Austria share nearly six decades of bilateral relations and acknowledged the continent’s youthful and innovative population as a key driver of future economic growth.

Meinl-Reisinger noted that the average age in Uganda is just 16, describing it as a remarkable demographic advantage. She also revealed that a Memorandum of Understanding on Mobility and Migration is being finalized between the two countries to facilitate easier movement for business and employment.

Austria, she added, is actively participating in the EU’s Global Gateway Initiative, which is currently investing around €600 million into areas like sustainable agriculture, particularly coffee, and climate change mitigation across Africa.

She stressed that Europe must prove it is a reliable partner, advocating for a cooperative approach rather than dominance. “Austria is interested in a true partnership… we need multilateralism, we need cooperation, and of course, we need opportunities — also economic ones. So, we need Africa,” she said.

President Museveni welcomed these efforts, reiterating Uganda’s openness to partnerships that foster job creation, value addition, and infrastructure development.

The Austrian delegation also included Dr Simone Knapp, Austria’s Ambassador to Uganda; Ambassador Peter Huber, Director General for International Partnerships; and Raphael Lassmann, Deputy Chief of Cabinet. On the Ugandan side were Hon. Okello Oryem, Minister of State for Foreign Affairs; Vincent Bagiire, Permanent Secretary – Ministry of Foreign Affairs; and other senior officials.

The discussions were held alongside the NAM ministerial meeting, which brought together representatives from over 120 countries to address global peace, economic collaboration, and South-South cooperation