Ugandan President Yoweri Museveni has attempted to quell fears over the US decision to withdraw preferential trade access for the east African country, saying the global superpower has underestimated what the continent is capable of.

"I need to advise you not to be over-concerned by the recent actions by the American government in discouraging their companies from investing in Uganda and on removing Uganda from the Agoa [African Growth and Opportunity Act] list," the leader said on X.

"Some of these actors in the Western world overestimate themselves and underestimate the freedom fighters of Africa. On account of some of the freedom fighters making mistakes of philosophy, ideology and strategy, some of the foreign actors, erroneously think that African countries cannot move forward without their support.

"Certainly, as far as Uganda is concerned, we have the capacity to achieve our growth and transformation targets, even if some of the actors do not support us."

On 30 October, US President Joe Biden said in a letter to the speaker of the House of Representatives that he was giving notice of his intention to terminate the designations of Uganda, Niger, Gabon, and the Central African Republic as Agoa beneficiaries.

"The government of Uganda has engaged in gross violations of internationally recognised human rights," Biden said.

Uganda, and Museveni himself, have come under international condemnation for criminalising same-sex conduct through the Anti-Homosexuality Act of 2023. The law includes the death penalty for those convicted of "aggravated homosexuality".

According to data from the office of the US Trade Representative, Uganda exported $174-million worth of goods to the US in 2022, while US foreign direct investment in Uganda during the year amounted $104-million.