The Uganda Chamber of Energy and Minerals (UCEM) today hosted the 2nd Annual Energy Convention at Four Points by Sheraton, Kampala, bringing together government leaders, industry players, investors, financiers, and innovators for a full day of discussions on the future of Uganda’s energy and minerals sector.
Held under the theme, “Ground Up: Powering Uganda’s Tenfold Growth Through Integrated Energy Transformation,” the Convention convened senior policymakers, sector executives, development partners, and financiers to examine the investments, financing mechanisms, and policy actions required to accelerate the growth of Uganda’s energy economy.
Throughout the Convention, discussions emphasized that energy should not be viewed merely as a utility but as a strategic investment capable of creating jobs, growing businesses, strengthening industries, and improving livelihoods across the country.
As part of the day’s programme, UCEM hosted a press conference that provided national and international media with direct access to the Convention’s key speakers, including the Minister of Energy and Mineral Development, the Chief Executive Officer of UCEM, and representatives from Stanbic Bank and the Uganda Energy Credit Capitalisation Company (UECCC). The session was moderated by UCEM Chief Executive Officer, Humphrey Asiimwe.
Addressing delegates, State Minister for Energy, Okaasai Opolot, outlined government’s vision for Uganda’s energy sector as a key driver of the country’s long-term economic transformation.
“Uganda’s ambition is to grow from a USD 50 billion to a USD 500 billion economy by 2040, and this transformation will be built on affordable, reliable and sustainable energy. Government’s priorities are to achieve universal electricity access by 2030 and scale generation to 52,000 MW by 2040, supported by transmission, distribution and off-grid infrastructure. The focus is on energy investments that drive industrial parks, mineral processing, agro-industrialization, tourism, and clean cooking to improve livelihoods. With an estimated USD 8.9 billion needed in energy infrastructure, Uganda is opening opportunities across generation, transmission, petroleum, petrochemicals, clean energy and mineral value addition for partnerships with the private sector and development partners. Government has established the policy framework and the focus is now on implementation. The Convention is therefore urged to deliver commitments that turn energy investments into industries, jobs and prosperity, because the future of Uganda’s tenfold economy depends on the decisions we make today.”
Speaking on Uganda’s first oil project, UCEM Governing Council Chairperson Aggrey Ashaba acknowledged that global geopolitical developments had affected project implementation.
“We never anticipated that the Gulf conflict would disrupt the supply of critical components needed for Uganda’s first oil project. However, as government, we continue to work closely with our partners to overcome these challenges.”
The Convention attracted delegates from government institutions, the private sector, development finance institutions, and international partners, reflecting the broad collaboration that UCEM says is essential to achieving Uganda’s energy transformation and supporting the country’s tenfold economic growth agenda.
UCEM concluded the event by expressing its appreciation to all partners, delegates, sponsors, and members of the media for their participation and continued support in advancing Uganda’s energy and minerals sector.
