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China tops investments in Uganda in 2018

By Taddeo Bwambale, Peninah Nyangoma

Added 24th September 2019 11:43 AM

China is Uganda’s second-largest trade partner with volumes above $850m in 2017, according to Uganda Revenue Authority (URA) figures.

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Joseph Kiggundu One stop center Uganda Investment Authority (left) and Lawrence Byensi Acting Director Uganda Investment Authority during a press conference at the Uganda media center on Monday. (Photo by Nancy Nanyonga )

China is Uganda’s second-largest trade partner with volumes above $850m in 2017, according to Uganda Revenue Authority (URA) figures.

INVESTMENT

China registered the highest amount of planned investments in Uganda in 2018/19, with a total value of $607.3m, accounting for 45.1% of all the planned investments. 

Ugandan investors came in second with total value of $328.7m, followed by Lebanese ($70.6m), Indians ($58m) and United Arab Emirates ($55.7m).

“The number of Chinese investors with interest in Uganda has been growing, Lawrence Byensi, the acting director-general of the Uganda Investment Authority told journalists on Monday.

Byensi, while presenting a performance report of the authority for the financial year 2018/19, said most Chinese investments are in manufacturing and construction.

UIA licensed 286 new projects in 2018/19 with estimated total value of $1.34b (sh4.9 trillion) and potential to create 59,940 jobs.

Foreign investors collectively account for 75.6% of all last year’s new investments, compared to those established by domestic investors which accounted for 24.4%.

China is Uganda’s second-largest trade partner with volumes above $850m in 2017, according to Uganda Revenue Authority (URA) figures. 

There are about 200 Chinese firms in Uganda dealing in such fields as construction, communication, hospitality and trade. 

In recent years, the Chinese government has funded large infrastructure projects (roads, power stations and factories) and encouraged Chinese firms to invest in Uganda. 

The 50km Kampala-Entebbe Expressway, 183MW Isimba Hydropower Station and 600MW Karuma Hydropower are some of the signature infrastructure projects funded by China.

 

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