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India–EFTA Trade Pact Takes Effect, $100 Billion Investment Expected

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India–EFTA Trade Pact Takes Effect, $100 Billion Investment Expected

India–EFTA Trade Pact Takes Effect, $100 Billion Investment Expected

 

New Delhi, Oct. 1, 2025 —India and the European Free Trade Association (EFTA) formally launched their trade partnership this Wednesday under the Trade and Economic Partnership Agreement (TEPA), with EFTA pledging $100 billion in investment over 15 years, the EFTA Secretariat reported.

Signed in March 2024 after 16 years of negotiations and 21 rounds of talks, the agreement covers goods, services, investment, intellectual property, government procurement, competition, and sustainable development (EFTA Secretariat, 2024). Together, India and the EFTA countries — Switzerland, Norway, Iceland, and Liechtenstein — represent a combined GDP of about $5.4 trillion.

At the Prosperity Summit in New Delhi, Commerce Minister Piyush Goyal said the pact aims to strengthen “resilient and reliable global supply chains” (Ministry of Commerce & Industry, India, 2024).

The deal reduces tariffs on 82.7% of India’s tariff lines, covering 95.3% of EFTA exports, while excluding sensitive sectors like dairy, soy, and coal. Swiss luxury goods and diamonds will see phased duty reductions, Reuters reported.

FTA’s investment is expected to generate approximately one million jobs in India over the next 15 years, according to the Ministry of Commerce. Analysts caution that the pace of investment and careful monitoring of domestic industries will determine the deal’s overall success. “The $100 billion commitment is ambitious,” economist Biswajit Dhar told Indian Express (2024).

The agreement also includes provisions on intellectual property, government procurement, competition, and sustainable development, reflecting modern trade standards (EFTA, 2024). It aligns with India’s strategy to diversify trade beyond the U.S. and China, while EFTA members gain opportunities in pharmaceuticals, machinery, and financial services, and indirect access to broader European markets.

The entry into force of TEPA marks a milestone in India’s global trade strategy and sets the stage for deeper economic engagement with Europe, potentially shaping future agreements with other international partners.

Botswana to Launch Citizenship by Investment Program in 2026

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Botswana to Launch Citizenship by Investment Program in 2026

Botswana to Launch Citizenship by Investment Program in 2026

Botswana will introduce its first-ever Citizenship by Investment (CBI) program in early 2026, developed in partnership with Arton Capital. The program aims to attract foreign investment to diversify the economy beyond diamonds, directing funds into housing, tourism, renewable energy, mining, and financial services (BotswanaCitizenship.com, 2025).

The minimum investment is expected to be $75,000–$90,000, with a structured quota system and eligibility checks. Spouses and dependent children are anticipated to qualify, consistent with global CBI norms (BotswanaCitizenship.com, 2025).

Global and African Context

Worldwide, Caribbean nations such as Saint Kitts and Nevis and Dominica have long-standing CBI programs, requiring investments above $200,000 and offering passports with visa-free access to 143–154 countries (IMI Daily, 2025). Malta’s program requires €600,000 for a 12-month residence period and provides access to 184 countries (Global Residence Index, 2025).

In Africa, São Tomé and Príncipe ($90,000), Seychelles ($1,000,000), and Egypt ($250,000) have similar programs, with passports offering varying degrees of visa-free travel (Passport Index, 2025). Botswana’s program is positioned as a more accessible, cost-effective option for investors while maintaining selectivity and economic impact.

Strategic Significance

While Botswana’s passport offers fewer visa-free destinations than some global programs, the lower investment threshold and focus on economic diversification make it an attractive gateway for investment migration in Africa.

Prospective applicants should consult BotswanaCitizenship.com for updates, eligibility, and registration information.

WBJ Uganda 2025 Edition Out Now

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WBJ Uganda 2025 Edition Out Now

WBJ Uganda 2025 Edition Out Now

World Business Journal, Uganda 2025 edition is an investment guide for executives, policymakers, and financiers seeking to understand one of Africa’s fastest-growing economies. Drawing on field reporting, sector data, and an exclusive interview with President Yoweri Kaguta Museveni, the edition examines Uganda’s growth trajectory and the opportunities shaping its markets.

The publication covers Uganda’s main growth pillars: economy and investment, industrialisation, energy, finance, ICT, tourism, infrastructure, and housing. At the centre is the government’s Tenfold Growth Strategy, which sets out to expand GDP from roughly USD 50 billion in 2023 to USD 500 billion by 2040, according to planning documents from the Ministry of Finance, Planning and Economic Development.

Uganda’s investment climate is assessed through both leadership perspectives and recent performance data. Net foreign direct investment (FDI) inflows reached USD 2.99 billion in 2023, according to World Bank data. The Ugandan government has reported that by April 2024, cumulative FDI had climbed to USD 3.01 billion. These inflows mark Uganda as one of the stronger performers in East Africa.

From small enterprises to large companies, businesses across diverse industries are innovating, scaling up, and creating new opportunities. Industrial parks are becoming vibrant centers of employment, skills development, and regional trade, while entrepreneurs are reshaping markets and driving growth in ways that extend far beyond traditional sectors. Grassroots programmes such as the Parish Development Model are designed to shift millions of households from subsistence to commercial participation, widening the domestic market base.

For international investors, Uganda 2025 highlights where and why capital is flowing, how reforms are changing the operating environment, and the sectors likely to anchor Uganda’s economic transformation in the years ahead.

 

George William Nyombi Thembo on Ensuring Responsible Communication in a Digital Age

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George William Nyombi Thembo on Ensuring Responsible Communication in a Digital Age

George William Nyombi Thembo on Ensuring Responsible Communication in a Digital Age

 

World Business Journal talks to George William Nyombi Thembo, Executive Director at the Uganda Communication Commission, about the expanding communication landscape, the barriers within the sector, and the need to balance freedom of expression with content regulation on social media.

 What are the latest trends and shifts shaping the communication landscape in Uganda?

Mobile subscriptions have risen to 41M, and mobile internet subscriptions have reached 19.5M. Mobile money registrations increased to 32M, while smartphone ownership grew to 18M. Feature phones were estimated at 26M and basic phones at 2.4M. The number of telecommunication towers climbed to 5,204, and licensed radio stations rose to 283. These trends indicate a robust expansion of mobile technology and media in the country.

How does UCC balance freedom of expression with content regulation on social media?

We acknowledge the importance of freedom of expression as enshrined in our constitution. Thus, UCC appreciates the role of social media platforms in promoting an informed citizenry and democratising information production and dissemination. However, while the constitution and other laws grant media rights and freedoms, these are not absolute. They must be exercised with responsibility, as others can get injured in the process. Therefore, in the exercise of their freedom to produce and share content, social media users must act within the boundaries of the laws and regulations pertaining to information dissemination.

How do you plan to support and foster innovation within the communication sector while balancing regulatory oversight and industry growth?

We are not only a regulator of the communications sector but also an enabler of communication services.

Therefore, regulatory activities such as licensing, spectrum allocation, and enforcement of laws, regulations, policies, guidelines and standards go hand in hand with interventions that seek to uplift the ICT sector through innovation and growth. In other words, innovation doesn’t have to come at the expense of standards and other UCC functions such as consumer protection.



Minister Musenero on Turning Research Into Products That Drive Economic Growth

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Minister Musenero on Turning Research Into Products That Drive Economic Growth

Minister Musenero on Driving Economic Impact Through Science and Technology

 

World Business Journal talks to Hon. Monica Musenero Masanza, Minister of the Secretariat for Science, Technology, and Innovation, about bridging the gap between knowledge and market application to ensure that innovation visibly contributes to the economy. The discussion also covers how import data is used to analyse and prioritise products for local manufacturing and innovation, along with the latest updates on the Journey Program.

 How have scientific research, technological advancements, and innovative practices influenced economic progress?

Previously, science was primarily viewed through research, lacking a clear link to economic development. Now, we have clarified how research institutions, like universities and the Uganda Virus Research Institute, can intentionally drive economic growth. Facilities like Lwera have been established to bridge the gap between knowledge and market application. We now understand the process of transforming ideas into market-ready products, from conceptualisation to manufacturing and mass production, ensuring that innovations contribute effectively to the economy. As of June 2024, we contributed over $26M to the economy through our STI products and created a total of 50,000 jobs over the past four years, aiming to significantly amplify our impact moving forward.

How do you identify market gaps and prioritise products for local manufacturing?

We collaborate with government agencies to analyse import data, and our goal is to reduce our importation index from over 90% to 60%.

Our 3 key performance indicators are import substitution, export complexity, and productivity acceleration. We have encouraged institutions like Makerere University and the National Agriculture Research Organisation (NARO) to adopt a commercialisation mindset, allowing them to package and market their innovative products rather than just distribute them for subsistence farming. This shift is fostering economic growth by linking research with industry, resulting in successful exports and building trust in local capabilities.

Which companies have achieved maturity in their development phases through the Journey programme?

Kira Motors is now in phase three. We have marketed products and established the E-Bus Xpress, which is currently in service and generating income. The team is expanding and transitioning from a research focus to a professional manufacturing operation with an automated system. We now offer various models tailored to client needs and are actively seeking export markets to develop a mature brand. We’re committed to monitoring our technology to ensure reliability, having achieved a combined mileage of 700,000 km with our buses.

The Banana Project has received ISO certification and is adapting technology to boost export capacity. Currently, there is no automated machine for peeling matooke, which limits our volume despite high-quality products. We are developing a prototype machine with sensors for each banana finger, expected to be ready by year-end. This innovation could increase productivity tenfold at our pilot plant. We are in early phase three of this project.

Microhaem, Uganda’s first WHO-approved malaria diagnostic kit company, is expanding into HIV and TB diagnostics. This approval boosts our credibility and attracts support. 

Dei BioPharma is advancing to phase four, built on mature technologies and currently navigating regulatory approvals after manufacturing trial batches. They plan to supply the Ugandan government and aim for exports to neighbouring countries, starting with generics before moving into antibiotics, biosimilars, cancer drugs, and mRNA vaccines



Tourism and Conservation in Uganda: Insights from UWA Executive Director James Musinguzi

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Tourism and Conservation in Uganda: Insights from UWA Executive Director James Musinguzi

Tourism and Conservation in Uganda: Insights from UWA Executive Director James Musinguzi

World Business Journal talks to James Musinguzi, Executive Director, UWA, about opportunities being offered to domestic and international investors to develop and operate tourism accommodation in protected areas, maintaining the human-wildlife balance, and research work undertaken to aid wildlife and ecosystem management policies.

How is the escalating human-wildlife conflict being addressed, and what changes have been observed?

Human-wildlife interactions are major obstacles to wildlife conservation, mainly due to habitat loss from agricultural expansion. Historically, elephants migrated from Queen Elizabeth National Park to Kibaale Conservation Area, Murchison Falls National Park, and Sudan, but these corridors have been lost. 

We are working to rebuild corridors in the northern region to connect to Sudan. Establishing these corridors is a priority.

Two main factors contribute to wildlife confinement: population growth, resulting in the destruction of corridors, and environmental changes like climate change and invasive plant species that limit forage availability. 

Several interventions address these issues. Electric fencing, trenches, and boardwalks help confine animals. Community beekeeping not only provides honey but also deters elephants. Educating communities about wildlife behaviours and seasonal patterns mitigates conflicts. 

We are recruiting scientists to study animal behaviours and collaborate with sociologists to raise public awareness about wildlife movements. Wildlife scouts and rangers manage wildlife, and a compensation system has been established for damages caused by animals. 

What initiatives are in place to foster and facilitate partnerships with both domestic and international investors?

Investors are offered attractive opportunities to develop and operate tourism accommodation in protected areas. This enables both Ugandan and non-Ugandan investors to pursue long-term concessions of 25 years or more.

This year, we successfully signed three significant concession agreements with private investors to develop and manage high-end tourism infrastructure in Murchison Falls, Queen Elizabeth, and Kidepo Valley National Parks. 

Which key findings have emerged from the research and monitoring program?

Notable findings from the past year reveal a decline in lion populations, primarily driven by infanticide, where male lions kill their infant competitors. Current genetic studies are focused on assessing the genetic makeup of lions in Queen Elizabeth National Park and Murchison Falls National Park to support translocation efforts aimed at repopulating these areas.

Research also highlights population trends, indicating increases in elephants and gorillas. Rhinos are thriving in Ziwa Rhino Sanctuary, leading to a translocation plan to move them to Ajai Wildlife Reserve for improved habitat conditions. Research plays a crucial role in addressing invasive species, managing animal populations, and prioritising indigenous tree species for park restoration.

First Oil Timeline and Energy Reforms: Minister Nankabirwa Outlines the Road Ahead

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First Oil Timeline and Energy Reforms: Minister Nankabirwa Outlines the Road Ahead

 

First Oil Timeline and Energy Reforms: Minister Nankabirwa Outlines the Road Ahead

World Business Journal talks to Hon. Ruth Nankabirwa Ssentamu, Minister of Energy and Mineral Development, about the Petroleum Supplies Act, modern cooking solutions, UEDCL’s future after the Umeme buyout, first oil production timelines, and the upcoming licensing bidding round.

What prompted the amendment of the Petroleum Supplies Act to make UNOC the sole importer, and what effects has this had on fuel supply and prices?

The key objectives of amending the Petroleum Supplies Act to designate UNOC as the sole importer were twofold. First, the amendment aimed to maintain a steady fuel supply in Uganda, particularly during periods of political unrest, as the previous dependence on intermediaries frequently resulted in Ugandan OMCs (Oil Marketing Companies) receiving less priority. This change has successfully guaranteed product availability nationwide.

Second, the amendment aimed to reduce fuel prices by eliminating unnecessary layers that inflated costs. This goal has also been met, with pump prices decreasing.

What is the latest on the Clean Cooking Unit and efforts to shift Ugandans to modern cooking fuels?

The Clean Cooking Unit, under the Renewable Energy Department, led by Dr. Brian Isabirye, is operational but still developing. Its focus is on facilitating the transition from traditional cooking methods to modern ones, addressing challenges in adaptation. Many Ugandans, even those with electricity, still rely on charcoal due to stigma and fear surrounding alternatives like Liquefied Petroleum Gas (LPG). 

The unit has organised exhibitions to demonstrate modern cooking techniques and promote the benefits of these technologies. The government has subsidised these clean cooking solutions, making them affordable. Subsidies vary, with some technologies at 30% and others at 40%. This initiative is part of a $638M World Bank loan, which will be utilised over 4 years, starting this year.

What advantages will the shift from UMEME to UEDCL offer?

UEDCL is transitioning away from the previous Umeme model, which operated on a 20% return on investment. The transition is expected to bring significant benefits, including lower electricity costs, improved reliability, and better service quality.

The government will provide $50M in funding for the first year, with plans for this support to continue over the next 5 years.

UEDCL will also seek a joint venture partner to inject expertise and capital into distribution improvements.

Is the oil and gas sector on track to meet the target for first oil production in 2025, and will the third licensing round still take place in June 2025?

Due to global challenges and financing delays, we have adjusted our expectations for first oil production to 2026 or early 2027, while still proceeding with the third licensing round this year, focusing on the Moroto Basin, Lake Kyoga Basin, and Hoima Basin.

What is the status of the grid stability study and floating solar panels?

The grid stability study and the evaluation of floating solar panels are set to be finalised by Q3. The grid study will help determine how much additional load the national grid can support, addressing current limitations in distribution infrastructure for last-mile connections. This is vital for integrating solar energy and mini hydropower projects.

For floating solar panels, we are receiving investor applications, but we need to complete our study first. This involves consultations with stakeholders, particularly regarding shared water bodies like Lake Victoria. Once finalised, we anticipate a significant increase in solar installations in these water bodies.

 

Future of Rail Transport in Uganda: URC Outlines Key Developments and Upgrades

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Future of Rail Transport in Uganda: URC Outlines Key Developments and Upgrades

Future of Rail Transport in Uganda: Uganda Railway Corporation Outlines Key Developments and Upgrades

World Business Journal talks to Benon M. Kajuna, MD of Uganda Railway Corporation, about recent advancements in revitalising the railway system, including significant infrastructure upgrades, new asset acquisitions, and the launch of the first phase of the Standard Gauge Railway (SGR) project. The critical challenges that must be surmounted to restore the company to profitability are also addressed in the discussion.

What are the latest updates on the 10-year transformation plan?

Key developments include the rehabilitation of the Meter Gauge Railway (MGR) from Malaba to Kampala and the Mukono-Kampala line. The northern line from Tororo to Gulu is 50% complete, connecting to the Gulu Logistics Hub.

Photo credit: URC

We have 4 mainline locomotives for the Malaba to Mombasa route. Infrastructure projects include rehabilitating sections from Malaba to Mukono, Kampala to Port Bell, and Kampala to Kyengera, alongside upgrading stations and fencing 20 km to Namanve. We aim to enhance water transport between Port Bell and Jinja and are pursuing a dry dock project for waggon rehabilitation on Lake Victoria.

We are currently procuring additional rolling stock, including 10 new locomotives, developing a railway transport master plan, an Enterprise Resource Planning system, automated train control, and a Railways Training School for skills development.

Has construction work started on the Standard Gauge Railway (SGR) project?

We have advanced over $83M to Yapi Merkezi for mobilisation and initial preparations for the 272 km electrified railway from Malaba to Kampala, designed for passenger speeds of 120 km/h and cargo speeds of 100 km/h.

Photo credit: URC

Mobilisation will take approximately 6 months as we secure financing for the construction, estimated to cost $2.7B.

SGR will be built in phases: the first phase covers eastern Uganda from Malaba to Kampala; the second phase extends from Kampala to western Uganda, linking to DRC’s port and Rwanda through Mirama Hills; the third phase runs from Tororo to northern Uganda, connecting Gulu to South Sudan and DRC via Pakwach.

Kenya has constructed the line from the port of Mombasa to Naivasha, aiming to connect to Malaba and Uganda.

This project will transform Uganda into a regional transport hub, reducing costs and transit times while boosting investments and trade.

What are the most significant barriers to growth that URC is currently facing?

We are operating below capacity due to the damage caused by the concession, leaving us with a $409M maintenance backlog.

Photo credit: URC

Our operating ratio is $2.50 spent for every $1 earned, which is unsustainable. We currently transport 250,000 tonnes annually, but need 550,000 tonnes to break even. I am optimistic about government support and hope to break even in 3–5 years if funding continues at this pace.

Ngamba Island: A Sanctuary Where Chimpanzees Find Healing and Hope

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Ngamba Island: A Sanctuary Where Chimpanzees Find Healing and Hope

Ngamba Island: A Sanctuary Where Chimpanzees Find Healing and Hope

World Business Journal talks to Dr. Joshua Rukundo, Executive Director of the Ngamba Island Chimpanzee Sanctuary, about the sanctuary’s vital role in offering a safe haven for rescued chimpanzees, the opportunities for visitors to observe these primates in their natural habitat, and the intriguing similarities between humans and chimpanzees.

Can you tell us more about Ngamba Island Chimpanzee Sanctuary?

Established in 1998 and operated by the Chimpanzee Trust, we span 95 acres of natural forest on Lake Victoria, designed to replicate the chimpanzees’ natural habitat.

 

Currently, we provide a home for 55 orphaned and rescued chimpanzees. Our sanctuary offers them a secure environment where they can heal and develop social bonds after enduring traumatic experiences, such as losing their mothers, poaching, or exploitation in circuses and bars.

Our dedicated team of over 22 caregivers and veterinarians ensures the well-being of our chimpanzees through a structured diet and strict welfare protocols. We recognise that releasing these chimpanzees back into the wild can be challenging due to the territorial nature of wild chimpanzee communities. As a result, many of our rescued chimps may remain with us for their entire lives, which can span up to 60 years.

At Ngamba Ecolodge, we offer tourists the opportunity to observe chimpanzees in their natural habitat through a range of experiences, including half-day, full-day, and overnight options.

We are also accredited by the Global Federation of Animal Sanctuaries (GFAS), which establishes standards for identifying legitimate animal sanctuaries and ensures consistent standards for animal care and facility operations. This global network provides us with access to vital resources and partnerships that strengthen our conservation impact, support, and visibility.

How similar are we to chimpanzees?

The more I learn about chimpanzees, the better I understand humans. As our closest living relatives, sharing about 98% of our DNA, chimpanzees offer crucial insights into human behaviour and social dynamics.

 

They are highly intelligent and resourceful, capable of using tools and solving problems creatively. Their adaptability to different environments, including their interactions with humans and their ability to navigate challenges, mirrors our own resilience.

Chimpanzees exhibit a wide range of emotions, such as joy, empathy, and even grief. They form strong social bonds and often support each other in times of distress, much like humans do. Their complex social hierarchies, respect for elders, and communal care for young ones highlight the importance of relationships in both species.

Play is vital for young chimps, helping them develop social skills through activities like wrestling and climbing. Adult chimpanzees also engage in comforting behaviours, such as grooming, to alleviate stress within their groups. This nurturing instinct parallels the human capacity for empathy and emotional support.

Studying them highlights the importance of relationships and compassion, offering valuable insights into our own nature.

KCCA’s Vision for Greater Kampala: Insights from Hajjat Sharifah Buzeki

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KCCA’s Vision for Greater Kampala: Insights from Hajjat Sharifah Buzeki

KCCA’s Vision for Greater Kampala: Insights from Hajjat Sharifah Buzeki

World Business Journal talks to Hajjat Sharifah Buzeki, Executive Director of KCCA, about transforming urban infrastructure in Greater Kampala under the GKMA-UDP program, including steps taken to improve waste management while prioritising community engagement to ensure that development projects meet residents’ needs.

What are the recent advancements in the Greater Kampala Metropolitan Area Urban Development Program?

(GKMA-UDP) is a $566M World Bank initiative focused on transforming urban infrastructure in Greater Kampala. 

Key objectives include enhancing mobility through road upgrades, improving drainage for urban resilience, creating jobs with modern workspaces, and strengthening institutional planning and investment capacity.

The program targets the upgrade of 43 roads over 74.5 km in phases. Phase I has started, and contracts have been awarded for 12 roads, totalling 19.85 km, ensuring that all right-of-way issues were addressed before contracting to avoid delays. Timely completion is crucial, as delivery is tied to funding under a results-based finance model.

Picture Credit: KCCA

Flooding is a persistent challenge; thus, a key project is completing the Lubigi Drainage Channel to manage stormwater and reduce flooding. Work is ongoing on critical drainage improvements along the Nakamiro Channel. Urban forestry initiatives will enhance green cover, improve water retention, and mitigate heat effects.

Job creation is another focus of GKMA-UDP, with plans to construct new markets and upgrade existing ones, providing modern workspaces for up to 20,000 individuals.

How is KCCA addressing waste management challenges following the Kiteezi incident?

In response to the Kiteezi incident, we have taken several measures to improve waste management. We have identified interim dumping sites, such as Katikolo in Mukono District and Nkumba, to manage the daily 2,500 tonnes of waste while we develop long-term solutions.

We secured 230 acres in Buyala, Mpigi District, for a new waste management facility that will use advanced treatment and recycling technologies.

Picture Credit : KCCA

A mandatory waste sorting system has been introduced across all sources—households, businesses, and schools—to promote recycling and reduce waste volume.

Community sensitisation efforts are underway to educate the public on waste management practices, and our teams conduct weekly clean-ups. The government has committed to decommissioning the Kiteezi landfill to prevent further environmental and health hazards. We are establishing a 200-meter buffer zone and flattening the garbage hill to stabilise the area during the phase-out of operations. 

What are your key priorities for your first year in office?

Picture Credit : KCCA

My top priority is to address urgent challenges in Kampala and improve residents’ quality of life. I aim to support street children by establishing transition centres and providing skilled training in farming and tailoring. I will create designated workspaces for informal businesses to reduce street chaos and empower local entrepreneurs.

 

My vision is to transform Kampala into a clean, vibrant city by enhancing hygiene and beautifying public spaces, fostering shared community responsibility.

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