A Domestic Investment Division is launched at the Uganda Investment Authority (UIA), with the aim of effectively facilitating Ugandan investors.
This development is a response to complaints that Government policy on investment caters for the large and foreign investors without putting into consideration the Ugandan Investors.
“The deal is that we give you access to money both credit and grants for your business, free land in industrial parks, and tax exemptions,” says Evelyn Anite, Minister for Finance, Planning and Economic Development in charge of investments.
She said she will ensure strict there is transparency at all levels to enable all investors get the necessary support.
The Domestic Investment Division (DID) will not only serve domestic investors but also ensure they graduate into successful investors capable of adding value, creating jobs and contributing to the economic development of Uganda.
This is will promote an enabling environment for domestic investors (SMEs) by encouraging collaboration between investors and business support agencies.
The UIA hosts about 27 investment promotion agencies at their One-Stop Investment Centre in Kololo, which makes it easy to serve current and prospective investors.
The DID will contribute significantly to Uganda’s 50 billion dollar economy by the end of National Development Plan IV that starts in 2026.
Minister Anite encouraged domestic investors to access affordable financing offered by the government, as well as development partners, like through the Uganda Development Bank, Bank of Uganda (Agricultural Credit Facility and Small Business Recovery Fund), and Parish Development Model.
Others are Investment for Industrial Transformation and Employment (INVITE) and Generating Growth Opportunities and Productivity for Women Enterprises (GROW) projects, both funded by the World Bank through the Private Sector Foundation Uganda (PSFU) and Ministry of Gender, Labour and Social Development, respectively.
The UIA says it is taking a long focus on domestic investments because that is what Uganda’s economic growth and development will sustainably depend on.
It also has online services channels that the investors can take advantage of at www.ebiz.go.ug.
Richard Nuwenyesiga, the acting Director of DID said they are currently creating a data base of profiled domestic investors in various sectors who shall be linked to international investors, capacity builders and other investment and business support services.
One of the key objectives of UIA is to increase the value of domestic investment from 24.4% to 50% by the end of 2025 by supporting initiatives like business linkages, import substitution, promoting export-oriented industries, and improving SME competitiveness, among others.