Uganda and Norway Strengthen Ties Through Innovative Partnership
By The Public Lens
Uganda’s Prime Minister, Robinah Nabbanja, has praised Norway’s commitment to Uganda’s development, highlighting their long-standing partnership.
This sentiment was echoed during the signing of a Memorandum of Understanding (MoU) between Uganda’s Ministry of Trade, Industry, and Cooperatives and Innovation Norway.
The MoU marks a significant milestone in Uganda’s efforts to boost trade, investment, and cooperation. According to Nabbanja, this partnership will drive economic growth and development through data innovation, enhancing decision-making for cooperative societies.
Uganda’s cooperative sector contributes significantly to the country’s GDP, accounting for approximately 33% and providing employment opportunities for 1.5 million Ugandans.
The introduction of Norwegian technology is expected to boost industrialization, job creation, and economic diversification.
Key Benefits of the Partnership
– Job Creation: Expected to create over 10,000 jobs in the next three years
– Economic Growth: Every dollar invested in technology generates a return of $2.50 in economic growth
– Export Earnings: Uganda’s export earnings expected to increase by 20%
– Capacity Building: Prioritizing training and skill development for cooperative society members, entrepreneurs, and small-scale enterprises
The partnership will focus on data innovation, technology innovation, dialogue, research and development, and capacity building.
The Ministry of Trade, Industry, and Cooperatives will work closely with Innovation Norway to promote data-driven innovation and support Norwegian technology companies.
Espen Kvelland, CEO of Wakandi Uganda, expressed pride in the achievements of the two countries, thanking Bank of Uganda, banking partners, mobile money partners, and insurance partners for their unwavering support.
This partnership reaffirms Uganda’s commitment to deepening cooperation with Norway, exploring new avenues for collaboration and mutual growth.
