Bank of Uganda Deputy Governor Prof. Edward Nuwagaba addressed global investors at the UK-Africa Investment Summit about attracting private investment into Uganda. He promised regulatory changes, tax benefits, and environmental policies to support the country's financial modernization efforts. Uganda achieved 6.1 percent economic growth during the previous fiscal year, with the International Monetary Fund forecasting 6 to 6.5 percent expansion through 2026. Oil production, infrastructure development, and agricultural exports will drive this growth. The deputy governor acknowledged that excessive taxation and administrative burdens hinder private sector development.
Nuwagaba proposed establishing a centralized investment facility under the Uganda Investment Authority to reduce the current 24-day average permit processing time. The central bank maintains inflation at 4.8 percent, below the 5 percent target ceiling. Officials plan a gradual liberalization of capital markets to increase foreign investment flows. The government will offer incentives for renewable energy projects, sustainable agriculture, and ethical manufacturing practices. Uganda seeks transparency in government contracts while preventing monopolistic behavior across strategic industries.
Nuwagaba proposed establishing a centralized investment facility under the Uganda Investment Authority to reduce the current 24-day average permit processing time. The central bank maintains inflation at 4.8 percent, below the 5 percent target ceiling. Officials plan a gradual liberalization of capital markets to increase foreign investment flows. The government will offer incentives for renewable energy projects, sustainable agriculture, and ethical manufacturing practices. Uganda seeks transparency in government contracts while preventing monopolistic behavior across strategic industries.
