The President of the Republic of Uganda, H.E. Yoweri Kaguta Museveni once said: “If Africans want prosperity, they must know that it comes from producing goods or services and selling them.”
Over the past decade, Uganda has made significant strides in attracting and retaining both domestic and foreign investments. Central to this transformation is the Government of Uganda through it’s primary investment promotion agency; the Uganda Investment Authority (UIA). Through strategic reforms, infrastructural development, and digitisation of services, the government through UIA has created a more business-friendly environment that encourages economic growth and job creation. The government’s efforts have not only streamlined processes but also led to impressive statistical milestones that affirm Uganda’s rising profile as a competitive investment destination in East Africa, Africa, and the world.
One of most impactful reforms is the establishment of a One-Stop Centre for Investors. This centralised hub brings together 13 government and private sector agencies, allowing investors to access essential services such as investment licensing, company registration, tax identification numbers, and work permits in one place. Notably, the automation of these services has drastically reduced processing times; investment licenses are now issued within 24 hours, company registration is completed within four hours, and TIN issuance takes just four hours.
Recognising the importance of local investors, the government launched the Domestic Investment Division (DID) in 2024. This division focuses on facilitating Ugandan investors by providing access to financing, grants, and industrial park land. Additionally, UIA has partnered with institutions like the Uganda Development Bank, Uganda Development Cooperation, and Bank of Uganda to offer affordable financing options through programmes such as the Agricultural Credit Facility and Small Business Recovery Fund.
Local investors enjoy more favourable incentives under the Uganda Investment Authority framework. While foreign investors are required to invest a minimum of $250,000 to qualify for a UIA investment license, local investors need only $50,000, five times less, making it significantly easier for them to access investment opportunities and government support. UIA also provides free costed investment opportunities to help local investors make informed investment decisions. The National SME portal has been a game changer in promoting business linkages, compliance and visibility, while providing access to critical business resources 24 hours a day, 7 days a week.
The government’s commitment to industrialisation is evident in its development of industrial parks across the country. By the end of the 2023/24 financial year, 625 companies had been allocated land in these parks, with 294 already operational. These parks have created over 122,000 jobs and attracted significant capital investment, totalling $3.31 billion.
UIA has also been instrumental in the development and operationalisation of the eleven industrial parks across Uganda. These parks are designed to provide serviced land and infrastructure to both local and foreign investors. Investors in these parks come from diverse nationalities: Ugandans take lead at 43.4%, Chinese at 27.5%, Indians at 14.9%, Kenyans at 2.1%, Americans at 1.4%, among others, reflecting growing international confidence in Uganda’s industrial infrastructure.
All these efforts have led to a steady increase in licensed investment projects. In the 2023/2024 financial year alone, the authority licensed 426 projects valued at approximately $2.61 billion (UGX 9.63 trillion), a 6.5%increase from the previous year. These projects are expected to generate 67,911direct jobs, up by 55.9%, with 41,920 jobs specifically earmarked for Ugandan citizens. The sector distribution of these investments shows a strong focus on value-added industries, like Manufacturing represents 62% of projects, Agriculture 12.2%. This indicates a strategic shift toward sectors that support Uganda’s industrialisation agenda.
All investment efforts have further garnered international recognition, with Uganda being named Africa’s top Foreign Direct Investment destination and the best investment promotion agency in East Africa at the AIM Awards 2023. Participation in global events like the Dubai Expo 2020 and the Uganda-Turkey Investment Summit has further enhanced Uganda’s visibility and attractiveness as an investment destination.
Through strategic planning, institutional reforms, and data-driven performance, the Uganda Investment Authority has significantly softened the investment landscape in Uganda. The agency’s initiatives have reduced administrative bottlenecks, improved infrastructure through industrial parks, and created jobs at an impressive scale. Backed by strong local and international investor confidence, UIA continues to drive Uganda’s transformation into a hub of sustainable and inclusive economic development in the region.
Ugandan investors, home-grown entrepreneurs, diaspora professionals, and local business leaders are all invited to seize the abundant investment opportunities within our borders, now is the time to invest in Uganda’s future. From agro-industrialisation, manufacturing, and ICT, to tourism and real estate, your investment will not only grow your wealth but also strengthen our economy, create jobs, and empower communities. Let us builda resilient, self-sustaining Uganda together. Be a catalyst for transformation. Invest at home. Grow with Uganda.
