Recent Study: Uganda Infrastructure Report Q1 2015

The Ugandan government remains committed to the country's infrastructure development, and Uganda's growing economy and continued progress towards bringing the country's oil reserves online are eliciting private interest in the market. As such we are maintaining our positive outlook for construction industry growth.

For 2015 we are maintaining our forecasts at 7.3% for year-on-year real growth.

Key Trends And Developments

* The planned 10% increase in government spending in FY2014/15 - compared to the 20% annual expenditure growth averaged between FY09/10 and FY13/14 - suggests that the government is mindful of these pressures on revenue generation - which is a key downside risk to our forecasts.
* BMI's Oil and Gas team expects delays to bringing oil online, forecasting 2019 at the earliest, but we expect infrastructure investments to realise this to be forthcoming in the years prior to first oil.
* The government pledged to tackle power shortages in the country and presented a long list of renewable power stations that have been lined up for construction. Hydropower projects are a key pillar in the authorities' plans to bridge the country's electricity deficit - a major growth bottleneck -with roughly USD2.35bn due to be invested in the Karuma and Isimba dams over the next five years. However, a reliance on hydropower will increase the country's exposure to weather conditions and we also note that risks remain prominent as corruption is likely to delay these efforts.
* South African firm Sanlam plans to invest USD190mn in Uganda's real estate sector and we expect growing private consumption and increased business travellers to see opportunities in retail space and hotels.
* Uganda is set to build a USD8bn standard gauge railway. China Harbour Engineering Company are the lead contractors and at least partial funding is expected from the China Exim bank.

Full Report Details at
- http://www.fastmr.com/prod/900784_uganda_infrastructure_report_q1_2015.aspx?afid=301

The Uganda Infrastructure Report features Business Monitor International (BMI)'s market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Uganda Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Ugandan infrastructure and construction industry.

Key Benefits

* Benchmark BMI's independent infrastructure industry forecasts for Uganda to test other views - a key input for successful budgetary and planning in the Ugandan infrastructure market.

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