Uganda

Rhadz Tax, Accounting & Finance Consult Ltd, Uganda – Global Accounting Alliance Member

Economic Overview and Business Opportunities in Uganda

A business that succeeds overseas is a business that is prepared. When setting up a business in Uganda, the economic overview and business opportunities is something you need to be aware of.

If you’re planning to start a business in Uganda, then read on. Find out why this strategically located republic is one of the best business investment locations for you.

 

Economic Overview in Uganda

Next year is as good a time as any to start looking at spreading your business wings abroad. Especially when Uganda’s economy is expected to bounce back strong in its Financial Year 2022/23. With a lot of economics around the world beginning to open up again, Uganda is poised for a strong recovery.

As a fully liberalised economy, there are no restrictions on any industry when it comes to foreign direct investment. This is good news for investors, because it means you are free to invest in any industry that captures your interest. With a favourable policy on your side, entry into the market becomes easy.

Another factor that contributes to Uganda’s strong economy is its stable regulatory environment. As a business owner, this is something you want in the country you’re investing in. Its rich natural resources are another factor that contributes to its dynamic economy and appeals to foreign investors.

It also helps the economy a great deal when the Ugandan Government is a strong supporter of both local and foreign investment. Every effort has been made by the Government over the last few years to improve the country’s economic climate.

In Uganda, approximately 80% of its economy is based on imports. Especially from other African countries. However, being a country that is rich in natural resources, Uganda does dabble in exports too. Exports are mainly steel and rubber products, and also devices and electrical machinery.

 

Business Opportunities in Uganda

Being strategically located as its perks, as Uganda proved. Because of its location, Uganda is the ideal spot for your next business opportunity. Especially when it’s known as the regional trade and investment hub of Sub-Saharan Africa.

Potential investors can consider taking advantage of the Government’s generous Fiscal Incentive Package. This package offers investors with a very generous capital, especially those who intend to invest in Uganda on the medium and long term scale. 3E Accounting can walk you through what the requirements are.

Some sectors that you can consider investing in include the following:

• Tourism
• Energy and electronics
• Mineral and agriculture value addition
• Edible oils
• Infrastructure
• Pharmaceuticals
• ICT (Information and Communications Technology)

 

Ready to Invest?

Investing and starting a business abroad doesn’t have to be a complicated process. Not when the experts are helping you maneuver through. If you’re ready to begin your next business venture, we’re ready to help.

For more information about setting up a business in Uganda and our 3E Accounting Incorporation Packages, get in touch with the team today.

Ramadhan Al-hudir
Director Operations

Muwonge Dauda
Director Finance

Hakimu Buyondo
Executive Director

Nakazibwe Zainab Muhammad
Administrative Director