Gov’t committed to delivering 10-fold growth strategy, UDB RISE Forum told

KAMPALA, February 28, 2026 — Uganda has reaffirmed its commitment to an ambitious 10-fold economic growth strategy aimed at expanding the country’s gross domestic product [GDP] from US$ 50 billion to US$ 500 billion by 2040, delegates at the just concluded Second Edition of the Uganda Development Bank [ UDB ] RISE Forum were told.

Speaking at the gathering in Kampala, Denis Ainebyona, Commissioner for Industry at the Ministry of Trade, Industry and Cooperatives [MTIC], said Uganda’s GDP has already grown to US$ 60.2 billion, signalling steady progress towards the long-term target.

Manufacturing, he stressed, will serve as the principal driver of this transformation. The strategy rests on a dual approach: import substitution to reduce reliance on foreign goods, and export promotion to increase Uganda’s footprint in global markets.

“Our goal is to increase the share of manufactured exports from the current 22 per cent to 35 percent, with a particular focus on high-value and high-tech products,” Ainebyona said.

Industrial parks at the centre of growth

Industrial parks are expected to play a central role in realising this vision. According to Ainebyona, Uganda currently has 10 operational industrial parks, although full infrastructure development is still underway.

He noted that the parks offer centralised infrastructure — including roads, utilities and waste management systems — enabling industries to operate more efficiently and competitively. Relocating industries into designated zones would optimise resources, attract further investment and foster a more organised industrial landscape.

In November 2023, the government launched guidelines for the development and management of industrial parks, supported by the Global Green Growth Institute. The framework sets out a structured process, from expression of interest and site selection to feasibility studies, environmental and social impact assessments, master planning, infrastructure design, licensing and ongoing monitoring.

“This stepwise approach ensures coordinated and sustainable industrial development,” Ainebyona said, adding that only 645 industries — around 10 per cent of the total — are currently located in designated industrial zones. The government’s priority is to guide remaining industries into these parks to maximise the benefits of organised growth.

He emphasised that collaboration between government, the private sector, development partners and financial institutions would be critical to avoid repeating past planning mistakes and to ensure industrial parks deliver jobs, wealth creation and long-term economic transformation.

Uganda’s manufacturing sector

Uganda’s industrial sector now contributes nearly 25 percent of national GDP, with manufacturing accounting for more than 15 per cent and generating close to 30 percent of total tax revenue.

According to Sophie Nakandi, UDB’s Company Secretary and Director Legal, growth in the sector has been fuelled by agro-processing, construction materials, beverages, light manufacturing, expanding regional trade and deliberate government policy interventions aimed at strengthening domestic production.

However, Nakandi emphasised that industrial real estate must be recognised as central to that ambition.

“Manufacturing cannot scale without serviced industrial parks. Exports cannot grow without warehousing and logistics networks. Industry cannot compete without energy-ready and infrastructure-ready land,” she said.

Nakandi stressed that industrial real estate should not be viewed as a peripheral component of economic growth but as its structural foundation.

“Industrial real estate is not an accessory to industrialisation, it is its backbone,” she added, underscoring the need for coordinated infrastructure development to support Uganda’s drive towards large-scale industrial transformation.

Rethinking real estate and urban planning

The forum also broadened the conversation beyond traditional industry, with speakers highlighting the role of real estate and urban planning in driving economic productivity.

Vincent Agaba, President of the Africa Real Estate Practitioners Alliance, challenged conventional perceptions of real estate.

“Real estate is not just about arcades, apartments and shopping malls. It is an engine for economic growth and a powerful driver of manufacturing,” he said, urging stakeholders to harness the sector to unlock industrial expansion and infrastructure development.

Urban planning expert Charles Nyakwebara warned that investment is outpacing local government planning capacity, leading to land misallocation and infrastructure strain. Industries are often established in unsuitable areas, placing heavy traffic on residential roads and damaging public infrastructure.

He called for strategic zoning of industrial parks, proper servicing with infrastructure and alignment with investor needs. “Planning frameworks must move from paper to ground,” he said, advocating smart growth strategies and traffic-oriented development to ensure sustainable urban expansion.

Building for local context and sustainability

Engineering and sustainability experts urged Uganda to adapt its development model to local realities.

Eng. Apollo Buregyeya, Founder and Chief Executive of Eco-concrete and lecturer at Makerere University, argued that producing engineers to international standards without contextual adaptation would hinder local scaling.

He proposed shifting from a model reliant on cheap labour and expensive imported materials to one based on affordable local materials and higher-value labour, enabling Uganda to move beyond being a destination for foreign technologies to becoming an active shaper of its own industrial future.

Trudy Muwanga, Co-Founder of the Green Building Council Uganda, underscored the importance of green technologies in shaping cost, resilience and long-term performance.

She said early adoption of low-carbon materials, modular construction and energy-efficient technologies would reduce emissions and lock in efficiency. Digital tools such as carbon accounting and lifecycle assessment can make sustainability measurable and financeable. Uganda’s policy trajectory, from Vision 2040 to commitments under the Paris Agreement, provides a supportive framework for systemic sustainable construction, she added.

Financing and Infrastructure gaps

Prosie Kikabi, Senior Investment Executive at the Uganda Investment Authority [UIA], highlighted persistent challenges faced by investors, including inadequate infrastructure, limited access to affordable finance and poor market connectivity.

Industries are frequently located far from raw materials or in areas where roads cannot support heavy transport, leading to inefficiencies and increased production costs. Shared facilities in industrial parks, such as utilities and waste management, remain insufficient, placing additional burdens on investors.

“To unlock Uganda’s industrial potential, we need strategic planning, coordinated infrastructure, accessible financing and inclusive investment participation,” Kikabi said, noting that many local investors have the appetite to invest but lack affordable capital to build facilities even where land is available.

From dialogue to delivery

Closing the forum, Joshua Allan Mwesiga, Director of Strategy and Corporate Affairs at UDB, called for a shift from discussion to decisive action.

“In the coming weeks, RISE moves from conversation to coordinated action,” he said. The next phase will involve targeted stakeholder engagements, challenge validation, structured onboarding and the development of investment-ready pipelines.

“This is how dialogue becomes delivery — by ensuring opportunities are properly structured, matched with finance and approved for funding,” Mwesiga said. “RISE must translate into real projects, real capital and sustained long-term transformation for Uganda. Let us act boldly, together. Twende pamoja.”

RISE Multi-Stakeholder Forum is a high-level convening of government, private sector leaders, innovators, investors, academia, and development partners committed to shaping Uganda’s high-tech future. The forum provides a collaborative platform to align national priorities, unlock innovation-driven growth, and accelerate transformative solutions across key sectors including energy, infrastructure, agriculture, manufacturing, and technology.

https://thecooperator.news/udb-invests-shs-95-billion-in-lango-to-boost-regional-economic-growth/

Buy your copy of thecooperator magazine from one of our country-wide vending points or an e-copy on emag.thecooperator.news