KAMPALA– The Minister of State in charge of Investment and Privatization Hon Evelyn Anite has made it categorically clear that Uganda is seeing an interesting trend in business sector growth as Ugandans are transitioning from small trading to real estate by joining big-time industrialists.    

Minster Anite made the remarks on Tuesday May 14th 2024, while speaking at the launch of Uganda Investment Authority Domestic Investment Division where encouraged local domestic investors to access cheap financing by Uganda Development Bank where is small business Recovery Fund and in Bank of Uganda where there is Agricultural Credit Facility.

The Minister said that the launch of Domestic Investment Division at Uganda Investment Authority will contribute to Uganda’s US 500 billion dollars GDP target at the end of the National Development Plan (NDP) IV where they also target foreign direct investments.

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While speaking at the launch that took place at Uganda Investment Authority Audtorium, Minister Anite noted that Uganda local investors constitute 70% of the total registered investors in the country especially those who operate in Kampala Business Industrial Park in Namanve which is Uganda’s flagship industrial park. 

The Minister emphasized that its Ugandans that will develop the country especially through industrialisation and therefore its the role of Uganda Investment Authority (UIA) to support that process by creating an enabling investment environment and that is why the Domestic Investment Division was being launched. 

The Chairman of the Board of Directors of Uganda Investment Authority Morrison Rwakakamba who attended the event, said that Uganda is witnessing an interesting trend in the business sector growth with some local investors like Mariana, Ntake and Bella taking up the lead.                                           

Earlier, the Uganda Investment Authority Director General Robert Mukiza asked the investors to make use of the recently established One-Stop-Center to ease their operations because the Center is a hands on process and takes prospective investors through key investment and business services that concentrate on wealth creation.                                                 

Mukiza said that the Domestic Investment Division creates a pool of profiled investors in various sectors who can be matched with international counterparts, financiers and business support services.

He made it categorically clear that the Domestic Investment Division is to serve domestic investors and ensure that they graduate into successful investors capable of adding value to law materials, creating jobs and contributing to economic development of the country.  

The Acting Director of Domestic Investment Division Richard Nuwenyesiga said that the Division will promote an enabling environment for domestic investors especially Small Medium Enterprises and ensure collaboration between investment and business support agencies to increase 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 small medium enterprises competitiveness.