TASLAF Advocates Contributes to the Chambers Private Equity Guide 2026 — Uganda

Global Practice Guide Contributor

TASLAF Advocates has contributed the Uganda Law and Practice and Trends and Developments chapters to Chambers and Partners’ Private Equity 2026 Global Practice Guide. The publication offers comparative legal analysis for private equity investors, fund sponsors and businesses.

The Uganda chapters were prepared by Stephen Tumwesigye, Jemimah Atukunda Mugume, Ruth Nanjobe and Remmy Wahanze, drawing on the firm’s experience advising private equity sponsors, venture capital funds, impact investors, development finance institutions and portfolio companies across East Africa.

Uganda’s Private Equity Market

The Law and Practice chapter examines Uganda’s private capital and M&A landscape, including growth-stage investment, venture capital, private debt and transactions in regulated sectors. It highlights the importance of regulatory approvals, sector-specific compliance and transaction structuring.

The guide covers:

• Transaction activity and legal developments, including the evolving private equity regulatory framework.
• Regulators and due diligence, with attention to licensing, sector approvals and investment risks.
• Acquisition structures and documentation, including financing, consideration mechanisms, warranties, indemnities and risk allocation.
• Takeovers, management incentives and portfolio oversight, including shareholder rights and governance arrangements.
• Exit strategies, including drag and tag rights and public-market considerations.

Structuring and Establishing Private Equity Funds

The Trends and Developments chapter focuses on establishing Uganda-domiciled private equity funds. It explains how the Capital Markets Authority (Licensing and Approval) Regulations, 2025 expressly recognise private equity and venture capital funds, and considers companies, partnerships and trusts as available fund vehicles.

Fund sponsors must consider their investment strategy, investor base, governance objectives and tax position when selecting a structure. The chapter discusses establishing the legal vehicle, applying for CMA approval and preparing the supporting constitutional, governance and management documentation.

Governance, Compliance and Tax

The guide explains ongoing regulatory oversight, financial reporting and record-keeping obligations, as well as the need to engage with the CMA on regulatory expectations. It also examines the Income Tax (Amendment) Act, 2024 exemption for income derived from or by a private equity or venture capital fund regulated under the Capital Markets Authority Act.

Tax outcomes depend on the fund’s legal structure, the residence of the fund and its investors, and applicable treaty arrangements. Sponsors should obtain transaction-specific advice rather than assume that the same treatment applies to every investment vehicle.

Read the Complete Uganda Chapters

The attached guide contains both Uganda chapters and the contributing team’s profiles.

Download the full Chambers Uganda Private Equity Law Guide 2026 below for the complete analysis.

Prepared by TASLAF Advocates — Stephen Tumwesigye, Jemimah Atukunda Mugume, Ruth Nanjobe and Remmy Wahanze. Contributed to Chambers Global Practice Guides, Private Equity 2026.