President Museveni, accompanied by Maama Janet, on Monday officially opened the Uganda Development Finance Summit 2025 at Munyonyo, stressing the importance of saving and capital accumulation in driving Africa’s economic transformation.
Addressing delegates, President Museveni highlighted the critical role of development finance institutions in integrating millions of Ugandans into the economy and funding impactful infrastructure projects.
“We must prioritise vision, integrity, and patient capital to transform Africa. Development finance institutions are essential for balancing impactful infrastructure and integrating millions of Ugandans into the economy,” he said.
The president lamented the challenges posed by commercial banks, which he said hinder progress by charging high interest rates of up to 22% while inflation remains below 5%.
“This limits us to quick trade on non-essential goods,” he explained, urging a shift toward long-term investment strategies.
Museveni pointed to the Uganda Development Bank as a key instrument for growth, describing it as a government institution that focuses on development rather than profit.
“It offers stable, affordable credit for productive sectors and ensures our future prosperity,” he noted.
The two-day summit brought together policymakers, financiers, and development experts to discuss strategies for mobilising capital, supporting productive industries, and fostering sustainable economic growth across Uganda and the wider African continent.
