Uganda Named Top Investment Destination in Africa, Wins Award at Abu Dhabi Investment Meeting

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