By Leonard Kamugisha Akida,
KAMPALA
The state minister of finance for investment and privatization, Hon. Evelyn Anite has said the establishment of Investors Protection Unit under Col. Edith Nakalema is spot on.
Anite was addressing journalists at Uganda Media Centre on the upcoming Presidential Investors Roundtable due to take place at Kololo Independence Grounds on November 29, when she said that many investors have been previously forced to close businesses in the country because of the unscrupulous individuals who fleece investors by soliciting bribe.
While at the International Labour Day Celebrations in Namutumba in May, 2023, president Museveni said he was going to institute a specialized unit attached to State House to protect investors from politicians and technocrats asking for bribes from them guising to expedite their efforts to setting up factories something he says slows down the country’s economy.
This according to the president was aimed to increase the trust by the investors in the country’s systems and attract more investors to harness the country’s investment opportunities.
This followed claims by the Labor and Gender Affairs minister, Betty Amongi that corruption tendencies by largely public officials had overtime frustrated investors from setting up their preferable business enterprises in the country.
Ugandans in value addition to benefit from over 200bn post COVID recovery funds. @Rwakakamba – @ugandainvest Chairman says the funds will facilitate small businesses and investors at 10% to be able to capitulate their businesses. @mukiza_robert @HonAniteEvelyn @CoRubanga pic.twitter.com/KMXfgOb2MY
— Parrots UG (@parrotsug) November 23, 2023
Minister Anite further dismissed speculations that the appointment of Col. Nakalema and establishment of Investors Protection Unit explains the president’s lack of confidence in the Inspectorate of Government and State House Anti-Corruption Court. She said the president is non tolerant to corrupt behaviors noting that he will employ different tactics to fight corruption in the country.
Speaking at the same media briefing, Morrison Rwakakamba, the Uganda Investments Authority (UIA) Board Chairman said government has allocated over Shs200b post COVID Recovery Funds to facilitate small businesses and investors to capitulate their businesses. He said, Ugandans in value addition are eligible to benefit from these funds at 10%.
On the other hand, Robert Mukiza, the Executive Director UIA asked individuals willing to participate in this year’s Presidential Investors Roundtable and benefit from the post COVID recovery funds to formalize their business by registering with the authority online via the UIA portal.
