Uganda’s Minister for Lands, Housing, and Urban Development, Judith Nabakooba, urged lawmakers to swiftly pass the Valuation Bill 2024, currently under review by the Parliamentary Physical Infrastructure Committee.
The object of the Bill is to provide for the Office of the Chief Government Valuer to undertake statutory valuations to establish the Institute of Certified Valuers of Uganda and the Council as its governing body; to provide for membership of the Institute to regulate practicing valuation; to provide for a Professional
Nabakooba defended the bill, stating it would professionalize the valuation industry and curb unethical practices. Delays in passing the bill have hindered key infrastructure projects, she added.
The minister emphasized that the bill would address rising litigation costs, escalating court awards, and lost government revenue due to valuation disputes.
However, Western Youth MP Edson Rugumayo expressed concerns over the ministry’s failure to prioritize amendments to outdated land laws and the Surveyors Act. These laws frustrate land
The Valuation Bill 2024 aims to establish a regulatory framework for valuers, protect professional valuations, and require valuation firms to acquire practicing licenses.
According to Hon. Tony Awany, Deputy chairperson of the Committee on Physical Infrastructure, the bill will create a database to assess information and help the government adopt international standards.
The bill was tabled for its first reading in February 2025 and remains under discussion in the committee. MPs are expected to present their final recommendations before it is debated in Parliament. Land acquisition processes are expected to become efficient once the Valuation Bill, 2024 is passed into law.
It is further projected that the proposed law will lead to improved efficiency of the real estate and financial markets.
The Bill was tabled for its first reading by the Minister of Lands, Housing and Urban Development, Hon. Judith Nabakooba on Tuesday, 11 February 2025.
The new law also aims at increasing public confidence in the valuation function and services, by establishing the Institute of Certified Valuers of Uganda and the council as a governing body.
According to the proposed law, there will be a Chief Government Valuer, whose role will be to undertake statutory valuations.
The Bill states the need to professionalise valuation, arguing that, valuations are used to inform decisions in both the private and public sectors such as real estate and financial markets, infrastructure development, urban development, fiscal regimes, manufacturing and extractives industry, international trade, among others.
“Despite this critical role, the valuation function in Uganda is largely limited to land and land developments, with un-streamlined pre and post training curriculum,” the Bill reads in part.
The proposed law also requires one to be a member of the Institute of Certified Valuers of Uganda, if they are to be recognised as a valuer.