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BRICS-AfCFTA Integration to Boost Investment, Job Creation in Africa: Ugandan Finance State Minister
BRICS-AfCFTA Integration to Boost Investment, Job Creation in Africa: Ugandan Finance State Minister
Sputnik Africa
The 57th session of the Economic Commission for Africa, along with the Conference of Ministers (COM2025), is being held from March 12 to 18 in Addis Ababa... 18.03.2025, Sputnik Africa
2025-03-18T12:58+0100
2025-03-18T12:58+0100
2025-03-19T16:14+0100
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The growing cooperation between BRICS and the African Continental Free Trade Area (AfCFTA) is set to enhance economic integration and attract investment, Uganda’s Minister of State for Finance, Planning, and Economic Development Amos Lugoloobi told Sputnik Africa.Speaking on the sidelines of the COM2025, he emphasized that deeper integration expands market opportunities, drawing foreign direct investment and private capital to the continent.He pointed to China’s economic rise as an example of how a large market can drive investor interest and industrial growth.With Ethiopia, Egypt, and South Africa joining BRICS as full members and Uganda securing partner status, Lugoloobi believes the collaboration will help African nations secure much-needed capital.
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foreign direct investment (fdi), africa, brics, african continental free trade area (afcfta), brics expansion, uganda, east africa, conference, investment, economy, finance, work, employment, russia-africa cooperation, ethiopia
foreign direct investment (fdi), africa, brics, african continental free trade area (afcfta), brics expansion, uganda, east africa, conference, investment, economy, finance, work, employment, russia-africa cooperation, ethiopia
BRICS-AfCFTA Integration to Boost Investment, Job Creation in Africa: Ugandan Finance State Minister
12:58 18.03.2025 (Updated: 16:14 19.03.2025) Christina Glazkova
Writer / Editor
The 57th session of the Economic Commission for Africa, along with the Conference of Ministers (COM2025), is being held from March 12 to 18 in Addis Ababa, Ethiopia. The focus is on promoting the African Continental Free Trade Area while also discussing digitalization, technological advancements, food security, and energy transformation.
The growing cooperation between BRICS and the African Continental Free Trade Area
(AfCFTA) is set to enhance economic integration and attract investment, Uganda’s Minister of State for Finance, Planning, and Economic Development
Amos Lugoloobi told
Sputnik Africa.
Speaking on the sidelines of the COM2025, he emphasized that deeper integration expands market opportunities, drawing foreign
direct investment and private capital to the continent.
“When you integrate, you broaden the market. Therefore, it means that you are going to attract more and more investment, more inward and foreign direct investment getting into your territory, being attracted by the market akin to what we saw in China,” Lugoloobi explained.
He pointed to China’s economic rise as an example of how a large market can drive investor interest and industrial growth.
With Ethiopia, Egypt, and South Africa joining BRICS as full members and Uganda
securing partner status, Lugoloobi believes the collaboration will help African nations secure much-needed capital.
"They will attract capital from non-member countries to come into the territory to produce and market within that region, and by doing so, they are creating jobs, and they are stimulating growth in that particular territory," he concluded.
