Uganda Investment Authority launches division to boost domestic investments

This new division is part of UIA's strategic initiative to support local businesses and entrepreneurs, enhancing Uganda's industrial and economic landscape.

Spearheaded by the State Minister of Finance, Evelyn Anite, the launch event highlighted the pivotal role of the DID in reaching Uganda's ambitious goals outlined in the forthcoming National Development Plan IV, which anticipates an economic boom to $500 billion by 2026.

Minister Anite emphasized the critical position of domestic investors in this journey, underlining their importance in driving Uganda’s industrialization and economic expansion.

The Domestic Investment Division seeks to nurture an enabling environment for small and medium-sized enterprises (SMEs) by facilitating access to affordable financing options available through government and development partners.

The launch event highlighted the pivotal role of the DID in reaching Uganda's ambitious goals outlined in the forthcoming National Development Plan IV Pulse Live Uganda

Notable initiatives include the Uganda Development Bank, Bank of Uganda’s Agricultural Credit Facility, and Small Business Recovery Fund, as well as World Bank-funded projects like INVITE and GROW, aimed at fostering industrial transformation and productivity.

Morrison Rwakakamba, the chairman of the Board of Uganda Investment Authority, remarked on a significant shift in Uganda’s business dynamics, with local billionaires moving from trading to substantial industrial ventures, exemplified by major factories in Namanve Industrial Park.

Robert Mukiza, the director general of the authority, encouraged investors to utilise the Uganda Investment Authority's one-stop center for investors, designed to streamline investment processes and assist in value addition, job creation, and economic development.

The newly appointed acting Director of the DID, Richard Nuwenyesiga, noted that the division will also focus on building a network of domestic investors, enhancing their profiles for better alignment with international stakeholders and financial resources, thus doubling domestic investment value by the end of 2025.

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