This archive report was first published on 13 September 2021.
On September 13, 2021, Ugandan government officials made a significant announcement to attract Kenyan investors to the country. They promised free land and tax incentives to those who want to set up processing industries in Uganda.
According to Ugandan Agriculture State Minister Bright Rwamirama, the country has large tracks of land and farm produce, making it an ideal destination for investors. He noted that investors only need to set up industries to process and do value-addition on the farm produce.
Uganda requires 20 tea processing plants to cover the surplus tea and package it for the international market. The country also needs modern storage warehouses to address post-harvest wastage, said Rwamirama.
“When we call you to come and invest, we will also help you find a new market. We provide cheap credit to farmers... and Kenyans who invest in Uganda will get credit at the same rates as Ugandans,” explained Rwamirama.
Ugandan State Minister for Investment and Privatisation Evelyn Anite added that 25 industrial parks across the country will be given free of charge to Kenya investors. The investors will also enjoy nine tax incentives once they incorporate their businesses either in Uganda or Kenya.
“We give you free land in our 25 gazetted industrial parks across the country without any conditions. You just have to incorporate your business in Nairobi or Kampala,” said Anite.
Minister of Trade, Industry, and Cooperatives Uganda Walakira Godfrey urged Kenyan investors to invest in the coffee sector, which is the most traded commodity globally after oil and gas. Uganda is the number one coffee exporter in Africa but still cannot meet the global demand, he said.
“In Uganda, your number one thing to invest in is coffee. We invite investment into the coffee value chain as we seek to produce instant coffee. We produce seven million bags per annum yet the target is 20 million bags in the next five years,” said Walakira.
