At the 14th UK-Africa Annual Trade Summit in London, Uganda’s Minister of Gender, Labor, and Social Development, Hon. Betty Amongi, delivered an inspiring keynote that underscored Uganda's rapidly growing infrastructure sector. Minister Amongi outlined the country’s ambitious plans, highlighting key investment opportunities in cities, industrial parks, and innovative projects like waste-to-energy, all while emphasizing Uganda's competitive advantage—a young and skilled labor force.

A Booming Infrastructure Sector: Opportunities for Investment

Hon. Amongi emphasized the significant opportunities within Uganda’s infrastructure sector, specifically pointing to the country’s 10 emerging cities and their industrial parks. These parks have been designed to attract foreign investors, offering policies and incentives to make investment easier and more profitable. Among these incentives are tax exemptions and access to land, aimed at promoting industries that drive sustainable growth, such as waste-to-energy projects.

The Minister’s remarks also touched on Uganda’s housing market, which presents a significant investment opportunity. The country's housing deficit stands at 2.4 million units, with only 60,000 produced annually. There are urgent needs for mass affordable housing, student accommodation, and institutional housing, all of which are open to private investment.

Uganda’s Youth: A Competitive Advantage

A key highlight of Minister Amongi’s speech was Uganda's young and skilled labor force. With 80% of the population under the age of 35, Uganda offers a vast pool of talent for industries that rely on human capital. She detailed the government’s efforts to skill the youth through ICT hubs, innovation funds, and startup programs, which have positioned Uganda as an attractive destination for industries in technology, manufacturing, and industrial development.

Minister Amongi also emphasized the importance of co-investment through Uganda’s National Social Security Fund (NSSF), valued at $6 billion. This fund has diversified into real estate, bonds, securities, and startups, providing attractive co-investment opportunities for foreign investors, particularly in real estate projects. The Minister also encouraged Uganda’s diaspora to take part in voluntary savings schemes with the NSSF to co-invest in real estate back home.

Empowering Women and Youth Entrepreneurs

Minister Amongi proudly highlighted Uganda’s leadership in women’s entrepreneurship, with 44% of businesses in the country owned by women. The government’s policies strongly support women and youth entrepreneurship, offering robust environments for international investors to engage with a diverse and thriving business community.

Panel Insights: Tackling Uganda’s Infrastructure Challenges

Following Minister Amongi’s remarks, a distinguished panel of experts from Uganda and the UK shared their insights on infrastructure investment in East Africa.

• Prue Ashby (London & Partners) emphasized the need for collaboration and convergence, highlighting the potential for partnerships between UK and African companies in climate change solutions, such as hydrogen production.
• Adrian Wilson (Mowlem International) discussed the company’s focus on large-scale projects like roads and airports, stressing the importance of government collaboration in securing sustainable growth.
• Derrick Mutegyeki (NHCC) spoke about Uganda’s critical housing shortage, identifying affordable housing as a key area for investment. He encouraged private investment in student accommodation and institutional housing.
• Eng. David Luyimbazi (KCCA) outlined several key infrastructure projects in Kampala, such as road construction, drainage systems, and street lighting. He emphasized the need for public-private partnerships (PPPs), particularly in projects like bus rapid transit systems and slum redevelopment.
• Francois Pannetier (UKEF) highlighted that the UK Export Finance (UKEF) has allocated between £1-2 billion to fund projects in Uganda, provided 20% of the project content is sourced from the UK. He welcomed collaboration with both UK and non-UK contractors to take advantage of this opportunity.

Key Takeaways from the Q&A Session

The Q&A session offered further insights into Uganda’s infrastructure development, addressing critical challenges and opportunities:

• Private Sector Investment in Roads: Eng. Luyimbazi shared that Uganda is exploring road financing models, including user-pay systems similar to those in Nairobi, to support infrastructure development.
• Accessibility and Disability Access: Luyimbazi assured attendees that all new infrastructure projects will include pedestrian walkways and provisions for people with disabilities.
• Tackling Congestion: The panel discussed solutions to Kampala’s growing congestion, including the deployment of 2,000 buses and the implementation of bus rapid transit systems. Plans to digitalize the regulation of boda bodas (motorcycle taxis) were also highlighted.
• Diaspora Investment: Hon. Amongi emphasized that the Ugandan diaspora enjoys the same investment incentives as local investors, including access to free land in industrial parks and tax-free status in key sectors. She invited the diaspora to participate in co-investment schemes with the NSSF.

Uganda is Open for Business

The session closed with a clear message: Uganda is open for business, with a wealth of opportunities in infrastructure, housing, and industrial development. The panelists reinforced the idea that collaboration between governments, international investors, and the private sector will be the key to unlocking sustainable growth in Uganda and across East Africa.