In a key moment for his re-election campaign, President Yoweri Museveni received a formal endorsement from Uganda’s business community during the Kampala Business Forum 2025. At the event, numerous business leaders praised his leadership, citing the peace and stability under his presidency as a major factor in the growth of their enterprises. This endorsement came as a powerful testament to his economic policies, especially in regard to fostering a stable environment for business in Uganda.
Museveni’s Commitment to Infrastructure Development
In response to the support from the business community, Museveni vowed to further invest in infrastructure development, using revenue from the country’s burgeoning oil and gas sector, which is set to be commercially exploited next year. The President emphasized that the middle class, which drives key sectors such as agribusiness, manufacturing, and services, is the engine of Uganda’s economy. By improving infrastructure, he believes he can reduce the cost of doing business, making it easier for entrepreneurs to expand their operations and for consumers to access goods and services.
“The Ugandan middle class runs the engines of the economy through agribusiness, manufacturing, and other services,” Museveni told business executives at the forum. His pledge to prioritize infrastructure projects reflects his understanding of the needs of Uganda’s growing business sector.
Business Leaders Speak Out in Favor of Museveni
The endorsement from Uganda’s business leaders was unanimous. Many CEOs and business owners credited Museveni with providing a stable environment that allowed their enterprises to thrive. Business leaders highlighted the expansion of factories, the increase in investments, and the overall positive changes in the business climate. In their eyes, Museveni’s leadership was instrumental in the growth they had experienced.
However, not all was harmonious. The absence of top leaders from the Kampala City Traders Association (KACITA) was noted, with signs of internal divisions within the trader community. John Kabanda, President of the Federation of Uganda Traders Association (FUTA), raised concerns about the lack of attention given to smaller traders, particularly those affected by flooding in Kampala. Kabanda requested a meeting with the President, which Museveni graciously agreed to, promising to arrange a session to address their concerns.
Divisions in Kampala’s Trader Leadership
While many business leaders were quick to support Museveni, the absence of KACITA’s top leadership was striking. Some factions within the trader community felt disconnected from the central government’s policies, especially as they deal with local issues like flooding and other infrastructure challenges. Museveni took the opportunity to criticize KACITA, calling it a “comprado bourgeoisie,” a term used to describe a group of people perceived as aligning with foreign capitalist interests at the expense of local businesses.
The decision to meet with traders like John Kabanda signaled Museveni’s openness to addressing these grievances. While the business community’s endorsement is significant, it remains to be seen whether it will have a decisive impact on the upcoming election, especially as some trader factions express dissatisfaction.
The Role of Oil Revenues in Economic Growth
Museveni’s promise to use oil revenues to boost infrastructure is a cornerstone of his re-election pitch. The oil and gas sector, which is poised to generate substantial income for Uganda, is seen as a key driver of future economic growth. By investing in critical infrastructure, Museveni aims to lower operational costs for businesses and improve the overall efficiency of Uganda’s economy.
The strategic focus on infrastructure is expected to benefit not just large corporations but also smaller businesses, particularly those in rural and semi-urban areas. By investing in roads, energy, and logistics, Museveni’s government aims to create a more inclusive business environment, helping Uganda’s middle class expand its role in the economy.
Museveni’s Legacy and Future Prospects
As the 2026 election approaches, the business community’s endorsement of Museveni highlights his ongoing influence in shaping Uganda’s economic landscape. His focus on the middle class and infrastructure development is likely to resonate with many voters, particularly those in the business sector who have benefited from his policies.
While divisions within Kampala’s trader community suggest that not everyone is fully behind his re-election bid, the support from Uganda’s growing middle class and business leaders is a significant boost. The upcoming election will test whether this endorsement translates into broader political support.
Museveni’s pledge to use oil revenues for infrastructure development and his commitment to reducing the cost of doing business in Uganda are central to his re-election campaign. While there are divisions within the business community, his focus on empowering the middle class and improving infrastructure is likely to strengthen his position ahead of the 2026 elections. Whether this support translates into electoral success remains to be seen, but the business community’s backing signals a strong foundation for his future leadership.
