Uganda has previously been ranked as one of the most entrepreneurial countries in the world with nearly every one of five people owning a business.
Now, with the sole aim of empowering small businesses with working capital, government set aside 72 billion shillings as a rotational fund for businesses to borrow, use and repay at the lowest interest rate.
With the spiraling number of malls across the neighbourhoods, Ugandans now have an array of opportunity to do business aided by available growing middle class for consumption, increased spending power, and now capital loans from government.
The country offers various lucrative business opportunities for entrepreneurs.
With about 1,000,000 or less, you can start a very profitable business anywhere in the country. And with more capital, you can venture into bigger businesses like real estate and property sales and management. Though there are several business opportunities, here are the best 10 sectors for investors to explore
Foods and Beverages processing
The consumption of food is a constant. As the population grows, huge opportunities for businesses that can produce and process foods locally also grow. The demand for quality food is increasing with the growing population, especially in the urban areas. If you don’t have a fat capital, you can still start a small food processing business that offers value added processed foods like grains, nuts, cereals, fruits, and vegetables. There is also market for packed juices.
Construction
Due to the rapidly increasing number of new buildings and structures in Uganda, there is a booming demand for construction products and services. With a capital of less than 5m, you can start a business that makes and sells cement blocks or stabilized earth bricks.
With more than 40m, you can venture into concrete pipes making or start a business that leases construction machinery such as trucks, asphalt mixers, bulldozers, concrete mixers, concrete vibrators.
The construction boom in the country is a good push for construction materials manufacturing and the market is readily available.
Real Estate
This is another booming sector in Uganda that investors can explore. With a capital of between 35m and 200m, you can start a real estate business by offering low cost houses for sale to the growing middle class. And for high cost houses such as residential villas, apartment complexes, office complexes, and housing estates, you will require a startup capital above 1b but there is also ready market for the same.
Small manufacturing industries
With little capital, you can venture into small scale businesses that manufacture products that are in high demand. With capital between 4m and 40m, you can start a sewing or tailoring business that produces clothes for men, women, and children.
You can also start a business that offers printing and typesetting services, packaging for paper products and small crafts.
Tourism and Hospitality
Uganda is one of the most visited vacation destinations in Africa. Because Uganda plays host to many visitors annually, there are opportunities for investors to make money off these visitors. With around 400m or more, you can set up a resort or lodge for tourists. You can also set up a hotel that gives the visitors a feeling of home even when they are miles away from home. If you have very little capital, you can turn your home or un-used space into a bed and breakfast lodge for tourists.
Transport Services
Transport is one thing that people need to engage in every day. This explains why there is a huge demand for transport services. If you have a big capital, you can start a business that offers inter-city transport services. Also, once can buy a relatively cheap, used car for use on Uber, Taxify and other platforms that offer transport to the growing number of commuters.
General Trading
Many things sell in Uganda. The secret is to identify any business that caters to people’s everyday needs. So, if you sell products that are in high demand, you’ll make lots of profit off Ugandans. With less than 300,000 starting capital you can start a business that sells second-hand clothing (this sells well in Uganda), newspapers, foodstuff (cassava flour, rice,palm oil, etc), frozen fish, of soft drinks.
With capital between 3m and 5m, you can open a small restaurant,a coffee shop, a mobile phone accessories store, a grocery store, a cosmetic product store, a supermarket, or a jewelry store.
ICT, Computer and Internet Services
With the increasing growth of ICT and the need for computers and internet services, investment in the sector would bring quick business returns. The increasing need for being both computer-literate and internet-savvy, there are opportunities for computer and internet instructors and technicians as well as purchase of actual computers.
Solar Energy
Ugandans are becoming more aware of the advantages of solar energy. So, there are huge opportunities for businesses that offer solar panel installations and those that sell solar power accessories. Also, with the growing demand for renewable energy, solar business would be a profitable venture
Other small businesses and services
Selling isn’t the only lucrative business in Uganda. There are opportunities for those who can render services, too. Examples of services that are in high demand include hair styling, mobile phone repair, a clothes boutique, furniture making,car rental, tractor leasing, and so on.
