TORONTO, ON – July 12, 2025 – The 8th annual Uganda Canadian Diaspora Business Expo and Convention, held recently in Toronto, Ontario, marked a significant milestone, drawing attendees both in-person at the Courtyard by Marriott Downtown Toronto and virtually through live streaming on Uganda’s BBS Television. The highly anticipated event served as a crucial platform for fostering investment, trade, and cultural ties between Canada and Uganda, highlighting the immense potential within the Ugandan economy for diaspora engagement.
Unveiling Investment Opportunities and Government Support
The Expo officially kicked off with an inspiring opening ceremony led by Ronnie Mayanja, the event Organizing committee Chair, and a heartfelt prayer by Rev. Eddie Jumba. Uganda’s High Commission to Canada, Ag. Amb. Alan Kajik, delivered opening remarks, emphasizing the robust opportunities awaiting “right thinking partners” in Uganda. He underscored the Ugandan government’s commitment to protecting investors through a dedicated one-stop center via the Uganda Investment Authority (UIA), encouraging attendees to explore the UIA website for a diverse portfolio of bankable projects for 2024/2025. The Ambassador specifically highlighted promising sectors such as fish processing and recycling plants, reinforcing Uganda’s status as a prime investment destination due to its conducive business environment and abundant natural resources.
Lillian, the Immigration Attache at the Uganda High Commission Ottawa, provided essential information on immigration-related services, stressing the convenience of online applications and encouraging dual citizenship for its benefits. She also announced an upcoming mass enrollment for national identity cards (IDs), further streamlining processes for Ugandans abroad.
Real Estate, Finance, and Enterprise Growth
The event delved into various investment opportunities, with a strong focus on real estate and financial security. Janet Mugume, Manager of Real Estate at the National Social Security Fund (NSSF), showcased NSSF’s significant role in long-term security, managing investments for over 3 million members. She highlighted NSSF’s extensive land holdings across Uganda and its impressive real estate developments, including the completed Phase 1 of Solana Lifestyles and Residence and the Temangala project, which is 62% complete with 3500 units. Ms. Mugume also introduced “Smart Life Flexi,” a savings option for medium-term goals, and assured the diaspora of the ease and security of retrieving their savings. Senior Counsel Andrew Kasirye, a shareholder at Pearl Marina Uganda, further presented their exciting real estate projects, illustrating the vibrant growth in Uganda’s property sector, especially projects in Mirabella Residences, 256 Bella Vista, La Perla Bungalows, Riviera Residences, and Kingswood Park, among others.
Adding to the real estate discourse, Sikander M. Kassam, CEO of Reportage Properties, provided valuable insights into property development and investment strategies, with projects like Divyabhav Vertica (the tallest building on Mawanda Road), 7 Hills Kololo, and Victoria Palms.
Boosting Exports and Industrialization: A Message from UFZEPA
A key highlight was the address by the Hon. Fred Jachan Omach Mandir, Chairman of the Board of Directors of the Uganda Free Zones and Export Promotions Authority (UFZEPA). He extended warm greetings from Uganda and the Ministry of Trade Industry and Cooperatives. He also introduced Dr. Obed Kabanda, a member of the Board of Directors of UFZEPA, who brings a background in Organizational Learning and Leadership and experience from working with the Global Fund for Women.
The Chairman emphasized that this year’s theme, “Building Diaspora Networks,” directly aligns with UFZEPA’s mission to transform Uganda into a manufacturing and export hub in Africa. He stated that UFZEPA is present to strengthen linkages, build networks, and facilitate trade and investment between Canada and Uganda. He commended the organizers for the successful past seven conventions, which have served as an avenue for Ugandan Canadians to share business ideas and build networks.
He highlighted the vital role of diaspora communities in economic transformation, noting that Ugandans abroad remitted over USD 1.4 billion in 2024 alone, placing Uganda among the top ten remittance recipients in Africa. Beyond financial flows, the diaspora contributes skills, networks, and global exposure.
UFZEPA is responsible for the establishment, development, management, marketing, maintenance, supervision, and control of Free Zones, as well as the development, promotion, and coordination of all export-related activities. The Authority regulates and facilitates secure, efficient, and globally competitive transnational spaces to add value to abundant resources and promote exports globally, including to Canada. To date, UFZEPA has licensed 43 Free Zone developers and operators and is constructing a public Free Zone at Entebbe International Airport , catalyzing industries and increasing Uganda’s export receipts. Currently, there are over 1,004 registered companies exporting from Uganda, with another 1,700 having expressed interest. The Chairman also announced the finalization of regulations for Special Economic Zones, inviting the diaspora to be key participants.
The Chairman provided a comprehensive overview of Uganda’s progress and the government’s priorities:
- National Foundation: Uganda’s progress is built on four ideological principles: Patriotism, Pan-Africanism, Socio-economic Transformation, and Democracy.
- Quality of Life Improvements: Mass-line programs like UPE (Universal Primary Education), USE (Universal Secondary Education), mass immunization, and wealth creation funds have significantly improved the quality of life. Life expectancy has risen from 45 years in 1986 to 63 years, and the literacy rate has improved from 43% to 80%. The percentage of people in the subsistence economy has fallen from about 90% in 1986 to 33%.
- Government Priorities: Key areas of focus include peace and security , accelerating industrialization (using local materials) , export promotion and import substitution , strengthening the private sector , increasing market access for exports , skilling youth through Zonal Industrial Hubs , increasing revenue collection , expenditure rationalization , fighting corruption , and bringing the remaining 33% of subsistence homesteads into the money economy through programs like the Parish Development Model. The Parish Development Model had received Shs. 3.3 trillion by the end of June 2025.
- Economic Resilience: The IMF recently ranked Uganda 7th among the fastest-growing economies globally. The economy is now at $60.4 billion (Ug. Shs. 225 trillion), a significant increase from $3.92 billion in 1986. GDP growth rate stood at 6.7% at the end of the first quarter of 2025 and is projected to reach 7% in 2025/26. In Purchasing Power Parity (PPP) terms, the economy was projected to be USD 171.6 billion by the end of June 2025 and is projected to expand to $187 billion. Household incomes are projected to increase from $1,259 per capita by June 2025 to $1,330 by June 2026. The percentage of Ugandans living below the poverty line has fallen from 20% to 16% in the last four years, surpassing the 2025 national target. The Ugandan shilling is the most stable currency in Africa, appreciating by 6.1% in the past 12 months , with inflation projected at 3.6% in FY 2024/25.
- Foreign Direct Investments (FDI): FDI inflows reached USD 3.8 billion by the end of FY 2024/25 , with tourism receipts at USD 1.5 billion and remittance receipts at USD 1.4 billion. Uganda’s GDP is projected to more than double to USD 158 billion by 2030. The Netherlands was the single largest source of FDI (55%), followed by France (20%). Two-way merchandise trade between Canada and Uganda reached $69.1 million in 2023.
- Government Investment in Wealth Creation: Over the last 10 years, the government has invested over Shs. 8.03 trillion in initiatives such as the capitalization of Uganda Development Bank (Shs. 1.45 trillion) , the Parish Development Model (Shs. 3.4 trillion by FY 2024/25) , Emyooga (Shs. 553 billion) , and the Uganda Women Entrepreneurship Programme (Shs. 168 billion) , among others.
- Export Growth: Merchandise exports grew by 26% to USD 9.3 billion in the year ending March 2025. Top exports include gold (USD 3.788 billion) , coffee (USD 1.837 billion) , and cocoa beans (USD 410.75 million). Total earnings from goods and services reached USD 11.81 billion by March 2025.
- Domestic Revenue Mobilization: Revenue collection reached Shs. 31.9 trillion by June 2025 (14.3% of GDP), with a target of Shs. 37.2 trillion by June 2026. The government is using digital platforms like EFRIS and DTS to combat tax evasion.
- Economic Diversification: Uganda has added 20 new products to its export basket in the last 10 years and has the potential to produce 50 new complex products , including ICT equipment, serums and vaccines, and electronic integrated circuits.
- Manufacturing: Uganda possesses the raw materials and human resources to support manufacturing of automobiles, electronics, steel, textiles, pharmaceuticals, and more. New manufacturing products contributing to exports include electronics (hairdryers, refrigeration parts) , pharmaceuticals (HIV pills, other medicines) , dairy products , cut flowers , avocados, bananas , and solar energy products.
- Investment Potential: The return on private investment in Uganda averages 14% per year, significantly higher than Europe’s average of 5.2% in 2022, with initial capital recoverable in 5 to 7 years.
- Goal of Ten-Fold Economy by 2040: The government aims to increase the economy to USD 500 billion by 2040, focusing on four anchor sectors: Agro-industrialization, Tourism development, Mineral development (including oil & gas), and Science, Technology, and Innovation.
- Agro-industrialization: Uganda has an irrigation potential of 3.03 million hectares, which could transform it into a major producer of various agricultural products, including coffee, fish, and milk. The government has introduced a Shs. 175 billion interest-free credit facility for large-scale commercial farmers through government-owned commercial banks.
- Tourism Development: Tourism receipts reached USD 1.473 billion in 2024, a significant recovery from the COVID-19 shutdown. Uganda actively participates in global tourism expos.
- Mineral Development: Uganda has stopped the export of unprocessed minerals and boasts high-value minerals like oil and gas, gold, and rare earth elements. There are ten gold refineries producing 99.9% pure gold. The Uganda National Mining Company is being capitalized with UGX 500 billion over five years to take up to a 15% equity stake in strategic mining operations. Infrastructure development, including Kabalega International Airport and 700 km of tarmac roads in the Albertine region, is aimed at attracting petrochemical industries.
- Electricity: Uganda’s installed electricity generation capacity is 2,052 megawatts, with plans for new hydropower plants and an 8,400 MW Nuclear Power Plant, aiming for a total of 12,074 megawatts.
The Chairman concluded by emphasizing the enormous potential for the diaspora community in Canada to drive this transformation through export-oriented investments, joint ventures, logistics, or technology transfer. He highlighted opportunities like the coffee sector, where less than 10% of Uganda’s 8.2 million 60-kg bags produced in FY 2023/24 are roasted or packaged at origin, representing a significant business opportunity. He also pointed to the fast-growing ICT sector, with 70% internet penetration and a youthful workforce, as ripe for business process outsourcing. With regional integration through the East African Community and the Africa Continental Free Trade Area, Uganda offers access to a market of over 300 million consumers. He urged the diaspora to move from remittances to strategic investments and from goodwill to enterprise , noting that investments in Free Zones offer tax incentives, including total exemption from customs duties and zero-rated VAT for exports.
Inspirational Journeys and Community Building
The Expo featured powerful testimonials from successful diaspora members and business leaders, underscoring the spirit of entrepreneurship and resilience:
- Florence Nakimuli (Toronto) shared her inspiring journey from Korea to Canada, highlighting how persistence led to her successful career in banking.
- Chief Moses A. Mawa, Visionary Media Mogul and President and CEO of Afro-global Television, captivated the audience with his journey from Carleton University to building the largest diaspora media operation and launching the “Imagine Uganda” initiative.
- William Gafabusa, Business/Data Analyst (Toronto), emphasized the critical role of data in identifying sound investment opportunities and encouraged attendees to leverage embassy and UIA resources for informed decisions.
- Diana Nabuuso of Diaspora Lawyers provided crucial insights into “Bridging borders with law and Vision in Diaspora law,” explaining how her firm assists Ugandans abroad in managing and acquiring properties back home securely.
- Daphne Marunga, President of Rotary Club of Toronto West and Executive Director of Amara Girls Initiatives, highlighted her work in women’s empowerment and sought partnerships for educational events.
- George Wilobo, Executive Director of Global Express Services Inc., showcased his diverse business portfolio, including Global Events Canada, GlobEx Shipping, and Brookside Staffing Agency all under Global Express Services Inc..
A Call to Action for the Diaspora
The event concluded with a strong call for the Ugandan diaspora to actively participate in the development of their homeland. Betina Tumuhaise, Event Coordinator, shared her personal journey as a coffee farmer and her commitment to empowering farmers and building community infrastructure. Pastor Jumba confirmed the participation of an interfaith service, fostering unity. Susan Nalwoga spoke passionately about advocacy and the importance of mutual support within the community, while Ronald Rwabayi emphasized the significance of identity and networking for younger generations of the diaspora.
The 8th Ugandan Diaspora Business Expo and Convention successfully reinforced the message that Uganda offers immense potential for growth and returns on investment, making it an opportune moment for the diaspora to contribute to and benefit from the nation’s progress.
Compiled by
Global Events Canada for Uganda Diaspora Network and the Uganda High Commission Ottawa