Angela Thokozile Didiza, a South African Member of Parliament also serving as Minister of Agriculture, Land Reform, and Rural Development, speaking at the 2nd Uganda South African Trade and Investment Summit (UGSA) on Tuesday, August 5, 2023, at Speke Resort Munyonyo, emphasised the need for clarity in investment policies, tax regulations, and licencing requirements.
The 2nd Uganda-South Africa Trade and Investment Summit, which is being held from September 5 to September 6, 2023, in Kampala, Uganda, with the theme Accelerating Investments and Trade between Uganda and South Africa,” is organised by the governments of Uganda and South Africa and the Federation of South African Business (FSAB).
Didiza, while at the summit, recommended that the Ugandan business community openly address these trade-critical issues between Uganda and South Africa.
“This continental free trade looks deeper into our economic activity on how we can exploit our natural resources as countries on the continent and take advantage of more than a billion citizens,” she added.
She said that these opportunities also challenge the business community on how to improve bilateral trade within a broad common market, adding that strengthening bilateral trade and investment creates a solid base for the African Continental Free Trade Area (AFCFTA).
The Uganda-South Africa Trade and Investment Summit is organised to help facilitate trade and business between the two countries.
According to Humphrey Nzeyi, the Managing Director of Invicta Africa, entrepreneurs in Uganda are already having conversations with the South Africa Business Community in sectors of agriculture and tourism, among others, and hopes are that by the end of the forum of the UGSA summit, these conversations will be translated into contracts.
The summit aims to explore new avenues of collaboration, create mutually beneficial partnerships, and drive economic growth in the two regions. It is expected to attract over 300 delegates from both countries, including business leaders, government officials, and investors.
Rwakakamba Morrison, the current CEO at the Agency for Transformation, emphasised that Uganda is peaceful and secure border-to-border, and the Uganda investment authority is still offering support and facilitating investment in Uganda in different sectors.
The summit is also aimed at promoting trade and investment between Uganda and South Africa and identifying new opportunities for collaboration in key sectors.