In a significant step toward boosting Uganda’s green economy, President Yoweri Kaguta Museveni met with a delegation from EcoNetix, a global carbon asset management company, at State House Entebbe this afternoon. The meeting focused on exploring Uganda’s vast carbon removal potential and forging a partnership that could position the country as a leader in the global carbon market. The delegation, led by Ugandan investment advisor Mrs. Olivia Mugabe Mitterer, included former Austrian consul general Mr. Karl Wipfler, former Austrian Minister of Environment and Agriculture H.E. Elisabeth Koestinger, and EcoNetix founders Jakob Zenz and Paul Nimmerfall.

President Museveni warmly welcomed the delegation and emphasized the importance of international partnerships in unlocking Uganda’s economic potential. “The Chinese have capital and entrepreneurship, and we have labor and land. So, I am very happy to see some European entrepreneurs,” he said. The President’s remarks highlighted Uganda’s readiness to collaborate with global investors to harness its natural resources for sustainable development.

The delegation presented an ambitious plan to leverage Uganda’s carbon removal potential, which includes over 3 million hectares of forest and 14 million hectares of agricultural land. These resources position Uganda as a key player in the global carbon market, with the ability to generate high-quality carbon credits that can be traded internationally. EcoNetix, as one of Uganda’s implementation partners, will work closely with the government to elevate the country’s farmers and forestry projects, ensuring they meet international standards for sustainability and economic viability.

“EcoNetix is delighted to work with the government of Uganda to unlock its full carbon removal potential,” said Jakob Zenz, co-founder of EcoNetix. The partnership aims to generate up to $500 million in investments, which will not only strengthen Uganda’s climate resilience but also provide significant financial benefits for local communities. By scaling up high-integrity carbon credit projects, the initiative aligns with Uganda’s sustainable development goals and supports the transition to a green economy.

The collaboration between Uganda and EcoNetix is expected to have a transformative impact on the country’s agricultural and forestry sectors. Farmers and forest communities will gain access to new revenue streams through carbon credit schemes, which reward sustainable land management practices. This will not only improve livelihoods but also encourage the preservation of Uganda’s rich natural ecosystems.

President Museveni’s meeting with the EcoNetix delegation underscores Uganda’s commitment to addressing climate change while driving economic growth. The country’s vast forests and agricultural lands offer a unique opportunity to contribute to global carbon reduction efforts while creating jobs and boosting local economies. By partnering with EcoNetix, Uganda is taking a proactive approach to sustainable development, ensuring that its natural resources are used responsibly and equitably.

The initiative also reflects a growing trend of African nations leveraging their natural assets to participate in the global carbon market. As the demand for carbon credits continues to rise, countries like Uganda are well-positioned to benefit from this emerging market. The partnership with EcoNetix is a testament to Uganda’s potential to become a regional leader in climate action and sustainable development.

In addition to its environmental and economic benefits, the collaboration is expected to strengthen ties between Uganda and Austria, fostering greater cooperation in areas such as technology transfer, capacity building, and investment. The involvement of former Austrian Minister Elisabeth Koestinger highlights the importance of international expertise in driving sustainable development initiatives.

As Uganda moves forward with this groundbreaking partnership, the focus will be on ensuring that the benefits of carbon credit projects reach the most vulnerable communities. By empowering farmers and forest-dependent populations, the initiative aims to create a more inclusive and resilient economy. This aligns with President Museveni’s vision of transforming Uganda into a prosperous and sustainable nation.

The meeting between President Museveni and the EcoNetix delegation marks a pivotal moment in Uganda’s journey toward sustainable development. By unlocking the country’s carbon removal potential, the partnership has the potential to generate significant economic and environmental benefits, while positioning Uganda as a leader in the global carbon market. As the initiative takes shape, it promises to create new opportunities for local communities, strengthen international partnerships, and contribute to the global fight against climate change. With its rich natural resources and commitment to sustainability, Uganda is poised to become a model for green economic growth in Africa and beyond.