Uganda Seeks Malaysian Investments In Oil, Gas And Mineral Sectors

By Naveen Prabu Kuppusamy

KUALA LUMPUR, April 23 (Bernama) -- Uganda is seeking Malaysian investments in its energy and mineral sectors, with key opportunities in oil refining, critical minerals, and clean energy infrastructure, said its Energy and Mineral Development Minister Ruth Nankabirwa.

Nankabirwa said her country has vast resource potential and that her government is prepared to support foreign investors through a clear legal framework. 

bootstrap slideshow

"You will not be left to deal with landowners alone, as the state steps in — the minerals belong to the government, even if the land is privately owned," she said at the Uganda: The Pearl of Africa Business Forum and Expo 2025 here today.

She said commercial oil was discovered in 2006, and two development areas are progressing well.  

"One area at Lake Albert is expected to generate 40,000 barrels of crude oil per day. The second, located towards Northern Uganda, Tilenga, is expected to produce 190,000 barrels per day," she said.

bootstrap slideshow

She also pointed out the country’s rare earth elements, gold, iron ore and copper reserves, adding that Ugandan law prohibits the export of raw minerals without local value addition.

“We don’t allow minerals to be exported without value added. We want to industrialise at home. That’s why we are inviting investors who are ready to process and partner with us locally,” she said.

Nankabirwa noted that Malaysia’s experience in palm oil, downstream industries, and solar energy has positioned it as a strategic partner.

“If you are interested in solar development or partnering with regional electricity distributors, we are open to it. We want to walk with you,” she said.

She added that electricity supply for industrial use is stable and largely clean, with over 86 per cent of the country’s energy mix derived from hydropower.

Meanwhile, its Finance Minister Matia Kasaija gave the assurance that his country remains peaceful, secure and stable despite neighbouring countries experiencing difficulties.

“If you choose to invest in Uganda, you will find clear and supportive laws that safeguard your capital, enabling you to run your business confidently and profitably.

“If at any point you decide to exit, you can do so freely, including repatriating your initial investment and any profits earned,” he said.

Uganda’s state ministers for animal industry, Bright Rwamirama and for foreign affairs (Regional Cooperation) Mulimba John also attended the forum.

The two-day event was organised by the High Commission of the Republic of Uganda in Malaysia and World-One Business Federation. It positions Uganda as a key investment destination by promoting collaboration, knowledge sharing, networking, and showcasing the country’s rich resources.

-- BERNAMA