Uganda Sees Record $5.4B FDI Amidst January 2026 Elections

Uganda’s economic landscape experienced a notable surge in capital, attracting a substantial $5.4 billion USD (approximately UGX 20 trillion) in Foreign Direct Investment (FDI) and portfolio inflows during the recent January 2026 election period. This figure marks a significant departure from historical patterns where election cycles typically led to investor hesitancy and capital outflows.

Dr. Ramathan Ggoobi, the Permanent Secretary and Secretary to the Treasury, who is also acting as the Minister of Finance, Planning, and Economic Development, highlighted this positive development. He stated that the country received $3.7 billion in FDI and an additional $1.7 billion in portfolio inflows. This reversal demonstrates a growing investor confidence in Uganda’s economic trajectory and political stability.

“Unlike in the past when, during election time, investors would ‘wait and see and spirit out capital,’ the last election period saw a dramatic reversal with significant capital inflows,” Dr. Ggoobi remarked, emphasizing the shift in market sentiment.

The substantial inflows have had a direct impact on Uganda’s foreign exchange reserves, boosting them to cover 4.2 months of import needs. This increased reserve level enhances the country’s economic resilience and capacity to manage international trade.

Uganda continues to offer a wide array of investment and business opportunities across various key sectors, presenting a fertile ground for both domestic and international investors.

For those looking to explore investment opportunities in Uganda, the eBiz portal at www.ebiz.go.ug serves as a helpful resource. This information is based on reporting from the Uganda Investment Authority.