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Museveni asks Europe to invest more in Africa for shared prosperity

by Muhammad Ngobi
in News
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Museveni asks Europe to invest more in Africa for shared prosperity
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President Museveni has called on European countries to take advantage of their proximity to Africa and increase investments on the continent for mutual economic growth and prosperity.

Speaking during a meeting with a high-level Austrian delegation on the sidelines of the 19th Ministerial Meeting of the Coordinating Bureau of the Non-Aligned Movement (NAM) at Speke Resort Munyonyo in Kampala, President Museveni emphasized that Africa presents vast untapped opportunities that Europe continues to overlook.

“I feel sorry that Europeans are our relatives, speaking English like me because I don’t speak Russian, but the Europeans have not been taking advantage of that, and yet they are also near Africa. They are not far away,” Museveni remarked.

He jokingly added that “some of the European countries should be members of the African Union,” given their historical and cultural connections to the continent.

“But somehow, they have neglected the opportunities in Africa, including business investment,” he said.

President Museveni contrasted Europe’s hesitation with China’s growing engagement in Africa, noting:

“When you see the Chinese come here and they are really doing great work, you wonder why our European people are totally sleeping.”

The president reiterated that Uganda and Africa at large were ready to welcome more European investors.

“We have a lot of linkages — many Africans now speak English, some speak Portuguese, and many of them are Christians — so we have cultural and historical bonds that make collaboration easier,” he said.

He further highlighted Africa’s enormous potential in terms of both population and resources.

“Africa is 12 times the size of India. You can fit India into Africa 12 times, but you people who left multiplied more than those who stayed,” he noted.

President Museveni pointed to Africa’s demographic transformation as a strategic advantage.

“Until recently, the population of India was bigger than the population of the whole of Africa. But now, because of modern science, we have been able to suppress our enemies. At last, Africa is now 1.5 billion, and in the next 27 years, it will be 2.5 billion,” he said, describing the continent as a massive future market and labour force.

The Austrian delegation was led by Foreign Affairs Minister Beate Meinl-Reisinger, who informed President Museveni that Austria had, for the first time, decided to draft a comprehensive African Strategy to guide its engagement with the continent.

“We have been long-standing partners, and I think next year we will celebrate the 60th anniversary of our bilateral relations,” Meinl-Reisinger said.

She acknowledged that traditional development cooperation has its limits, but Austria is now focusing on economic opportunities and innovation.

“We see opportunities there as a very young and dynamic, innovative continent. Your country’s average age is 16 years — it’s truly amazing. So, I would very much appreciate intensifying our bilateral relations,” she added.

Meinl-Reisinger revealed that Austria and Uganda are finalizing a Memorandum of Understanding on Mobility and Migration, which would facilitate greater movement of Ugandans to Austria for business and other opportunities.

She also noted that Austria is working closely with the European Union’s Global Gateway Initiative, which is currently directing approximately €600 million toward sustainable agriculture, particularly coffee production, and climate change mitigation across Africa.

“I think there are some good developments, and Europe understands that it’s about proving that we are reliable partners, and we are willing to cooperate, especially on all the important African issues that are still on the table in the Security Council, to ensure a win-win rather than hegemony.”

She reaffirmed Austria’s desire for equal partnership:

“Austria is interested in a true partnership here. We need partners, especially in this now multi-polar system. We need multilateralism, we need cooperation, and of course, we need opportunities — also economic ones. So, we need Africa.”

President Museveni said Uganda remains open to foreign partnerships that create jobs, enhance value addition, and promote infrastructure development.

The Austrian delegation included Beate Meinl-Reisinger, Foreign Affairs Minister; Simone Knapp, Austrian Ambassador to Uganda; Peter Huber, Director General for International Partnerships; and Raphael Lassmann, Deputy Chief of Cabinet.

The Ugandan delegation included Okello Oryem, Minister of State for Foreign Affairs; Vincent Bagiire, Permanent Secretary – Ministry of Foreign Affairs; and other senior government officials.

The meeting was held alongside deliberations at the 19th Ministerial Meeting of the NAM Coordinating Bureau, which brought together representatives from over 120 countries to discuss global peace, economic cooperation, and South-South partnerships.

Tags: • Uganda–Europe relationsAfrica economic growthAfrica-China investmentAfrican demographic trendsBeate Meinl-ReisingerEU Africa strategyEuropean investment in AfricaGlobal Gateway InitiativeMobility and Migration Uganda AustriaNon-Aligned Movement 2025South-South cooperationUganda Austria relationsUganda foreign partnershipsUganda infrastructure developmentYoweri Museveni
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Muhammad Ngobi

Muhammad Ngobi

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