Uganda is considered a highly entrepreneurial nation. With more than half of the population comprising of youth, the nation is rich with enthusiasm and high innovativeness in many different sectors so much that Uganda was named as one of the world’s most entrepreneurial nation!
There’s always something new in this resourceful and highly endowed Pearl of Africa. Lamudi shares some business ideas that any entrepreneur looking to invest in Uganda can venture in.
Real estate
Real estate is one of Uganda’s fast growing industries. With the increase in the number of the middle class in Uganda, there’s a high demand for affordable housing. Brokerage, agency and development firms are highly profitable ventures in the country. Starting out in real estate is surprisingly not as costly as its profits seem to suggest if done with discipline and patience.
ICT
Uganda is a fast growing economy, quickly embracing technology with over 5,000,000 internet users and 38 of every 100 people in possession of a mobile phone.
Having an online presence is inevitable for any successful business in Uganda. Online presence gives businesses an opportunity to engage their audience, receive feedback, customer care and lead generation. 60% of Uganda’s population is below the age of 25. This age bracket is tech savvy, pays attention to trends and likes to get things done fast. This makes internet services appealing to them.
Uganda has embraced a number of online businesses such as Hellofood, Jumia, Kaymu, Lamudi, Everjobs, Jovago and others. All these are online businesses offering faster and easier access to essential needs that people would normally go through a lot of trouble to attain.
Tourism
Tourism is another great business goldmine in ‘The Pearl of Africa’. Uganda is a beautiful nation with amazing places to visit, great activities to indulge in including bungee jumping, water rafting, boat cruises and so on. Engaging in offering a service such as transportation to visiting tourists, offering accommodation on some of these sites is a highly lucrative and wise business venture to consider.
Agriculture
Agriculture is the back bone of Uganda’s economy and can definitely go a long way in reaping big profits for one’s business. Uganda is blessed with great tropical weather, fertile soils and conducive conditions for plant growth.
Small agricultural projects are highly sustainable as they do not require large labor force and finances to keep operating. With the ever increasing number of restaurants, the need for food stuffs is shooting up making subsistence agriculture a highly lucrative business.
These are just some of the many business ideas in Uganda. The country is pregnant with innovative and entrepreneurial possibilities. One cannot go wrong when venturing into business in Uganda. Go ahead and start your dream business in Uganda today!