Sales professionals considering relocating to Uganda will not be disappointed.
The country offers a wealth of the more ‘usual’ attractions, including terrific
business possibilities, a high quality of living and a bustling and exciting nightlife.
Equally enticing, however, are the country’s more unusual offerings – including
stupendous safaris and awe-inspiring wildlife.
Officially the Republic of Uganda, the nation is a land-locked country located in
East Africa, bordered by Kenya in the east, Sudan in the north, the Democratic Republic
of Congo in the west, Rwanda in the southwest and Tanzania in the south.
The nation, which has an area of close to 250,000 square kilometres, is strategically
positioned within East and Central Africa. The territory consists of some of Africa’s
most economically significant and resource-rich countries.
In recent years, Uganda has been transformed into a politically stable country with
a dynamic economy based on free market principles.
Located close to the centre of the extensive African Market, by many assessments,
Uganda offers the most outstanding business opportunities in Africa. One of the
fastest growing economies, the country is currently the chosen base of many leading
Global Firms and International Organisations.
Adding to the nation’s attractiveness as a business locale is that fact that it
is one of Africa’s most liberal countries for foreign investment.
Kampala
Uganda’s capital – Kampala - is a swiftly growing multinational city, with a population
of close to 1.2 million people.
The city boasts a near-perfect mixture of traditional and modern. Despite its rapid
expansion, the city has preserved its picturesque appeal, and is one of Africa’s
greenest cities. Kampala also offers an abundance of modern five-star hotels, exceptional
restaurants, casinos and a state-of-the-art communications infrastructure.
Just a few miles from Lake Victoria, the city serves as a major travel hub for the
region, and is deemed very safe.
Exact expat figures for Kampala are difficult to come by. However, the general consensus
confirms that the capital city houses a very large expat population – the vast majority
of which comprises high net worth individuals with a collectively vast disposable
income to invest.
Economy
Economic reforms and political stability are among the many contributing factors
toward making Uganda one of Africa’s fastest growing economies. Economic growth
rates have averaged 6% per annum in the past decade, and the inflation rate has
been maintained below 10% annually for the last four years.
The Government’s major role in Uganda’s private sector-driven economy has been mainly
to provide the necessary legal policy and physical infrastructure for private investment
to flourish. This strategy, endorsed by the World Bank, other donors and the private
sector, is already showing results as witnessed by the country’s strong economic
performance in the last ten years.
During the past 15 years, more than 2,000 projects have committed over US$2 billion
in investments in Uganda, including multinational firms such as Coca-Cola, Pepsi
Cola, South African Breweries, Shell, BAT Industries and Unilever.
In addition, many other large businesses are investing millions of dollars in expanding
their operations in Uganda, targeting this African nation as their next significant
investment frontier.
Investment Incentives
Among the long list of reasons cited by those in-the-know for doing business in
Uganda:
- Uganda has been able to achieve macro-economic stability, compared to the uncertainty
that is rife in many other regions of the world.
- Inflation has been in single-digits for more than ten years, down from a record
high of 240% in 1988.
- Stable annual economic growth averaging 6% per annum
- Market-driven exchange rates
- No restrictions on 100% foreign ownership of investments and no barriers to remittance
of dividends
- Uganda’s shilling is fully convertible and has remained stable over the last years.
- The country is one of only five countries in Africa that have no restrictions
on capital amount transfers.
- The environment for private sector investment has improved significantly with
the formal economy growing in importance.
Uganda today has a solid peoples’ parliament and a self-determining judiciary. Together,
these institutions have been able to guarantee stability, providing investors with
a high degree of certainty for their future planning.
‘Africa’s Friendliest Country’
Uganda is extremely proud of its reputation as ‘Africa’s Friendliest Country’. The
country’s prestigious status is widely associated with its tradition of warm hospitality,
a very low crime rate, eco-friendly policies, and its promotion of women’s rights.
The climate, too, is extremely agreeable.
Have Fun, Too!
While Uganda is a great place to work, it also offers more than its fair share of
fun-time activities.
Apart from terrific restaurants, pubs, nightclubs and casinos – as well as a host
of sporting and generally ‘regular’ pursuits, such as cinemas and golf courses,
- Uganda offers a slew of leisure activities off-the-beaten-track, both literally
and figuratively speaking.
The beautiful island-speckled Lake Victoria region underscores the country’s attraction
as a favourite safari destination. Centuries-old botanical gardens abound with a
vast array of primates and colourful tropical birds. Take time to travel across
tropical channels teeming with hippo and crocodiles before setting off into the
magnificent mountains to get phenomenal views of mountain gorillas.
Where else but in this incredibly verdant country can you observe lions prowling
the open plains and chase chimpanzees through the rainforest all in the same day?
Uganda is famed as the only safari destination whose range of forest primates is
as remarkable as its selection of antelope.
In fact, Uganda ranks among the top ten countries in the world in terms of the variety
of its mammal groups. By comparison with the UK, for instance, Uganda supports “five
times more bird species, six times as many mammals, ten times as many reptiles and
amphibians, and three times the number of plant species.”
The country offers exceptional diversity - combining some of the best qualities
that the continent has to offer. Uganda provides contrasting features, ranging from
extensive plains to snow-capped mountains; breathtaking waterfalls to winding rivers;
and fantastic flora and fauna.
All-in-all, the country is phenomenal.
So, if you like the sound of big money opportunities, exotic adventures and a fantastically
unique experience – set your sights on Uganda!
For further information about Uganda we recommend that you visit http://en.wikipedia.org/wiki/Uganda where you will find many
useful links and informative articles to prepare you for your move.