Registering a company in Uganda

Uganda has a market-based economy and is generally regarded as one of the fastest growing economies in East Africa, this may be partly due to its young population. Annual growth of 3% while nearly half of the population is under 15 years of age.  With the most extensive and dynamic industrial base in East Africa. Uganda has been successful in attracting venture capital investments. In fact, in 2021 a very notable search engine (hey, we won’t name names) launched a $50 million “African investment fund” to target early-stage startups. Their first point of contact is the Ugandan startup SafeBoda.

More and more foreign companies and investors are setting up local and regional operations to take advantage of Uganda’s strategic location, comprehensive air routes, and status as a fast-growing consumer market. Our major exports to Uganda include iron and steel products, rubber and rubber products, machinery and electrical appliances. Our imports from Uganda include oilseeds and fruits, textile fibers, tobacco and tobacco products. Since 2011, Uganda’s Ministry of Investment has listed the meat sector, pharmaceutical sector, cement, cotton mills, station and energy sector, fruit and vegetable sector, agriculture and livestock sector as sectors have listed where Turkish investors are expected to participate. Fishing Although Uganda is landlocked, it is rich in fresh water resources. Half of Lake Victoria, the second largest lake in the world, lies within Uganda’s borders.

60 small lakes and many rivers are also located within the borders of Uganda. About 800,000 people live directly or indirectly with fishing. Fish is one of the most important domestic consumption items because it is the main source of food for 17 million people. It is possible to establish fish farms in Uganda’s vast fresh water resources and sell the fish raised here to domestic and foreign markets. Horticulture; Uganda’s horticulture industry was established only 15 years ago, but has now reached a trade volume of $30 million with an annual growth rate of 14%. In 2006, 6,500 tons of cut flowers were exported to foreign countries, the European market being the main one. The total investment in the horticulture sector reached 60 million dollars. Cultivation of fruits and vegetables Fruits and vegetables are cultivated on less than one hundredth of the 19 million hectares of land suitable for agriculture. However, exports to Western European and American markets are increasing rapidly. Thanks to the fertile land, sufficient rainfall and mild climate, it is possible to grow all kinds of (non-tropical) fruits. The conditions of the country are very suitable for the production of organic fruits and vegetables and the export of these products to advanced countries such as Western Europe and America. Forestry and wood products, especially the western part of the country is rich in tropical forests. Although the forests are small compared to the total area of the country, the productivity is very high (16 tons per hectare per year).

The country’s forests can be used to make quality furniture, produce palm oil, make lumber, candles, and packaging materials. Uganda’s energy sector has great potential in terms of hydropower and other renewable energy investments with abundant water resources (rivers and lakes). And the Ugandan state provides incentives for reliable and sufficient energy supply to cover the country’s growing energy demand. Mining sector; in the 50s and 60s, the mining sector covered 30% of the country’s exports. In 1986 and after, private sector companies were granted prospecting and mining licenses after creating a favorable business and investment environment, although still not enough. The mining sector has reached an annual growth rate of 11% which limestone and lime used in the production of cement are consumed in the domestic market. Gravel, stone chips, gold mines, tin and tungsten are the most exported. On the other hand, there is a possibility that mineral deposits such as platinum, nickel and diamond deposits mined in neighboring countries with similar geological properties are also found in Uganda. And these mineral reserves are waiting to be discovered and extracted. Large oil reserves have been found in the west of the country.