KAMPALA, Uganda — Ugandan President Yoweri Museveni on Wednesday called on European nations to take greater commercial advantage of their close ties to Africa, urging them to increase investments on the continent for mutual economic benefit.
Speaking after meeting a high-level Austrian delegation, Museveni argued that Europe was overlooking vast, untapped business opportunities.
“I feel sorry that Europeans are our relatives… but the Europeans have not been taking advantage of that, and yet they are also near Africa,” Museveni said on the sidelines of the 19th Ministerial Meeting of the Coordinating Bureau of the Non-Aligned Movement (NAM) at Speke Resort Munyonyo. “But somehow, they have neglected the opportunities in Africa, including business investment.”
He contrasted Europe’s hesitancy with the proactive approach of Asian counterparts. “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.
Demographic Advantage and Market Size
The president emphasized Africa’s demographic transformation as a key business incentive, citing the continent’s rapidly expanding market and labor force.
“At last, Africa is now 1.5 billion, and in the next 27 years, it will be 2.5 billion,” he noted, calling it a “huge market and labour force for future global investment.” He also highlighted the continent’s large size and deep historical and cultural linkages, including shared languages, as factors that should ease collaboration.
Austria Prepares New Strategy
The Austrian delegation, led by Foreign Affairs Minister Beate Meinl-Reisinger, informed Museveni that its government was drafting its first-ever comprehensive African Strategy to guide future engagement.
“We are now also focusing on economic opportunities. And we see opportunities there as a very young and dynamic, innovative continent,” Meinl-Reisinger said. She praised Uganda’s average age of 16 years as a key advantage for investment.
Meinl-Reisinger affirmed Austria’s commitment to partnership, not dominance, in the new multi-polar system. She noted that Austria and Uganda were finalizing a Memorandum of Understanding on Mobility and Migration to facilitate movement for business and other opportunities.
She also pointed to Europe’s ongoing commitment via the European Union’s Global Gateway Initiative, which is channeling approximately €600 million toward sustainable agriculture—specifically coffee production—and climate change mitigation across Africa.
Museveni confirmed that Uganda is open to foreign partnerships that create jobs, enhance value addition, and promote infrastructure development.
