Uganda gets sh170b boost for manufacturing, export sectors

KAMPALA - Uganda has received a major financial boost aimed at accelerating industrial transformation and export growth.

On Tuesday, July 15, 2025, the World Bank disbursed sh170b, the first tranche of funding under the Investment for Industrial Transformation and Employment (INVITE) Project.

The overall project budget stands at sh800 billion, with sh642 billion earmarked for lending to the private sector through four tailored financing facilities: Working Capital, Receivables Financing (Invoice Purchasing), Credit Guarantees, and Patient Capital—each offered in local currency.

An additional sh158 billion, managed by the Private Sector Foundation Uganda (PSFU), will support Business Development Services grants for enterprises engaged in manufacturing and export-oriented activities, including those in refugee-hosting communities.

The disbursement follows a briefing by the INVITE Investment Committee to the Trustees, including the Ministry of Finance, Planning and Economic Development (represented by the permanent secretary and secretary to the treasury, Ramathan Ggoobi) and the Bank of Uganda (represented by Governor Michael Atingi-Ego).

The Committee confirmed the fulfilment of all pre-disbursement conditions, paving the way for the release of the funds.

The INVITE Trust, a special-purpose vehicle under the project, is designed to channel development financing to support industrial growth, job creation, and private-sector competitiveness.

It is expected to play a critical role in advancing the government’s Tenfold Growth Strategy by enhancing access to affordable finance.

In a press statement on Tuesday, 15 July 2025, the permanent secretary of the Ministry of Finance, Planning and Economic Development, Ramathan Ggoobi, praised the Investment Committee’s progress and the onboarding of KPMG as Trust Manager.

He reaffirmed the government’s commitment to increasing access to affordable finance to spur economic transformation.

Bank of Uganda Governor Dr. Atingi-Ego expressed support for the INVITE Trust, emphasising the initiative’s potential to reshape Uganda’s financing landscape and reaffirmed the central bank’s custodial role in the Trust’s operations.

About the INVITE Project

The INVITE Project is a Government of Uganda initiative, financed by the World Bank and development partners including the Netherlands, the United Kingdom, and Sweden through a Multi-Donor Trust Fund (MDTF). It is jointly implemented by the INVITE Trust and the Private Sector Foundation Uganda (PSFU).