By David Rupiny

In a break with past experiences of capital flight and investor hesitation during election cycles, the latest election period in Uganda instead saw 5.4 billion dollars (UGX20 trillion) in foreign direct investment and portfolio inflows.

According to the Permanent Secretary and Secretary to the Treasury, Dr. Ramathan Ggoobi, Uganda received 3.7 billion dollars in FDI and 1.7 billion dollars in portfolio inflows during the election period, signaling growing investor confidence in Uganda.

Dr Ggoobi, currently acting as the Minister of Finance, Planning, and Economic Development, said, unlike in the past when, during election time, investors would “wait and see and spirit out capital, the last election period saw a dramatic reversal with significant capital inflows.

He said the inflows have boosted the foreign exchange reserves to 4.2 months of import cover.

Uganda has vast investment and business opportunities in many sectors.

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To kickstart your investment journey in Uganda, go to: www.ebiz.go.ug