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Business Profile
Economy: Agriculture dominates the Ugandan economy, accounting for half of total output and employing over 80 per cent of the workforce. Livestock rearing and a wide range of subsistence crops meet local needs; coffee is the main export commodity. Tobacco, tea, sugar cane and cocoa are also grown for export, and some processing of these is now carried out locally. The industrial sector produces textiles, cement, fertilisers, metal goods and a variety of household items. There are large deposits of copper and cobalt, the mining of which has been disrupted by civil wars and insurgency. In addition, there are known deposits of tin, tungsten, beryllium and tantalum ores.
The economy recorded fairly steady economic growth throughout most of the last decade (currently 5.7 per cent) and, in contrast with much of the rest of Africa, has enjoyed a series of good harvests. The most pressing problem has been the country’s huge debt burden. Uganda has benefited from several cancellations of long-term debt under a programme operated by the Paris Club of major donors and, more recently, the Heavily Indebted Poor Countries relief programme. In exchange, the Government has been obliged to introduce a series of economic reforms, principally the removal of price controls and trade restrictions and a reduction in government spending. Uganda is a member of the African Development Bank and of the Common Market for Eastern and Southern Africa (COMESA). Uganda’s principal trading partners are Kenya, the UK, Japan, the United Arab Emirates and India.
Business: A suit and tie are best worn by men for business meetings. English is used for all business discussions. Appointments should always be made. Office hours: Mon-Fri 0800-1300 and 1400-1700.
Commercial Information: The following organisation can offer advice: Uganda Investment Authority, PO Box 7418, Investment Centre, Plot 28, Kampala Road, Kampala (tel: (41) 251 562-5; fax: (41) 342 903; e-mail: info@ugandainvest.com; website: www.ugandainvest.com); or contact the Embassy/High Commission (see Contact Addresses section).
Conferences/Conventions: The Uganda International Conference Centre with its main auditorium and three committee rooms has seating for up to 2000 persons. It is adjacent to the 4-star Nile Hotel and is 3km (2 miles) from the centre of Kampala. For further information, contact the Uganda International Conference Centre, Nile Hotel International, PO Box 7057, Kampala (tel: (41) 235 900-6; fax: (41) 259 130; e-mail: nileh@imul.com).
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