President Museveni Promises to Support Somalia’s Bid to Join EAC

President Museveni has pledged to support Somalia in its bid to join the East African Community (EAC) and exploit trade opportunities that exist in the region.

Speaking during the closing ceremony of a two-day inaugural Uganda-Somalia business and investment summit held at Speke Resort Hotel in Munyonyo Kampala, Museveni said Somalia has all qualifications to join EAC, which include; sharing a border with one of the member countries, having a private sector-led economy and being a democratic country.

The summit attended by Somalia President Hassan Sheik Mohamud, among other dignitaries, aimed at providing a platform for the private sector, the business community and the government to discuss ways of reducing on the cost of doing business between the two countries.

President Mohamud has been in Uganda for a three-day State visit since Monday, where he held bilateral talks with his host at State House Entebbe on August 8.

Museveni and Mohamud also want the United Nations Security Council (UNSC) to lift an arms embargo on the Horn of Africa country to build the capacity to manage its security mandate.

In a joint communique, the two heads of State said they “appreciated the support of the Security Council in the stabilisation efforts in Somalia but called upon the UN body to consider lifting the arms embargo to enable the country shoulder her security responsibilities”.

The communique released after the talks and signed by Uganda’s Foreign Affairs Minister Gen Abubaker Jeje Odongo and his Somali counterpart Abshir Omar Jama also touches on other areas of mutual interest, including trade and investment.

Somali-owned businesses based in Uganda and other EAC states are upbeat about the summit, coming just a fortnight after leaders of the EAC agreed to fast-track Somalia’s admission to the bloc, offering an opportunity to invest and do business in the region.

Money transfer company Dahabshiil, one of the key participants in the summit and with a presence in Uganda, said the two-day event is an opportunity to explore and deepen trade and investment opportunities.

“This business summit between governments and business communities is vital because it not only opens up opportunities for business people to interact but also gives us a chance to understand the challenges our people in this region face,” said Dahabshiil, chief executive officer Abdirashid Duale.

Other Somali big names at the summit include real estate entrepreneur Amina Hersi, also based in Uganda but with roots in Kenya, Somaliland and Somalia, boasting of a myriad of flourishing businesses such as Atiak Sugar Factory and commercial properties in the capital.

Somalia is currently suffering a devastating drought and food insecurity, and the summit is seen as an opportunity to learn ways of addressing the challenges through public-private partnerships.

According to SomInvest, the Horn of Africa country’s investment promotion agency, Somalia is looking at the region and beyond to attract investors in renewable energy to boost power generation capacity. According to assessments by the African Development Bank (AfDB), renewable energy is “a viable and the immediate way to increase affordable energy for Somalis”.

“Investments in renewable energy are multiplying in Africa as the costs of renewable technologies decrease. Somalia has one of the highest potentials for onshore wind power in Africa and one of the highest rates of daily total solar radiation in the world,” said AfDB.

During his stay, he visited the (military) Luwero Industries in Nakasongola district and also participated in the inaugural Uganda-Somalia Investment Business summit at Speke Resort Munyonyo.

Museveni also used the summit to invite the Somali business community to come and invest in Uganda.

“Businesspersons are the most useful group because these people know the importance of the market,” he went on. “Businesspeople, historically, have contributed to the integration of countries. If you are a businessman, you should not look at the tribe or religion of the customer.”

Muhamud was seen off today at Entebbe International airport by the minister of Foreign Affairs Jeje Odongo, Somalia’s minister of Foreign Affairs, Abshir Omar Jama, the ambassador of Uganda to Somalia, Maj Gen Nathan Mugisha; the Somali ambassador to Uganda, Ali Mohamed, Brig Gen Dr Gonyi chief of staff Air. Muhamud was elected President of Somalia on May 15, 2022, defeating the incumbent Mohamed Abdullahi Farmajo.

Apart from his Foreign minister, President Muhamud’s delegation also includes the ministers of Defence, Abdulkadir Mohamed Nur, and Commerce, Jibril Abdirasid Hagi Abdi.

Others are lawmakers and other State officials. Somalia’s Ambassador to Uganda, Ali Mohamed Mohamud, is also part of the delegation.