Uganda Development Corporation (UDC) is the development and investment arm of the Government of Uganda, with the mandate to promote and facilitate the industrial and economic development of Uganda.
Objective of the Corporation.
The objective of UDC is to promote and facilitate the industrial and economic development of Uganda. For the purposes of attaining its objective, UDC is mandated to establish subsidiary and associated companies; enter into public private partnerships with any commercial, industrial or agricultural undertaking or enterprise; through public private partnerships, assist in the financing and management of undertakings promoting industrial or economic development; promote and facilitate research into industrial or economic development of Uganda among others.
Functions of the Corporation
The functions of the Corporation are to facilitate Government investment in strategic sectors of the economy for the purposes of industrial and economic development through PPPs or joint ventures or other arrangements with any domestic or foreign entity, to take over, manage, promote and facilitate entities in which the Government of Uganda has interest; advise the Minister of Trade and Industry on the industrial and economic development of Uganda; promote, finance or guarantee the financing of any undertaking in Uganda or outside Uganda among others as mandated by law.
Nature of Investment
UDC aims to invest in sectors of the Ugandan economy that are perceived to be high risk or are deemed not to be attractive by the private sector (local and foreign) especially when it relates to large infrastructure and industrialization projects either due to high initial capital requirements, resource constraints or low returns in the immediate future and yet provide a strategic bridge that would foster private sector developments due to minimized risk. The investments by UDC are not restricted to any particular sector of the economy or geographical region of the country or asset class.
In the performance of its functions, the UDC consistently follows the Government policy on industrial and economic development. The Uganda Development Corporation Bill 2014 when passed into Law by Parliament shall establish the Uganda Development Corporation as a body corporate with perpetual succession and a common seal; to promote and facilitate the industrial and economic development of Uganda; and for related matters.