Uganda’s ICT sector is one of the most vibrant and fast-growing sectors in the economy, offering many opportunities. Growth in this sector is supported by solid legal and regulatory frameworks.
There are currently three major investment opportunities in Information Communication Technology (ICT) according to Uganda Investment Authority (UIA). The projects are scattered across the Central region. Together the opportunities to invest amount to $491 million ( about Shs1 trillion).
Ranking investment opportunities in ICT in Uganda/Pixabay
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It is fueled by three marine fibre optic cables off Africa’s east coast in the Indian Ocean. The newly developed and quantitative ICT infrastructure is ready to accommodate new investments. Uganda is positioning itself as a hub for business processing and management outsourcing in East Africa.
"The main opportunities for business process outsourcing and ICT services exist in agriculture, health, tourism, banks, insurance and public administration," says UIA.
Here are three potent investment opportunities in ICT currently.
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1. IT/BPO Park
The project is looking at a US$428,00,000 investment. It is located in Entebbe on 17 acres of land. The land is expected to turn into an Information Technology (IT) – Business Process Outsourcing (BPO) Park that will act as a catalyst of change in Uganda from raw material-based exports to a knowledge-based economy.
2. Science, Technology and Innovation (STI) Park
The project is looking at a US$59,000,000 investment to set up a place for innovators, academia, and international and domestic entrepreneurs to interact.
Ranking investment opportunities in ICT in Uganda/Pexels
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It is located 20km from City Centre and will comprise centres for science technology and innovation, centres for academic excellence in STI, centres for the industrial commercial rollout of indigenous innovations, a business centre, and residential neighbourhoods. It is estimated to cost US $ 1.5 billion and shall be implemented in five phases within 15 years.
3. Micropay (U) LTD
This project is looking at a US$4,000,000 investment in Kamwokya, Kampala. It is an independent e-payment platform, meaning it does not operate under any telecommunication network. However, clients may send or receive money and carry out financial transactions such as buying airtime for all telecoms or paying utility bills like power, water and pay TV using a smartphone app or unstructured supplementary service data for non-smartphone users.
