KAMPALA.
The Prime Minister of Uganda, Rt. Hon. Robinah Nabbanja and the Head of State House Investors Protection Unit (SHIPU), Col. Edith Nakalema have held a high-level meeting with a delegation of foreign investors.
The meetings held at SHIPU offices and subsequently at the Office of the Prime Minister in Kampala on Friday , mainly focused on exploring avenues for trade and investment between Uganda and the respective investors.
The delegation from USA and India comprised representatives from a diverse range of sectors such as agriculture, technology, housing and finance.
On behalf of the President of Uganda, the Prime Minister welcomed the investors to Uganda and revealed to them that by investing in Uganda they would have made a right choice.
“Uganda is gifted by nature and peaceful and that makes us a very favourable country for investment,” she said
“An agency in Dubai said Uganda is the most favorable investment destination.”
The Prime Minister further explained that the government of Uganda has put in place several favorable conditions to attract investors.
She pointed out incentives like the 10year tax holiday, and the tax-free importation of value addition machinery as long as they are going to be used in local factories as well as repatriation of profits.
“We also have a young population and energetic labour force. The government has put up favorable conditions that enable you to invest here,” she said.
“Africa has 1.5 billion people, you can add value to our coffee as well and sell it within Africa. We have a ready market.”
Additionally, Rt. Hon. Nabbanja tipped the investors that they can also invest in Uganda’s tourism sector, urging that the country is the best tourism destination.
“We are gifted by nature. We have the best weather in the world. You can also invest in other areas like IT. We are going digital, we now produce cars, we are also into pharmaceuticals,” she said.
“You are coming into an economy that is moving. Uganda is number seven among the fastest growing economies.”
She told them that Uganda also has improved infrastructure like roads, electricity, an aspect that contributes to low cost of doing business.
The Prime Minister also directed the Uganda Investment Authority (UIA) to facilitate the investors with all the processes so that they can come and settle within three months.
Col. Nakalema thanked the investors for taking interest in exploring how SHIPU can support their decisions to invest in Uganda.
She informed them that H.E the President established SHIPU in 2023 with an aim of addressing the concerns of investors and its core mandate is derived from Article 99 (4) of the Constitution of the Republic of Uganda, which empowers the President to delegate some tasks to officers subordinate to him.
“The role of this unit is to coordinate with Ministries, Departments and Agencies ((MDAs) to ensure that investors’ concerns are resolved without unnecessary delays which frustrate wealth creators,” she said.
Col. Nakalema also underscored the role of investment in sustainable development.
“Conversations with prospective investors such as this one are significant for the growth of Uganda’s economy.
As you already know, the thrust for Uganda’s socio-economic transformation relies on boosting investment, both foreign and domestic,” she explained.
On the other hand, Col. Nakalema noted that through private sector led investment, Uganda envisions enhancing productivity of a diversified economy, increased Gross Domestic Product and raised revenue and tax bases.
“That being the case, unless we mobilise the pool of existing capital and expertise and deploy them strategically on scale can we make strides towards sustainable development,” she said.
“Our meeting this afternoon therefore underscores the role of protecting sustainable investments in Uganda. This discussion certainly accords us the opportunity to explore what we can achieve through strategic partnerships with investors like you in pursuit of sustainable development.”
Col. Nakalema also assured the investors of government protection, citing the Electronic Investors Protection Portal, an online platform managed by SHIPU which provides guidance to authentic information as far as investment is concerned, mechanism for reporting, providing feedback and enforcement, thus protecting investors from falling in the hands of wrong elements.
“We will protect every investment you bring here so that you have the best rewards from your investments.”
Dr. J. A. Chowdary, the chairman of the Blockchain Committee, Bureau of Indian Standards, Government
of India and head of the delegation, revealed that he has a very big network across the world and he was willing to bring several investors to Uganda.
He also committed that they will help Uganda with an IT powered Traffic Management System customised to the Ugandan setting to solve the road traffic challenge in the country.
The solution will be pro-bono to the government of Uganda.
“We want to help your country to increase economic activity and tax collection. We shall create employment opportunities for the youth in Uganda. Most of them are good English speakers so we have opportunities for them.
Job creation is the most important aspect of any country,” said Dr. Chowdary, who is also the Co-Founder of Portal Player which designed the core chip and software that powered Apple’s iPods, later acquired by Nvidia Corporation, for USD 370 million.
He also pledged together with his team to bring a Global AI Conference into Uganda in 2026. This conference will consist of 300 of the globe’s leading AI industry leaders.
Mr. Sri Atluri, the President and CEO, Quality Engineering Foundation, USA and Commissioner at the New Jersey-India Commission, USA, said, “We are so excited to work with you for Uganda’s economic development.”
Dr. Siva Mahesh Tangutooru, the co-founder and Director, IndBhoomi Agro Products, Africa thanked the government of Uganda under the able leadership of President Museveni for creating a conducive environment that enables different investments to thrive in Uganda.
He said as investors they are looking forward to investing in Uganda and that they are planning to invest over USD 200 million in the next couple of years.
“We want to create employment opportunities for Ugandans,” he said.
Mr Ravi Daparthi, the Co-Founder and Global CTO, Signitives, USA said they generally deal in ICT and expressed readiness to work with the government of Uganda to invest in state of the art E-Systems for effective service delivery.
Mr. Krishan Charan Singh, the founder and CEO of an essential oils processing plant in Uganda, said his firm is commercially cultivating lemon grass on 1,000 acres of land for the essential oils processing plant.
The meeting was also attended by former Attorney General, Hon. Fred Ruhindi, former Ethics and Integrity Minister and Bufumbira East MP, Hon. Dr. Nsaba Buturo, Mr. Daniel Nsaba Buturo, founder of Gateway Uganda Limited which provides business services to investors, as well as officials from Uganda Investment Authority, URSB and NITA-U.