An increasing number of foreign investors see Uganda as a place of opportunity within East Africa. It was ranked the eighth free-est economy of the sub-Saharan African countries in the 2013 Index of Economic Freedom - and the outlook for the economy in years to come is extremely positive. Uganda offers strong incentives to encourage foreign private investment, including 100% ownership of equity for several services. Retailers and manufacturers are in high demand, with specialised machinery and pharmaceutical products being popular imports. Consumer goods are also key business opportunities as recent economic developments have given Uganda’s population more disposable income.
Uganda’s land area of over 235,000 square kilometres is home to 36 million people - 70% of whom contribute to the labour force. Domestic demand of imported services has given rise to an increase in FDI - with the services sector alone contributing to 52% of Uganda’s GDP. The growth of the services sector is largely a result of expanding retail and leisure industries, such as restaurants and hotels, and construction is growing at an annual rate of over 10%.
Infrastructure in Uganda is in a developmental stage. Urbanisation has been given a priority under national policy - thereby providing an opportunity for commercial real estate investment. Demand is high for residential developments and the leisure industry has room for further expansion in line with the tourism sector. In addition, Uganda is being encouraged to invest more in agricultural processing plants. An oil refinery is scheduled to be completed by 2020. The new crude oil pipeline from Hoima to Tanga port in Tanzania is likely to see numerous opportunities crystallised over the coming 5-10 years.
"Uganda is an immature market for Sunbird and we are actively seeking new projects to increase our footprint" - Michael Aldridge (CEO)
ESBC Rwenzori Towers - ESBC office at the prestigious Rwenzori Towers on Nakasaro Hill offersthe most effectie, flexible and competent solution to your office requirements. Its situated outside Kampala's Central Business District in one of the city's ultra-modern building complexes providing easy access to private and public transport and avoiding the traffic congestion in town.
Sunbird is currently providing premium serviced offices in Kampala through our local operating company, ESBC, which has a reputation for quality and service, and has additional sites in Nairobi and Dar es Salaam, with many more in the pipeline over the next two years. The Company is working with regional and international businesses to establish their service requirements both in Uganda, and across Eastern and Southern Africa.