Grace Munyirwa

Uganda’s startup ecosystem is maturing. There is more capital flowing in from private equity (PE), venture capital (VC), and development finance institutions (DFIs). The once-nascent innovation scene is now witnessing landmark investments, scaling ventures—and increasingly, high-stakes exits. Over the past decade, East Africa has attracted more than USD6.4 billion in private equity (PE) and venture capital (VC) investments. As such, Uganda’s share is rising steadily from under 10% in 2013 to nearly 20% by 2023. Once overshadowed by Kenya, Uganda is now second only to Nairobi in regional deal flow, consistently capturing between 15–20% of all transactions. The momentum has…