Foreign investors are targeting the purchase of 2,000 Ankole cows as part of upcoming multibillion-shilling trade deals set to be finalised during the Nigeria-Uganda Business Forum and Exhibition 2026, scheduled to take place in Kampala on September 9 and 10.
The two-day forum aims to bolster bilateral cooperation between Kampala and Abuja, with about six Memoranda of Understanding currently being finalized ahead of the arrival of Nigerian corporate delegations.
Speaking on Thursday, Dr Sam Omara, the Officer in-Charge of Economic and Commercial Diplomacy at Uganda’s High Commission in Abuja, revealed that a selection of the 23 participating Nigerian companies has expressed intent to acquire 2,000 one-year-old female Ankole cattle. Unlike traditional breeding ventures, the acquisition is focused on harvesting veal, leveraging the unique market appeal of the breed’s meat.
Ankole cattle, recognized for their iconic horns stretching up to three meters, hold deep cultural significance among the Banyankole and Bahima communities and are predominantly farmed across Mbarara, Kiruhura, Isingiro, Lyantonde, and the surrounding Lake Mburo National Park ecosystem.
Dr Omara noted that Ugandan diplomats successfully pitched the unique health attributes of the breed to prospective buyers, emphasizing that Ankole beef contains low cholesterol levels compared to standard livestock options. Medical literature generally cautions against high cholesterol intake from animal products due to its link with cardiovascular complications, making leaner meat options highly sought after in foreign consumer markets.
While market rates for fully-grown Ankole cattle average around Shs3.5 million based on age, weight, and local conditions, the projected valuation places the prospective 2,000-head purchase at approximately Shs7 billion.
Beyond agricultural livestock, Dr Omara disclosed that participating firms have submitted formal letters of intent across manufacturing and infrastructure sectors. Among the notable proposals is a $3 billion public-private partnership for a cement factory alongside an $800 million investment aimed at constructing a fertilizer production plant. Additional Nigerian ventures are eyeing opportunities spanning oil and gas, financial services, media, real estate, pharmaceuticals, transport, and solar irrigation systems.
Commercial air connectivity between both nations has significantly enabled these emerging trade corridors. Uganda Airlines currently operates three direct routes to Lagos, serving as a primary conduit for high-value cargo even during periods of fluctuating passenger volume.
According to diplomatic trade metrics, the national carrier’s transport services have generated $3.5 million over recent months. Concurrently, export flows to Nigeria have seen tobacco top the figures at $17 million, followed by hides and skins at $2.7 million, coffee at $1.8 million, glass products at $1.76 million, and fish exports at $1.7 million. Additional steady exports include palm oil, gold, and powdered milk.
Organizers anticipate that the upcoming business forum will provide a structured framework to secure long-term investments in agro-processing, soluble coffee production, textile manufacturing, and dairy value addition.
Commenting on the commercial prospects, Mr Stephen Asiimwe, Chief Executive Officer of the Private Sector Foundation Uganda, highlighted the strategic advantage of navigating the Nigerian market, citing a shared official language and an expansive market of over 200 million consumers. He noted that key urban centers like Lagos offer concentrated consumer bases larger than many entire national markets.
Ambassador Richard Kabonero, Head of the Economic and Commercial Diplomacy hub at Uganda’s Ministry of Foreign Affairs, added that the initiative reflects ongoing diplomatic efforts to assist Uganda’s private sector in expanding its footprint across high-capacity continental markets.
