January 18, Colombo (LNW): Sri Lanka should look to deepen its investment engagement with Uganda following the conclusion of the country’s presidential election, which delivered a commanding victory to long-serving leader Yoweri Museveni.
The incumbent secured 71.65 per cent of the vote, comfortably defeating opposition challenger Bobi Wine, who garnered 24.72 per cent, and extending his rule into a seventh term.
President Museveni, who first assumed office in 1986, has remained the defining force in Ugandan politics for almost four decades. His sustained hold on power continues to shape both the country’s domestic direction and its standing within the wider East African region.
Reflecting on the outcome, Sri Lanka’s former High Commissioner to Uganda, Velupillai Kananathan, drew parallels between Museveni’s political longevity and Uganda’s broader national trajectory. He recalled arriving in the country in 1986, at a time marked by instability, and witnessing its gradual transition into a more secure and economically focused state with growing regional influence.
Uganda’s economy has maintained steady momentum in recent years, recording average growth rates of between six and seven per cent and positioning itself among East Africa’s stronger performers. With commercial oil production now on the horizon, expectations are rising for a new phase of development driven by infrastructure expansion, job creation and international collaboration. Analysts and citizens alike have emphasised the need for partnerships that balance growth with transparency and inclusive progress.
Supporters of President Museveni credit his long tenure with bringing political order and sustained economic planning after years of turmoil. Detractors, however, frequently characterise him as being favoured by Western powers, pointing to Uganda’s strategic role in regional security across the Great Lakes and Horn of Africa as a reason for continued international tolerance.
Ambassador Kananathan observed that policy consistency has been a decisive factor in attracting overseas investors. He noted that long-term stability has enabled businesses to plan with confidence, adding that Uganda has deliberately positioned itself as an accessible and investor-friendly economy, creating clear openings for Sri Lankan enterprises.
Sri Lankan companies have already established a notable footprint in Uganda, with more than 20 firms operating across various sectors. Many have found particular success in renewable energy, aligning with Uganda’s national priorities. Sri Lankan investors have become prominent contributors to mini-hydropower schemes, solar energy projects and rural electrification initiatives, all of which play a central role in the country’s development strategy.
According to Kananathan, the progress of these ventures is closely linked to government policies that encourage foreign participation, including safeguards for investments, incentives for public–private partnerships and reforms aimed at simplifying business procedures. He said these measures have helped foster an environment in which international investors can operate securely while supporting Uganda’s long-term economic goals.
