French Chamber of Commerce launched in Uganda

The Embassy of France has launched the French Chamber of Commerce with a view to increase the Uganda-French investment and trade.

The move is anticipated to generate over 4 billion dollars’ worth of Foreign Direct Investments over the next 3 years.

According to the Ambassador of France to Uganda, H.E. Xavier Sticker, the chamber will ensure Ugandan companies achieve French exposure.

While presenting positive trends in the development of the economic relations between France and Uganda, it was revealed that from just 9 in 2010, there are now 40 French companies in Uganda.

In 2023, they generated sales of up to USD 875million and employed more than 3000 Ugandans,30% of whom are women. In 2022 and 2023 their investments doubled to reach USD 1.6 billion or 53% of FDI inflows into Uganda.

The President of the French Foreign Trade Advisory Committee, Jean Gavalda, notes that they aim to promote networking which will pave way for deeper and stronger bilateral economic relations.

This is on the back of Uganda’s political stability and investor friendly legislation which has enabled French companies to operate successfully while taking advantage of numerous market opportunities, in the emerging economy.

President of the French Chamber of Commerce, Thomas Pelletier says French Companies are the leading investors in the country and are active in almost every area of the economy including agriculture, energy, distribution, logistics, new digital technologies, and electric mobility.

In the renewable solar energy sector,3 companies on 25% of Uganda’s solar power capacity, providing green energy to more than 120,000 homes while in regard to investing in human capital,in 2023,they offered more 46,000 hours of training to their employees and financed study grants for young Ugandans.

France is the first country in the European Union to set up a chamber of commerce in Uganda and the number of French companies has tripled in a space of 15 years, structured around a business club (Club d’Affaires de Kampala-CAK) that was created in 2017.

Now with a membership of 63, half of whom are Ugandan companies, the club has been integrated into the International Network of Chambers of Commerce and Industry (CCI).