Uganda Scoops Another Award for Best Investment Destination in Africa

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Uganda continues to solidify its position as a top investment destination in Africa, adding yet another accolade to its portfolio. Uganda was recently named the leading investment destination in Africa by the Annual Investment Meeting (AIM) 2024 in Abu Dhabi, a platform that recognizes global investment opportunities.

The prestigious award was received by the State Minister of Finance for Investment and Privatization, Evelyn Anite, who is currently in the United Arab Emirates (UAE) to engage with investors from around the world. The Uganda Investment Authority revealed that this recognition signifies Uganda’s unwavering commitment to fostering a thriving business environment

Minister Anite took to her X account, formerly known as Twitter, on May 8, 2024, to share the exciting news with fellow citizens.

“Fellow citizens breaking news from the world’s leading investment platform at the AIM Congress UAE Abu Dhabi, Uganda has been awarded a recognition award of best investment destination in Africa. Special thanks to His Excellency President Museveni and Uganda Investment Authority,” Anite stated.

In addition to winning the award for the leading investment destination in Africa, Uganda’s Foreign Affairs team also held a meeting in the UAE with BMS Holding Group, a prominent company based in the United Kingdom. BMS Holding Group has expressed interest in investing in Uganda’s value-addition initiatives for coffee, cocoa, and gold.

Minister Anite jubilantly proclaimed, “Standing tall among global investment giants! From the regional head to Africa’s finest investment haven. Applause to Uganda Investment Authority.”

This is not the first time Uganda has received recognition for its appeal to investors. In 2023, the country was bestowed with the title of the leading UAE investment destination in East Africa. Building on this success, Uganda has now been acknowledged as the most outstanding investment destination in Africa, with Tanzania following closely in second place.

The key criteria for this esteemed recognition were the investments attracted by Uganda since the previous year, as well as those anticipated to be finalized by the end of this year. The Uganda Investment Authority revealed that the UAE investments concluded in 2023 alone amounted to a staggering $700 million. These investments were distributed across various critical sectors, including agro-processing, renewable energy, tourism, telecommunications, oil and gas, mining, construction, security, health, and education.

Among the prominent UAE companies investing in Uganda are MASDA, Sharjah Chamber, Rowad Capital, AMEA Power, STREIT Group, Global Gases Group, General Petroleum, Metro Cement, Reportage Properties, and EXIM Finance, to name a few.

Uganda’s consistent recognition as a premier investment destination in Africa underscores the country’s continuous efforts to attract foreign investments and foster economic growth. The government’s enabling policies and conducive business environment have undoubtedly played a crucial role in attracting significant investments from around the globe. With this latest accolade, Uganda is poised to further strengthen its position as an attractive investment hub in Africa.

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