Since Saturday, March 11, Ugandan President Yoweri Museveni has been making an official visit to Algeria. The two countries, strategic on the African natural resources map, hope to strengthen their mutual investments in various sectors.
Uganda and Algeria have strengthened their cooperation through the signing of 7 new bilateral conventions. These signatures took place during the visit of President Yoweri Museveni to his counterpart Abdelmadjid Tebboune.
Consisting of two cooperation agreements and five memoranda of understanding, the agreements cover various sectors vital to the economies of both countries. These are the sectors of energy, tourism, trade, agriculture, animal health, as well as higher education and scientific research, we learn from the Algerian press. The objective for the two governments is to facilitate mutual investments in these areas, while allowing Algeria to implement its strategy of economic rapprochement with the rest of Africa.
In a statement, President Abdelmadjid Tebboune thus highlighted “ Algeria’s concern to develop its relations with Uganda and its African depth, an approach which it considers to be a strategic orientation ”.
Fourth oil producing country in Africa, Algeria has extensive experience in the management of energy resources which constitute its main source of foreign currency. While it started its first oil drilling activities this year, Uganda whose news has been punctuated in recent years by the discoveries of natural resource deposits could benefit from the expertise of the Maghreb country in the matter.
Remember that in February, Algeria announced that it wanted to invest a billion dollars in the financing of development projects in Africa. For the time being, the details of these investments have not yet been specified.
