East Africa is ‘next destination’ for Qatari investments, says Qatar Chamber executive

Uganda and other countries in East Africa could be the next destinations for investments from both the Qatar Investment Authority (QIA) and the Qatari private sector, Qatar Chamber first vice-chairman Mohamed bin Towar al-Kuwari has said.
Al-Kuwari is representing the chamber at the ‘East Africa Investment Forum and Trade Exhibition’, which is being held on the sidelines of the ‘19th Non-Aligned Movement (NAM) Summit’ and the ‘G77+ China Summit’ in Kampala, Uganda.
Held under the theme ‘Deeper Cooperation in Trade, Tourism, and Investment for Shared Global Affluence’, the forum, which will run until January 18, aims to create opportunities in trade, tourism, investment, and technology transfer.
It seeks to promote investment opportunities in key sectors, such as tourism, agri-value addition, mineral beneficiation, oil and gas, information and communication technology (ICT), infrastructure development, real estate, and services. The forum also endeavours to facilitate joint venture partnerships, affordable financing, technology transfer, and market opportunities.
Addressing the forum’s inaugural session, al-Kuwari stated that Qatar, Uganda, and the East African region “enjoy close relations that have deepened over time,” noting that this is evident through frequent mutual visits at the leadership level and the number of agreements signed to enhance bilateral relations.
Al-Kuwari emphasised that Qatar and Uganda share strong and close relations as members of several organisations, including the Organisation of Islamic Cooperation (OIC), the UN, and the Afro-Arab Summit.
“This shows Qatar’s interest in forging investments in Uganda and exploring opportunities available across various sectors,” al-Kuwari noted, adding that Qatar’s private sector is eager to invest in Uganda.
He emphasised that Qatar topped the world’s liquefied natural gas (LNG) production and marketing, supplying gas to numerous countries, adding that QatarEnergy has concluded exploration and production agreements with several countries on various continents, awarding contracts worth tens of billions of dollars to implement the North East Field and North South Field expansion projects.
“These projects are expected to increase Qatar’s LNG production capacity from 77mn tonnes per year (MTPY) to 126 MTPY, with production expected to begin in 2026 and 2027 for the two fields, respectively,” al-Kuwari explained.
He said, “In 2022, Qatar’s GDP reached $190bn. These factors facilitated cooperation between Qatar, Uganda, and the region, which abounds with investment opportunities, serving as sources of commodities, food, raw materials, and attractive tourist destinations.”
Elaborating on Qatar’s investment activities, he highlighted that the country is a significant global investor, strategically deploying its funds through the QIA. He said the QIA currently manages an estimated $475bn in assets, noting that Qatari firms have investments in many countries with primary destinations in the EU, the Gulf Cooperation Council, and other Arab countries.
He said: “This could be Africa’s opportune moment to secure its place on Qatar’s investment stage. Uganda’s economy has been ranked among the fastest developing economies, with a stable macro-economic environment and conducive trade and investment policies.”
Al-Kuwari said Qatari businessmen and investors are keen on exploring opportunities available in Uganda across various sectors, including mining, energy, roads, railways, oil and gas, agriculture, and real estate.