Governance & Accountability
Uganda is the 137 least corrupt nation out of 180 countries, according to the 2019 Corruption Perceptions Index reported by Transparency International. The World Bank Report on Corruption (2015) reported that Uganda was losing up to US$ 1 million to corruption every year. Corruption therefore constitutes a major challenge for businesses operating or planning to invest in Uganda. Uganda’s regulatory system is compliant with international standards, but bureaucratic hurdles impede its efficiency (ICS 2017) and are therefore prone to corruption. Government has put in place mechanisms for fighting corruption however they need to work with the Private sector. Corruption hinders private sector growth, wastes time, destroys productivity, kills innovation, delays investment, impacts profitability and affects return on investment. The war against corruption cannot be won without private sector participation and vigilance.