Please indicate whether there is a foreign direct investment review regime in your jurisdiction in relation to mergers involving foreign buyers / acquirers and kindly indicate the relevant review/regulatory body? If there is, please indicate whether there have been any foreign direct investment notifications to date. If there is no foreign direct investment regime, kindly indicate whether there are any plans announced to introduce it.
There is no foreign direct investment review regime in relation to mergers involving foreign buyers or acquirers in Uganda. The regulation of mergers and acquisitions in public companies is regulated by the Capital Markets Authority. Similarly, mergers and acquisitions in regulated sectors fall under the purview of the sector regulator, for instance, the Insurance Regulatory Authority, in the Insurance sector or the Central Bank, in the financial services sector. Local counsel are not aware of any plans to introduce a substantive foreign direct investment regime.