The land acquisition process in Uganda is expected to see significant improvements with the passing of the Valuation Bill, 2024. Once enacted, the new law is projected to enhance the efficiency of both the real estate and financial markets in the country.
The Bill was introduced for its first reading by the Minister of Lands, Housing, and Urban Development, Hon. Judith Nabakooba, on Tuesday, 11 February 2025.
A key objective of the proposed law is to boost public confidence in the valuation function and related services. To achieve this, the Bill establishes the Institute of Certified Valuers of Uganda and creates a governing council to oversee its operations.
Under the proposed framework, a Chief Government Valuer will be appointed to handle statutory valuations. The law emphasizes the need to professionalize the valuation sector, highlighting that valuations play a critical role in decision-making across various sectors, including real estate, financial markets, infrastructure development, urban planning, fiscal regimes, and international trade.
“Despite this critical role, the valuation function in Uganda remains largely confined to land and land development, with a lack of a streamlined pre-and-post training curriculum,” the Bill states.
To further professionalize the sector, the Bill stipulates that only those who are members of the Institute of Certified Valuers of Uganda will be recognized as official valuers. A member of the institute will be entitled to use the title “Certified Valuer of Uganda.”
Valuers who wish to practice will be subject to vetting by the governing council after submitting their applications. If deemed qualified, the council will direct the Registrar to add the applicant to the register of practicing valuers.
Additionally, the law requires valuation firms to obtain practicing licenses, with each partner in the firm needing to hold a valid certificate of practice.
A significant penalty will be imposed on certified or practicing valuers who allow unregistered valuers to use their names. According to the proposed law, violators will face a fine of Shs100 million, imprisonment of up to two years, or both.
The Speaker of Parliament, Hon. Anita Among, has referred the Bill to the Committee on Physical Infrastructure for further processing.
