Last Updated on Thursday, 07 November 2013 20:34
“Uganda Development Corporation (UDC) is an investment institution established as a wholly owned government entity with the mandate to facilitate the industrial and economic development of Uganda.
Established by the UDC Act Chapter 326 of 1952, Laws of Uganda, the mission of UDC is to make long-term investments in strategic sectors of the economy in order to stimulate industrial and economic development and thus spur private sector growth. This UDC will accomplish through investing in sectors of the economy which at times are not readily attractive to the private sector alone either due to high initial capital requirements, resource constraints or low returns in an immediate future and yet provide a strategic bridge that would foster private sector developments due to minimized risk. In promoting development of a private sector-led economy, UDC seeks to maximize the benefits that ensue from specialized skills in the private sector while providing the critical government partnership required for the mutual benefit of the parties (government and private sector); hence the strategy of Public Private Partnerships.
Albeit being wholly government owned, UDC is governed in its investment decisions and operations by best commercial practice and prudence and maintains a strict commercial orientation while being driven by economic and financial return to the government of Uganda, the private sector and the people of Uganda.
UDC is committed to maintaining high professional and ethical standards in corporate governance, transparency, and accountability and therefore selects investments based on established investment principles and values. UDC usually does not necessarily take a controlling role or seek to influence operations in the companies in which it invests. While each investment is unique, UDC believes in the importance of having a long term vision, and as a result, is committed to investing for long-term, stable, sustainable, and risk-adjusted return on investment. UDC’s investments are not limited to any particular sector,geography, or asset class and include industry & mining, agroprocessing, infrastructure, real-estate, energy among others .UDC is committed to maintaining the highest professional and ethical standards of corporate governance, transparency, and accountability.
UDC’s corporate governance structure includes the Minister responsible for Industrial Development, Board of Directors, and a Management Team. Although it operates with independence and investment decisions are based on the economics of each investment, UDC remains accountable to the Government of the Republic of Uganda and to the citizens of the Republic of Uganda.”
UDC will be the leading agent for the industrial and economic transformation of Uganda; both on its own and in partnership with the private sector
To initiate, promote, facilitate and implement strategic development projects which catalyzes the industrial and
economic transformation of Uganda. As the engine of industrial and economic growth and development of Uganda, UDC is committed to steering the transformation of the country to a middle income economy by 2040
CORPORATE VALUES AND BELIEFS
“UDC is governed in its operations by a series of corporate values and beliefs. In ensuring that it’s run as a self-sustaining and profitable corporate entity, and for every venture and undertaking that UDC is involved in, UDC ensures the following:
(a) Compliance with prevailing laws in Uganda and all international conventions to which GOU is a signatory;
(b) Transparency in the implementation of its operations in order to be fully accountable to the public and the GOU;
(c) Deliberate policy of corporate social responsibility;
(d) Integrity and ethical conduct in the decisions and actions of employees, management, shareholders and clients; and
(e) Provision of the best possible environment for employee retention, employee skills development and employee loyalty.”