UDB tips on patient capital

What the report says

Uganda Development Bank (UDB) is encouraging tourism investors to tap affordable, long-term financing to develop Eastern Uganda’s attractions into businesses that can create jobs and strengthen local economies, according to The Observer. The appeal was made by Peter Watuwa, UDB’s Regional Manager for the Eastern Regional Office, during World Tourism Day celebrations in Mbale on September 27.

Watuwa said the region’s mix of natural, cultural and adventure sites offers investment potential, but that turning them into competitive tourism enterprises will require patient capital and supporting infrastructure. He described tourism as a wider value chain that links lodging, transport, farming, food, creative industries, trade and community enterprises, meaning gains can spread beyond a single hotel or tour operator.

The article cites UDB figures showing that Uganda’s tourism receipts have risen above pre-pandemic levels and now account for a notable share of export revenues. It also points to attractions in Eastern Uganda such as Mount Elgon National Park, Sipi Falls, the Source of the Nile, Pian Upe Wildlife Reserve, Tororo Rock and the Nyero Rock Paintings as sites that could support more investment in accommodation, conference facilities and specialized transport.

UDB said it offers working capital, asset financing, long-term project financing, equity and advisory support, with project tenors of up to 15 years. More broadly, the message reflects a push in Uganda to attract private capital into tourism as a driver of regional development.