The Uganda Development Bank (UDB) today opened the Inaugural Uganda Development Finance Summit, a two-day high-level gathering under the theme “Transforming Africa’s Future through Finance, Policy & Innovation.”
The summit has brought together Heads of State, policymakers, development finance leaders, private sector champions, and development partners to chart new pathways for Africa’s structural transformation.
As Guest of Honour, H.E. President Yoweri Museveni challenged leaders to anchor Africa’s development in vision and integrity, warning that without these, finance and policy interventions would not achieve their intended impact.
“When you come to manage an economy, the question is: what is your vision, what is your diagnosis of the economy, and what solutions do you bring for the problems facing the people?” – President Museveni.
Drawing from history and culture, the President emphasized that Africa is still young in its development journey compared to Europe, and that the absence of a strong middle class and a weak savings culture remain major barriers to growth.
“It is better to starve than to eat the seeds. Unfortunately, Africa’s middle class often eats all the seeds, and the very teeth that consumed them end up laughing at barren gardens.”
The first plenary, moderated by Omar Ben Yedder, Publisher & Managing Director of IC Publications, featured thought-provoking interventions from leading policymakers and financiers.
Dr. Arkebe Oqubay, Former Senior Minister of Ethiopia, called for strategic and export-oriented industrial policy, arguing that domestic markets alone cannot sustain Africa’s growth.
“An economy that does not look outward and remains confined to the domestic market is destined to underperform. Export competitiveness is non-negotiable.” – Dr. Arkebe Oqubay.
Patricia Ojangole, Managing Director of UDB, highlighted the power of partnerships in financing Uganda’s transformation. “Development in Uganda cannot be imported. It must be home-grown, collaborative, and anchored in strong partnerships across government, private sector, and development finance institutions.” – Patricia Ojangole
Day Two of the Summit will feature additional plenary sessions, fireside chats, and sector-focused discussions, bringing together development finance leaders, policymakers, and industry experts to deepen dialogue on: Financing industrialization and innovation, De-risking private sector investment, Building resilient economies; and Strengthening Africa’s integration into global value chains among others.
The Summit will close with a high-level communiqué, capturing the commitments and consensus forged in Kampala.
