Finance Minister Henry Musasizi has said addressing Uganda’s housing deficit estimated at 2.4 million units requires private investment and financing that households and developers can afford. He said Mortgage refinancing can help lenders provide longer-term housing finance.
“Construction is central to Uganda’s ambition to build a USD 500 billion economy by 2040. Agro-industrialisation needs processing plants and warehouses. Tourism needs roads and accommodation. Mineral development and technology need serviced sites and reliable utilities,” said Musasizi.
The Minister made the remarks while officiating at the 3rd Annual Doing Business Forum at Mestil Hotel, Kampala under the theme “Unlocking Uganda’s Tenfold Growth Through the Construction Value Chain: Regulatory Reform, Local Capacity and Infrastructure Investment”
“We will work with local governments to improve physical planning, simplify building approvals and uphold construction standards,” said the Minister, adding that developers should know what is required, what it costs and how long a decision will take.
The Minister said the Finance Ministry will support the phased capitalisation of the National Housing and Construction Company and private innovations that lower the cost of building.
Musasizi said Government and industry must help Ugandan contractors to develop the skills, equipment and management capacity to deliver quality work.
The Forum brought together Government, Private Sector players, Academia and Development Partners to align policy reforms with the National Development Plan IV and the Tenfold Growth Strategy.
The Minister said construction creates demand for Ugandan steel, cement and other building materials, adding that it also provides work for engineers and architects, as well as masons, welders, plumbers and carpenters. “The more of this work Ugandan firms and workers can do competitively, the more value we retain in the economy,” he said.
Musasizi challenged the Forum to identify the practical changes that will reduce the cost and time of building, help Ugandan firms win and deliver contracts, and attract long-term investment.
The Permanent Secretary and Secretary to the Treasury (PSST) Dr. Ramathan Ggoobi said this conversation is intended to feed into the FY2027/28 Budget, adding that a competitive construction industry supports the entire economy.
“Our objective is to build infrastructure efficiently while expanding opportunities for Ugandan contractors, manufacturers, professionals and workers,” said Ggoobi.
He called for improvement in project preparation, coordinated utility provision and timely implementation, adding that Ugandan firms need the appropriate finance, equipment, technical capacity and management systems to deliver quality work on time.
Ggoobi said Government is strengthening UNBS certification and testing capacity and investing in engineering laboratories and regional facilities, adding that quality assurance must protect safety while remaining accessible, timely and predictable for businesses.
He also said Uganda Development Bank’s UGX 150 billion Local Contractors Financing Initiative supports indigenous contractors with affordable finance, equipment and capacity development.
The PSST also said Government has also allocated UGX 422.35 billion to Uganda Development Corporation for FY2026/27 to support strategic investments, including construction.
“Bottlenecks remain in land titling, approvals, standards, utility connections, serviced industrial land and export clearance. I ask this Forum to produce a concise action matrix identifying each constraint, the required reform, the responsible institution, the delivery deadline and a measurable result,” said Dr Ggoobi.
The Minister for Microfinance Shartsi Musherure while closing the Forum called on Government, the private sector and other stakeholders to translate recommendations from the Third Annual Doing Business Forum into concrete actions, investments, partnerships and policy reforms.
She said the construction value chain is not merely a support sector, but a strategic driver of Uganda’s economic transformation, adding that Government remains fully committed to creating an enabling environment for private sector-led growth.
Distributed by APO Group on behalf of Ministry of Finance, Planning and Economic Development, Republic of Uganda.
