In the heat of walk to work demos I made a scheduled family trip to Kampala.

Real Estate (Kakungulu Satelite City Entebbe Road)

I was to follow up to pick the title deed for our proposed mailo plot to be used as a vacation home to be build in future by the vendors Akright Projects Uganda.

We were able to get our sub-lease docs and we were happy at the pace of development in some parts of the estate like some parts were tarmarked, more physical development, and a fully built golf course by Orient bank of Uganda.
The going price of 100 by 50 ft plot is 16M UGX , we bought at 12M UGX in early 2010. The sharp price appreciation is attributed to re-sellers / speculators as Akright Projects the vendors have fully sold out.


Uganda Stocks Investment

We opened a CDS account with African Alliance located in Workers House CBD and we bought the following.

SBU at 275 UGx
NVL AT 640 UGx
NIC AT 70 Ugx
DFCU AT 1000 Ugx

The good news so far is that nvl is now 983 Ugx , post 1:1 bonus SBU is 170 (Invariably 340) UGX cum 7 UGX dividend, NIC is static at 70 UGX,
and DFCU static at 1000 Ugx.
My investment objective is for very long term with dividend yield in mind.


Special thanks to @Njung'e for recommending Entebbe road as the best choice for our plot and my friend @Pkoli for recommending AA Uganda and giving me contact people that made the CDS account opening smooth.

Thanx young wil pay one of them a visit

Thanks Bwana VVS,

But let me restate that :-

(i) The trigger for us to invest in Uganda is borne out of neccesity, our choice of owning a retirement home there makes it mandatory to invest in dividend yielding Uganda stocks as we are strong believers in equity investment.


(ii) We are looking on the very long term because we are aware that Uganda bourse for now is a shallow market.We do not have immediate plans to repartriate gains in local currency. We are more interested in dividends to accumulate to re-nvest or to cover our living expenses during retirement.


(iii) In African markets in general we have factored in downward currency fluctuations to the disadvantage of African currencies, hence the long term objective.


(iv) Luckily (not deliberately) we exchanged 1 US$ for 2380 UGX in late April 2011 not 1800 you mentioned. It is at the moment circa 2450 Ugx to 1 US dollar.

(vi) As far as we are concerned Stocks and real estate (in any form) are siamese twins. We started with real estate (strictly for accomodation) as Uganda was more affordable than Kenya on the chosen location and invariably investing in stocks in Uganda became a neccesity.

(vii) Weakening of most African currencies is not peculiar to Uganda, look at Kenya, Ghana and my native Nigeria, the story is the same.

This is purely our decision....different strokes for different folks !!!

Regards

@VVS,
Please read through the lines, vacation home is different from retirement home. It seems you thought I want to relocate permanantly in future in Uganda. or any other country other than Nigeria, that is very far from the truth.

Be aware that human beings require two basic needs
(i) Living expenses
(ii) Accomodation.

or simply put food on the table and roof over your head.

What I am doing is to plan ahead so that at later age any time I come to East Africa I will have food on my table (Dividends) and roof over my head to reduce my overhead expenses.

At the moment we are paying this from our pockets and this can only be sustained in retirement if we plan ahead that is let our investments pay for our stay.


If we accomplish that goal in terms of accomodation we can rent it out and that can comfortably pay for my short stay in E/Africa.

We chosed Uganda because we could not afford a plot or house in Kenya. Water finds its own level they say. By the time I looked into the possibility of getting a plot/house in a good location in Nairobi, the party was already over in Kenya (price was already prohibitive).
I got in touch with Kenya in 2004 purely for stocks investment, but I was not looking at accomodation direction then.


I hope you know with a tourist visa I can stay for 90 days and that in Kenya for example I can buy my ticket anytime and obtain visa on arrival?

I hope that answers your question ?

OR
let me help with with another question :-
Young how did you arrive at E/Africa for vacation home why not Ghana in your west African region ?


ANSWER
Why do Mzungu's like East Africa ???
The answer is the good weather, the clean air, the beautiful sceneric view (especially in Uganda),the health friendly style of not using airconditioners or electric fans, the abundance of fruits and vegetables, the Bomas of Kenya in Langata road, but NOT the zoos/wildlife neither
a handfull pick pockets in down town city center of Nairobi, or Owino market in Kampala.


Regards

This is my last reply on your queries.

It is visitors like us that can appreciate what you have or what attracts foreigners there.

@young, Centum recently acquired 300acres in some place called Garuga Peninsular near Entebbe Airport, do you know the place and would you invest in Centum at this time because of this investment?

A big yes for those that concentrate on one bourse and one asset class (stocks). Highly recommended to dear Kenyans. In addition they are really thinking outside the box as they plan to invest 50% of their portfolio outside Kenya (Uganda, Nigeria, Ghana, Botswana), though I do not know why they left out south Africa and North African country.



For me NO because I am already doing what they are about to do in a little way otherwise I would not be in Kenya bourse or this forum. Secondly they offer capital appreciation on the short term rather than dividends. I am an apostle of dividend on African bourses to fund my bank accounts where I invest.

@young - Thanks & Interesting... I live in Nairobi thus I guess Kampala [I like it but not my scene] is not a place I would go for a vacation but different strokes for different folks.

But why the attitude? "This is my last reply on your queries." coz it's always interesting to figure out why folks do what they do. I on the other hand admit Kigali might be a place I might want to invest in. Still 'virgin' compared to many other countries.

Nairobi has become too crowded & 'busy' for someone who wants a relaxed vacation though try north of Kilifi on occasion before the Nairobians get there!

Happy vacationing & support KQ!

For the records. Written in Kampala 25/4/2011


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