In a recent meeting between Dr. Yunus Masaba, CEO of Mas Group Africa, and the Ugandan Ambassador to Russia, His Excellency Kizige Moses in Moscow, Russia, discussions intensified on leveraging the Russian market for export opportunities, with a strong emphasis on value-added agricultural products and the urgent need for foreign investment to bolster the Ugandan economy.
Masaba reiterated the critical role of agriculture as the cornerstone of Uganda’s economy and stressed the importance of value addition to agricultural products to maximize global competitiveness. “To fully harness the potential of Uganda’s agricultural sector, we must prioritize value addition. This not only enhances the quality and appeal of our exports but also creates more opportunities for our farmers and contributes to economic growth,” Masaba emphasized.
Highlighting the significance of foreign investment in achieving this goal, Masaba called on investors to consider setting up factories in Uganda to facilitate value-addition processes. “Investors have a vital role to play in establishing processing facilities and infrastructure that will enable us to add value to our agricultural products right here in Uganda. This not only benefits our economy but also creates employment opportunities within the country,” Masaba urged.
Ambassador Kizige echoed Masaba’s sentiments, underlining the potential for foreign investment to drive economic development and job creation in Uganda. “We welcome foreign investors to explore opportunities in Uganda’s agricultural sector. By setting up factories and processing facilities, they can contribute to job creation and the overall growth of our economy,” Ambassador Kizige stated.
The meeting served as a platform to rally support for value-addition initiatives and attract foreign investors to Uganda’s agricultural sector. Masaba reaffirmed his commitment to working closely with investors and government stakeholders to create an enabling environment for Ugandan entrepreneurs to partner with investors.
As Uganda endeavors to unlock the full potential of its agricultural sector, the call for foreign investment in value addition presents a significant opportunity for economic transformation and sustainable development. By harnessing the power of value addition and attracting investment, Uganda can create a thriving agro-processing industry, generate employment opportunities, and build a more resilient and prosperous economy.