Business Openings in Kampala City, Uganda

Kampala-City3

Kampala City, the capital of Uganda is one of the rapidly developing cities of Africa. Its economy is flourishing and its population has stretched to one million. One can now see Kampala as a beautiful landscape of new buildings, roads, malls, apartments and hotels. It is rapidly becoming the best region in East Africa to do business. Managing director of DHL Express Uganda, Asteway Desta says that the discovery of oil in Uganda was what helped kick-start its economy. The first formal oil discovery in Uganda was made in 2006. Twenty oil and gas discoveries have been made in the country since then. The discovery of oil has drawn much foreign investment into the country. A large number of international companies are now investing in Uganda. The country now occupies a critical position in East Africa due to its young workforce and competitiveness.

SMEs (small and medium enterprises) in Uganda are beginning to engage actively in importing. An area known as Kikubo in downtown Kampala is the import center. These SMEs play a main role in the economic development of Uganda. They are becoming the entryway to employment . These small enterprises in Uganda are importing a variety of  bulk items ranging building and industrial materials and equipment to everyday items like shoes and accessories. According to a new report by the United Nations, Uganda has become the favorite port for foreign investors in the region of East Africa. The report also indicates that the greatest foreign investment in 2012 was made in Uganda, mainly in the sectors of oil, gas and mining.

Uganda BusinessThe increasing interest of foreign capitalists in Uganda also creates an opening for translation services. The official language of Uganda is English which is spoken only by educated Ugandans; whereas other widely spoken languages are Ganda or Luganda, Swahili and Arabic. In order to take full advantage of the business opportunities available in the country and to reach out to a maximum number of local people, foreign investors need to hire an efficient and professional translators from reputable translation services companies. Some translation service companies functioning in Uganda at the moment are Chicago Translation Services and New York City translation services. Today, foreign investors still have strong opportunities waiting for them in Uganda.

Sources

http://www.ugandainvest.go.ug/index.php/sme-activities

http://www.monitor.co.ug/News/National/Uganda+favourite+destination+for+foreign+investors++UN+Report/-/688334/1909634/-/j4x0s1/-/index.html

http://www.petroleum.go.ug/page.php?k=curnews&id=12

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