Regus Anticipates Exciting Opportunities in Fast-Growing Uganda

Mar 24, 2011, 06:00 ET from Regus

KAMPALA, Uganda, March 24, 2011 /PRNewswire-FirstCall/ --

- Businesses to Benefit From Dynamic Expansion of Regus Network Into New Markets

A new Regus business centre in Uganda's capital, Kampala, offers a valuable platform for businesses to explore revenue opportunities in East Africa. It is global workspace provider Regus' first centre in Uganda, and brings the number of countries where it operates to 87, of which 13 are in Africa.

"Uganda's economic stability makes it a good base for doing business. As a fast-growing economy, committed to trade and industrial diversification, it's very attractive to companies looking to expand into new markets," comments Mark Dixon, Global CEO, Regus plc. "The new Regus centre in Kampala offers companies the chance to explore the many possibilities here with zero up-front capital and minimal risk - an ideal springboard for entering this exciting market."

Uganda's economy grew by an estimated 5.8% in 2010, and real GDP growth of 6.1% is predicted in 2011.[1] Rich in natural resources, the country is still predominantly agricultural, but other opportunities are plentiful: oil reserves have been discovered, and the manufacturing, tourism, mining, ICT and construction sectors are all growing strongly.[2]

The country's strong trading links with Europe, the Middle East and Asia also make it attractive for companies looking to expand their geographic footprint. Uganda's economic partners include the UAE, UK, Switzerland, Germany, India and China as well as neighbouring countries like Kenya and Sudan.

The buoyant economic environment is confirmed by the Professor Maggie Kigozi, Executive Director of the Uganda Investment Authority[3]: "The Uganda Investment Authority is very pleased that Regus is expanding its network to Uganda. The country is at the heart of investment in East Africa, with great investment potential in all sectors but we need all these opportunities broadcasted to even larger audiences than we have now. The prospects of the Ugandan economy going forward look positive; with continued macroeconomic stability, oil prospects, stable political leadership; Uganda will continue to grow in a bid to reduce poverty as we launch the next drive to becoming a middle-income country. We, therefore, believe that with companies like Regus now coming to Uganda, we will be able to attain these goals."

Dixon adds, "With the developed economies of Western Europe and the US producing negative or minimal growth in recent years, businesses need to find growth from new sources - whether that is in Africa, Asia or other regions.

"As companies look at these new markets, we're seeing accelerating demand for our flexible workspaces. In response to this, we've expanded our network rapidly in recent months - not just into Uganda, but also Oman, Tanzania, Ghana and Lithuania, to name just a few. As the world of work becomes ever more integrated and mobile, and companies more agile, we expect demand for our services to continue to grow in 2011 and beyond, and we will expand our network accordingly."

Notes to Editors

About Regus

Regus is the world's largest provider of workplace solutions, with products and services ranging from fully equipped offices to professional meeting rooms, business lounges and the world's largest network of video communication studios. Regus enables people to work their way, whether it's from home, on the road or from an office. Customers such as Google, GlaxoSmithKline, and Nokia join hundreds of thousands of growing small and medium businesses that benefit from outsourcing their office and workplace needs to Regus, allowing them to focus on their core activities.

Over 800,000 customers a day benefit from Regus facilities spread across a global footprint of 1,100 locations in 500 cities and 87 countries, which allow individuals and companies to work wherever, however and whenever they want to. Regus was founded in Brussels, Belgium in 1989, is headquartered in Luxembourg and listed on the London Stock Exchange. For more information please visit: www.regus.com

To download a copy of the full report please visit: http://www.regus.presscentre.com

[1] IMP World Economic Outlook, October 2010 ( http://www.imf.org/external/pubs/ft/weo/2010/02/pdf/text.pdf).

[2] Uganda National Development Plan, April 2010.

[3] The Uganda Investment Authority (UIA) is a semi-autonomous government agency operating in partnership with the private sector and government to drive national economic growth and development. The Authority was established by the Investment Code Act, Cap 92 Revised Edition 2000 Laws of Uganda.

SOURCE Regus