The industrial sector is gaining momentum, growing at about 7% annually. Uganda’s government, through the Uganda Investment Authority, is developing more than 20 industrial parks to promote manufacturing, agro-industrial value addition, pharmaceuticals, and mineral processing. Foreign and local investors are entering industries such as electronics, solar products, building materials, and pharmaceuticals, making manufacturing a central pillar of long-term growth.

Services dominate the economy, contributing over 40% of GDP. Tourism is a standout performer, generating over USD 1.5 billion annually thanks to Uganda’s diverse wildlife, national parks, and cultural heritage. The ICT and digital finance sector is also rapidly expanding, with mobile money and fintech services driving financial inclusion. Uganda has become a hub for telecom innovation, with leading operators preparing to list fintech arms on the local securities exchange.

Looking ahead, oil and gas remain the most transformative prospect. With production expected to begin later this decade, the East African Crude Oil Pipeline (EACOP) and related projects are set to inject billions into the economy, though environmental and financing challenges remain.

Uganda’s long-term vision is ambitious: to grow its economy tenfold to USD 500 billion by 2040. This will be achieved through agro-industrialization, tourism, mineral beneficiation, and science and technology innovation. With strategic reforms, improving infrastructure, and an investor-friendly environment, Uganda is steadily positioning itself as a regional powerhouse and an attractive destination for global business.