Africa-Press – Uganda. Uganda’s foreign missions in Africa have been put on notice to deliver measurable economic results or risk losing budgetary support, as government sharpens its focus on Economic and Commercial Diplomacy (ECD).
Speaking at a three-day mid-year evaluation retreat on the implementation of ECD in Mombasa, Kenya, Ramathan Ggoobi said missions that demonstrate clear export facilitation and investment mobilisation will receive stronger budget allocations. Those that underperform will be required to present recovery strategies to justify retaining their funding.
He stressed that economic reporting must move away from listing activities and instead focus on tangible outcomes.
“Public resources must buy measurable economic outcomes,” he said, adding that diplomatic missions must account for the economic value they generate for Uganda.
Ggoobi warned that any form of rent-seeking in investor engagement undermines national competitiveness and will be dealt with decisively.
“Economic diplomacy requires credibility. Credibility builds investment and investment builds growth,” he noted.
The retreat comes at a time when African economies are increasingly integrating, competition for investment is intensifying, and opportunities are time-bound.
According to Ggoobi, the question is no longer whether Uganda has potential, but whether it is moving faster than other countries.
Under the ECD framework, Uganda’s missions are expected to expand export markets, attract investment into the ATMS sectors, promote tourism inflows, facilitate technology partnerships, and strengthen commercial intelligence gathering.
Uganda has set an ambitious national goal of growing its economy tenfold by 2040. Achieving this target will require sustained high growth, structural transformation, export expansion, and technological upgrading.
In support of this agenda, the Uganda Bankers Association has committed to mobilising Shs 490 trillion (USD 134 billion) over the next 15 years to finance investors in the ATMS sectors.
The World Bank and its private sector arm, the International Finance Corporation (IFC), have also pledged support toward Uganda’s growth ambitions.
Ggoobi revealed that the World Bank has already availed more than $2 billion in new financing for ATMS sectors and related enablers, while IFC has committed patient capital to private sector investors in agro-industry, minerals, science, technology and innovation, and renewable energy.
The Permanent Secretary of the Ministry of Foreign Affairs, Vincent Bagiire Waiswa, reaffirmed government’s support to Uganda’s missions in advancing the Economic and Commercial Diplomacy agenda.
