Hamburg-based Hapag-Lloyd, one of the world’s leading liner shipping companies, is breaking ground in Uganda, opening its new office in the capital city of Kampala.
Strategically situated, Uganda provides excellent connections to five neighboring countries in East and Central Africa. With a population of around 50 million, the country has become an attractive market on the African continent. The Ugandan economy is on the rise with an expected GDP growth of 5.9% in 2024. As a landlocked country with no direct access to the sea, it relies on neighboring ports, such as Mombasa in Kenya and Dar-es-Salaam in Tanzania, to facilitate its international trade. The Port of Mombasa handled approximately 200,000 TEU of exports in 2023, with 22% of the volume originating from Uganda, demonstrating the country’s significant role in the region’s trade flows. Most of the cargo between Uganda and the ports is transported by trucks.
Apart from exporting its own commodities, Uganda’s importance also lies in its role as a business hub for packaging and consolidating a diverse range of commodities that move throughout the region. Key exports passing through Uganda include timber and dry hides from South Sudan, cocoa, minerals, and timber from the Democratic Republic of Congo, as well as coffee from Rwanda. These flows highlight Uganda’s growing impact on East African exports and its potential for facilitating trade across borders.
Lars Sorensen, Senior Managing Director Region Middle East at Hapag-Lloyd (Image credit: Hapag-Lloyd)
“Uganda plays a vital role in the export landscape of Africa and continues to see economic growth,” says Lars Sorensen, Senior Managing Director Region Middle East at Hapag-Lloyd. “Opening our office in Kampala is part of our long-term strategy to establish an early presence in emerging markets with high potential. With Kampala as our new hub, we can strengthen our position in the African market, improve service delivery, and better meet the needs of our customers both in Uganda and in neighboring regions.”
The new Hapag-Lloyd office in Kampala will be led by Prashant Sindhwani and has five employees. The owners of Hapag-Lloyd, as of September 30, 2024 are CSAV (30.0%), Klaus Michael Kühne (incl. Kühne Holding AG and Kühne Maritime GmbH (30.0%), HGV Hamburger Gesellschaft für Vermögens- und Beteiligungsmanagement mbH (13.9%), Qatar Investment Authority (12.3%), the Public Investment Fund on behalf of the Kingdom of Saudi Arabia (10.2%), plus a free float of 3.6 %
Hapag-Lloyd at a Glance
Founded: 1970 Headquarters: Hamburg, Germany Employees: 16,700 Offices: 400 (in 132 countries) Vessels: 292 Transport volume: 11.9 million TEU
