At the Annual Investment Meeting (AIM) in Abu Dhabi, Uganda was awarded the top investment destination in Africa, attracting over $1 billion in Foreign Direct Investment (FDI) from the United Arab Emirates (UAE) in the past two years. The country’s total FDI surpassed $1.5 billion in 202

Uganda’s Investment Authority received the Best Destination for Investment in Africa Awards 2024, confirmed by State Minister for Investment Evelyne Anite. This follows a similar recognition in 2023 for being the best investment destination in East Africa.

The Ministry of Finance, Planning, and Economic Development reported an upward trend in FDI inflows, reaching $1.5 billion for the year ending April 2023. Despite Western sanctions, the World Bank forecasts economic growth in Uganda, with FDI contributing over 4% to its GDP.

Uganda’s strategic measures to attract FDIs include reliable electricity, tax holidays, efficient transport infrastructure, and high-speed internet. The AIM Global Investment Awards recognized Uganda for its stellar performance in attracting investments and fostering a favorable business environment. Over 170 countries participated in the event, promoting investment opportunities.

Source: Business Insider Africa