Business
Diaspora Investment in Uganda’s Economic Growth | Housing, Tourism and other Sectors
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Uganda’s Permanent Secretary to the Treasury, Ramathan Ggoobi, is encouraging the Ugandan diaspora to invest in their homeland’s development, urging them to move beyond remittances. He highlighted five key sectors ripe for investment affordable housing, tourism, digital transformation, capital markets, and export promotion emphasizing lucrative returns and government incentives. Ggoobi cited the substantial remittance contributions from the diaspora and highlighted Uganda’s competitive advantages, including access to large regional markets. The goal is to leverage diaspora investment to help Uganda achieve a $500 billion economy by 2040, and a national diaspora policy is under development to facilitate this. This initiative aims to harness the financial and entrepreneurial power of the diaspora for national economic growth.