Kasaija Woos Canadian Tourists to Invest in Uganda’s Growing Economy 

KAMPALA — The Minister of Finance, Planning and Economic Development, Matia Kasaija, has called on Canadian tourists to return to Uganda as investors, highlighting vast opportunities in the country’s tourism and broader economic sectors.

Kasaija made the remarks on Friday at the Ministry of Finance during a farewell event for a delegation of Canadian tourists who had been in Uganda for several weeks. He delivered the message on behalf of President Yoweri Museveni and was accompanied by the Minister of State for Investment, Evelyn Anite, as well as Uganda’s Ambassador to Canada, Allan Kajik.

Welcoming the visitors, Kasaija described Uganda as the “Pearl of Africa,” noting that the country has, over the past four decades, established itself as a leading tourism destination supported by political stability and a sound macroeconomic environment.

He outlined key national achievements, including Uganda’s progress toward graduating from Least Developed Country (LDC) status and its attainment of lower-middle-income status, with gross national income (GNI) per capita reaching USD 1,278 as of June 2025. He also cited over 30 years of sustained peace and macroeconomic stability, alongside continued investment in socio-economic infrastructure and institutions.

Kasaija further highlighted Uganda’s expanding export base, which now includes manufactured goods, ICT products, pharmaceuticals, and refined gold. The country has added 31 new export products over the past 15 years. Exports to the East African Community reached USD 3.16 billion in the 12 months to January 2026, while life expectancy has improved to 68 years.

Looking ahead, the Minister said Uganda is targeting transformation into a modern, industrialised USD 500 billion economy by 2040, with plans to grow the economy tenfold over the next 15 years. Tourism has been identified as one of the four key drivers of this growth.

He outlined several investment opportunities within the tourism sector, including the development of waterfalls, mountaineering and hill-climbing infrastructure, houseboats, and cruise services on the River Nile.

Among the flagship projects is the proposed cable car system in the Rwenzori Mountains, also known as the “Mountains of the Moon.” The mountain range, which forms the Rwenzori Mountains National Park, currently attracts about 10,000 visitors annually. With the planned developments, visitor numbers are projected to exceed 50,000 by 2030. Preliminary studies have indicated that the cable car project is both economically viable and environmentally sustainable.

Additional opportunities exist in the development of tourism recreational zones across Uganda’s islands and lakes, as well as in the construction and upgrading of tourism roads. The government has identified 35 priority roads, covering approximately 1,950 kilometres, to improve connectivity to national parks and other tourist attractions.

Kasaija also highlighted plans to further develop the Source of the Nile into a world-class tourism hub, with investments in cultural centres, accommodation facilities, water-based activities, and other visitor attractions.

He concluded by encouraging the Canadian delegation to engage further with the Ministry of Tourism for detailed information on investment opportunities, noting that Uganda offers significant untapped potential across multiple sectors.

The group of Canadian tourists also expressed happiness with their stay in Uganda. Although their trip was planned on short notice, they described it as a wonderful journey. They said they enjoyed interacting with Ugandans, noting that Uganda is blessed with people who always smile — unlike back home.

The tourists added that Uganda has diverse cultures and languages, and in some places they were even given local Ugandan names. They pledged to promote Uganda once they return to Canada.

Ambassador Kajik applauded the tourists for choosing Uganda and told them the country is open to everyone. He urged them to return and invest.