The Eritrean diaspora’s extraordinary $3 billion contribution to Uganda’s economy is set to be celebrated at the 2nd Eritrean Diaspora Investment Conference on December 21, 2024, at Palace Play Park in Kampala. Organized by the Office of the President in partnership with the Eritrean community in Uganda, the event will underscore the profound economic and cultural impact of Eritrean entrepreneurs.
The conference will host prominent figures, including Uganda’s Prime Minister Robinah Nabbanja and Eritrea’s Ambassador to Uganda, Mohammed Sulieman Ahmed. Senior Presidential Advisor on Diaspora Affairs, Abbey Walusimbi, emphasized that the conference, themed “Unity Through Diversity,” aims to strengthen ties between Eritrean entrepreneurs and Ugandan stakeholders while building on last year’s success.
Walusimbi lauded the Eritrean community for their impressive economic contributions. Uganda is home to over 240,000 Eritreans, with 25% being entrepreneurs and innovators. “Their remarkable integration and business acumen are essential drivers of Uganda’s progress,” Walusimbi stated. “We commend their significant $3 billion contribution and the vital role they play in our nation’s economic development.”
The conference will celebrate Eritrean businesses’ success in sectors such as trade, hospitality, and manufacturing, alongside cultural festivities. Kisanet Tedros, CEO of Beles Bubu, highlighted the event’s importance, describing it as a space for both business and community bonding. “This conference brings us together to showcase the value the Eritrean community contributes to Uganda, culturally and economically,” she said.
Eritrean investor Kidane Ghebrehawariat Habteselassie stressed the importance of collaboration between the Eritrean diaspora and Uganda’s government, commending the country’s inclusive policies. “Uganda’s stability and openness have enabled Eritrean entrepreneurs to excel,” he remarked. “This platform allows us to strengthen shared goals and foster deeper collaboration.”
While the Eritrean diaspora thrives in Uganda’s business-friendly environment, similar opportunities are scarce within Eritrea itself. Strict economic policies, conflict fueled by Ethiopian aggression, and U.S. sanctions have limited private sector growth in Eritrea and curtailed international partnerships.
In contrast, Eritreans in nations such as South Sudan and Angola have excelled in sectors like trade, construction, and transportation. These successes demonstrate the transformative impact of stable policies and inclusive environments, offering a glimpse of Eritrea’s potential under reformed conditions.
The success of Eritrean entrepreneurs abroad highlights the vast untapped potential within Eritrea. If Eritrea were to embrace reforms promoting investment and private-sector growth, the nation could drive innovation, create jobs, and transform its economy.
To achieve this, Eritrea must implement business-friendly policies, address regional tensions, and rebuild international partnerships. Emulating Uganda’s inclusive policies could position Eritrea as a competitive player in regional trade and investment.
As Uganda celebrates the Eritrean diaspora’s $3 billion contribution, it showcases what can be achieved through unity and opportunity. The success of Eritrean entrepreneurs provides a powerful model for Eritrea’s future, emphasizing the potential for innovation, resilience, and economic growth when the right conditions are fostered.
The Eritrean diaspora’s remarkable impact on Uganda is not only a story of economic achievement but also an inspiration for transformative change and partnership between communities.