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Doing Business in Uganda

Country Characteristics

 

At a Glance

The Republic of Uganda is a land locked country in the East African region. It is bordered by Sudan in the North, Democratic Republic of Congo in the West, Kenya in the East, and Rwanda and Tanzania to the South.

Area: 241,000 sq. km (of which 44,000 sq. km. are covered by freshwater bodies)
Population: 22.1 million; Density 105/sq. km.
Official Language: English
Religion: 89% Christian, 11% Muslim
Time Zone: GMT +3

Largest Cities: Kampala 770,000 ; Jinja 65,000; Mbale 54,000; Masaka 50,000

Currency: Uganda Shillings

 

Economic Indicators

GDP: $5.7 billion GDP Per Capita: $260 Real GDP Growth Rate: 5.5% Foreign Reserves: $773.5 million or 4.7 months import cover (30/05/01) Inflation: 6.4% (June '01)

Government Economic Policy, which also carries the endorsement of both the World Bank and the IMF, continues to focus on maintaining macro economic stability, supporting a high rate of growth and poverty eradication programmes.

 

Uganda has one of the most open business environments anywhere on the African continent. The government has completely divested from trade in goods, leaving the private sector free to compete. Foreign exchange controls were abolished in the early 1990's and in July 1997, capital accounts were also removed. Capital flows thus move freely in and out without the need for any declarations.

 

Political System

Directly elected president with executive authority. Parliament elected on a non-party basis with legislative authority. Head of State and Government is Yoweri Kaguta Museveni and the form of Government is Unitary with limited devolution to districts. The next presidential elections are in 2006. (The last presidential elections held were in March 2001).