Speaking at a high-level Mining and Energy Luncheon hosted at the Palace of Westminster, within the House of Lords in London, Dr. Ggoobi underscored Uganda’s readiness to attract large-scale, long-term capital.
The event was organised by the Uganda High Commission in London in partnership with the Eastern Africa Association and the Westminster Africa Business Association under the theme *“Opportunities for Growth and Investment.”*
“Uganda stands at the intersection of resource abundance, policy reform, and rising global demand for energy transition materials,” Ggoobi said.
“We are not simply resource-rich; we are investment-ready.” He added that, “these resources are mapped, increasingly quantified and progressively de-risked,” emphasizing that Uganda possesses minerals central to the global energy transition.
Uganda boasts over 30 commercially viable minerals, including gold, copper, cobalt, nickel, lithium, graphite, rare earth elements, iron ore and phosphates.
Ggoobi stressed that government reforms are moving the country beyond raw extraction, noting, “we are moving decisively beyond extraction into value addition to ensure Uganda captures more value from its natural resources.” He urged investors to “invest through the Uganda National Mining Company via joint ventures, equity participation, or off-take agreements across gold, copper, cobalt, rare earths, tin and iron ore.”
Beyond mining, Ggoobi highlighted opportunities in the energy sector, stating that Uganda’s oil and gas resources are under development and “anchored by the East African Crude Oil Pipeline, which will unlock significant value across the economy.”
He also reassured investors on policy stability, saying, “this legislation does not affect legitimate investors who are coming to partner with Uganda.”
Uganda and the United Kingdom continue to enjoy strong and expanding trade relations, with bilateral trade volumes steadily growing over the years.
Trade between the two countries has hovered around $0.9 billion to $1.1 billion annually in recent years, reflecting resilient commercial ties.
For instance, total trade was estimated at approximately $0.95 billion in 2021, rising to about $1.02 billion in 2022 , and remaining close to $1 billion in 2023, driven largely by Uganda’s exports of coffee, tea, fish and horticultural products, alongside imports of machinery, pharmaceuticals and financial services from the UK.
Ggoobi noted that “deepening trade ties with partners like the United Kingdom is critical as Uganda advances its industrialisation and export diversification agenda,” signaling government intent to push bilateral trade well beyond the $1 billion mark in the coming years.
He also pointed to growing efforts to enhance connectivity, revealing that Uganda is exploring the introduction of direct flights between Entebbe and London.
“A direct air link will significantly reduce travel time, ease cargo movement and strengthen business-to-business linkages between our two countries,” Ggoobi said, adding that improved connectivity would further position Uganda as a regional hub.
Uganda’s High Commissioner to the UK, Nimisha Madhvani, said the country is entering a defining phase of its development.
“Uganda today stands at an exciting point in its development journey,” she said, adding, “with a stable macroeconomic environment, a young and enterprising population, and a strategic location in East Africa, Uganda is increasingly positioning itself as a gateway to the region.”
Henry Bellingham welcomed the renewed engagement, noting, “we had a wonderful trade mission to Uganda in February 2026 and we very much look forward to coming back.” He added that, “there is increased demand by investors to come to Uganda, which reflects growing confidence in the country’s investment climate.”
On her part, Agnes Gitau underscored Uganda’s global competitiveness, stating, “Uganda is increasingly positioning itself as a competitive destination for investment,” and urged UK investors to “choose Uganda and East Africa as key partners in their growth strategies.”
Ggoobi invited investors to the upcoming UK-Africa Business Summit 2026, where Uganda will showcase bankable, investment-ready projects.
“We look forward to engaging further and presenting concrete opportunities where investors can participate and grow with Uganda,” he said, reinforcing the country’s message that it is open, prepared and ready for business.