BiHub: Why Uganda?
Country Profile
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AUS & UGA
Delve into the bilateral trade relationship, and see how it could assist you
Doing Business in UGA
Finish your research by understanding local practicalities here.
ABOUT UGANDA:
Uganda has sustained significant economic growth and development for its majority rural population since the 1990’s. Uganda is endowed with rich natural resources, including fertile land, plentiful rainfall, and mineral deposits including cobalt, gold, and copper. While agriculture is Uganda’s primary sector, the country has experienced moderate economic diversification with other forms of employment in industry, manufacturing, services, and tourism having tremendous impacts on Uganda’s economic growth. The Ugandan Government seeks to transform Uganda into an upper-middle-income country by 2040, with investment in industry and infrastructure playing a key role in achieving this objective. Uganda’s youthful, educated, and growing population is predicted to exceed 100 million by 2050, illustrating significant market potential for future investment and trade.
Capital: Kampala
Currency: Ugandan shilling (USh)
Population: 44 million (2020 est.)
Population Growth: 3.3% (2020 est.)
Language: English (official), Swahili (official), Luganda (widely spoken).
Government Type: Presidential republic
Economic Overview: Before the impacts of COVID-19, Uganda’s GDP grew by 7.5% in 2019 and saw significant growth in decades prior, making Uganda a positive example of development within East Africa. Agriculture accounts for Uganda’s largest export earnings and GDP, as well as the main source of employment for 80% of Uganda’s labour force. Coffee is Uganda’s main export along with cotton, tea, gold and tobacco. The return to normalised global trade and supply chains is predicted to boost Uganda’s exports and generate a boost for Uganda’s manufacturing, construction and retail sectors. Despite the covid-19 pandemic, Uganda’s economy has remained robust amid the need for external finance to boost investment in key sectors to develop infrastructure such as transport and energy to spur development.
Access and Logistics: Uganda is a landlocked country in east-central Africa bordered by the Democratic Republic of Congo, Tanzania, Rwanda, Kenya, South Sudan and Lake Victoria of which Uganda occupies 45%. Transport Infrastructure is a main development priority of the Ugandan Government which is investing heavily in air, railway, road and inland water transport. Entebbe International Airport is the main passenger and cargo gateway to Uganda.
Uganda’s Investment Opportunities
Uganda’s investment climate presents a wide range of opportunities for foreign investors. With a market economy, ideal climate, ample arable land, a significant and educated youthful population, and at least 1.4 billion barrels of recoverable oil, Uganda offers numerous opportunities for investors.
Prospective investors are encouraged to visit the websites of Uganda’s relevant investment authorities.
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There are significant investment opportunities within Uganda’s agribusiness sector through commercial farming, value addition, manufacture of inputs, and supply of agriculture machinery.
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With 1.4 billion recoverable barrels of oil, the legal, policy and institutional framework for the Uganda’s oil and gas sector has been put in place to ensure effective management of the resources towards promoting development of the industry to spur the country’s development.
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Uganda has adopted a policy to embrace ICT in all aspects of government and the private sector. The country is also mainstreaming ICT in its education structures to generate a vibrant educated ICT compliant population. This provides demand for ICT infrastructure relevant to Telecommunication, ICT-Enabled Services such as Data Processing, Software Development and Software Exports. Specific areas of investment include; assembling of local ICT Equipment, ICT Tele-centres and Internet Cafés, ICT Training Facilities, establishment of Film production centres (e.g Graphic Animation), Information hubs and websites to facilitate emails and ecommerce.
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In light of Uganda’s big tourism potential, the country offers investment opportunities including in accommodation/conferences, tour operations, water sports and related activities such as Gorilla tracking in various places in the western part and waterfalls in the eastern part of the country.
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Opportunities in the services sector include; Education (Vocational training, tertiary, secondary), Health (Specialised facilities, hospitals) and Financial intermediaries.
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Uganda offers a variety of opportunities for investment in the industry as well as exploration and extraction of a wide range of minerals that include; Copper-cobalt, Limestone, Phosphates, Nickel, Iron-ore, Gold, Tin, Kaolin, Gypsum, Tungsten, Vermiculite, Salts, sand/glass sand, Beryllium, Columbite/tantalite and Chromite, among other varieties.
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Uganda’s high energy demand is spurred by the three fastest growing sectors of the Uganda economy; agriculture, industry and services. This demand therefore provides huge investment opportunities in the energy sector, especially renewable energy to replace fossil fuels. Available investment opportunities aim to improve energy efficiency through better transmission practises and use of more efficient appliances.
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Investment opportunities in the transport sector include; Improved public transport, urban planning & traffic management, improve vehicle efficiency, Vehicle fuel switching and switching from road to rail transport.
Embassy Contact Details:
HIGH COMMISSION OF THE REPUBLIC OF UGANDA
Telephone: +61 02 6286 1234
Email: ugandahc@velocitynet.com.au
CONSULATE OF UGANDA (PERTH)
Telephone: (+61) 8 9200 4404
Email: perth.hc.uganda@gmail.com
CONSULATE OF UGANDA (SYDNEY)
Telephone: (+61) 02 9265 3061
Email: cox@eakin.com.au
The Australian High Commission in Kenya is accredited to Uganda.
AUSTRALIAN HIGH COMMISSION IN KENYA:
Telephone: +27 12 423 6000
Email: Consular.Nairobi@dfat.gov.au
AUSTRALIAN CONSULATE IN KAMPALA, UGANDA
(Honorary Consul) - Patrick Bitature
Telephone: +256 393 515 865