FAMReports News Desk | December 2025
Uganda’s business community has formally endorsed President Yoweri Kaguta Museveni for a seventh consecutive term following strong expressions of support at the Kampala Business Forum 2025, underscoring the growing intersection between economic interests and electoral politics ahead of the 2026 general elections.
The endorsement was made during a high level gathering of business executives, entrepreneurs, and policymakers convened under the Presidential CEO Forum at the Serena Conference Centre in Kampala. Businessmen and women credited the growth of their enterprises to decades of peace and macroeconomic stability under Museveni’s leadership, arguing that continuity remains critical for sustaining private sector expansion.
Museveni Pledges Infrastructure Investment Using Oil Revenues
Responding to the endorsement, Museveni pledged increased investment in infrastructure aimed at lowering the cost of doing business, with a particular focus on utilising revenues from Uganda’s oil and gas sector, which is expected to enter commercial production in 2026.
“The Ugandan middle class runs the engines of the economy through agribusiness, manufacturing, and other services,” Museveni said while addressing executives and chief executive officers at the forum.
He argued that sustained public investment in roads, energy, industrial parks, and logistics would further unlock private sector growth and strengthen Uganda’s competitiveness.
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The President framed the endorsement as validation of Point Five of his Ten Point Programme, which prioritises state support for wealth creators and enterprise development.
Business Leaders Cite Stability and Enterprise Growth
Several business leaders used the platform to recount the transformation of their companies, citing an increase in factories, regional exports, and new investments over the past two decades. Many attributed these gains to stability, predictable policy direction, and infrastructure development.
Based on these testimonies, participants at the forum unanimously resolved to support Museveni’s re election bid, positioning the endorsement as an economic rather than ideological choice.
The forum reinforced the growing influence of the middle class in Uganda’s political economy, particularly entrepreneurs operating in manufacturing, agribusiness, construction, and services.
Trader Leadership Divisions Surface
Despite the show of unity among corporate leaders, sharp divisions emerged within Kampala’s trader associations. The absence of the top leadership of the Kampala City Traders Association (KACITA) signaled underlying tensions, as rival factions competed for visibility and presidential attention.
John Kabanda, President of the Federation of Uganda Traders Association, directly appealed to Museveni, citing unresolved grievances following repeated flooding in Kampala’s central business district.
“Mr President, we humbly request that you give us a date to meet as traders. Since the flooding in Kampala, we have had grievances but have never had a chance to discuss them with you,” Kabanda said.
Museveni granted the request, instructing his team to schedule a one hour meeting with traders at Kisozi. In the same breath, he criticised KACITA, describing it as a comprador bourgeoisie, a remark that highlighted deep seated fractures within the trader community.
Public Private Partnerships and Economic Vision
Beyond the endorsement politics, the forum also served as a platform for reflection on Uganda’s economic trajectory. Participants emphasised the importance of public private partnerships in driving infrastructure development, industrialisation, and service delivery.
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One participant, entrepreneur Mawejje Wasswa Ronald Birungi Britah, described the forum as a critical national dialogue bringing together public and private sector leaders to assess Uganda’s economic future. He noted that Museveni’s reflections on his four decades in leadership revealed a business oriented mindset focused on long term planning, stability, and enabling enterprise.
According to participants, the emphasis on collaboration between government and private sector resonated strongly with innovators and social entrepreneurs working at the intersection of sustainability, industry, and community impact.
Political Implications Ahead of 2026
The endorsement of Museveni by sections of Uganda’s middle class adds a new layer to the political landscape ahead of the 2026 elections. Analysts note that while such backing does not automatically translate into electoral victory, it signals where economic confidence currently lies.
The visible divisions among trader groups, however, suggest that economic endorsement is not monolithic. Urban traders facing infrastructure challenges, flooding, and regulatory pressures may yet test the durability of this support.
As Uganda approaches another election cycle, the Kampala Business Forum 2025 has laid bare a central question shaping the country’s politics. Whether economic stability and continuity will outweigh demands for political transition remains to be seen.
What is clear is that business interests have firmly entered the electoral conversation.
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