The State House Investors Protection Unit (SHIPU) and the Uganda National Chamber of Commerce and Industry (UNCCI) officials have today met and discussed partnership opportunities, aimed at promoting investments in Uganda.
During a meeting held at the State House Investors Protection Unit Offices in Kampala, the unit head, Col. Edith Nakalema commended the leadership of UNCCI for promoting and protecting the interests of the business community in Uganda.
“We want to thank you for your role in promoting businesses in Uganda. The Uganda National Chamber of Commerce and Industry has stood the test of time, grown a number of businesses and you have contributed to the development of the country,” she said.
Col. Nakalema also explained that the businesspeople under the chamber play a big role in promoting investments in the country since they are a source of income and add value to Uganda products, among other advantages.
She further noted that the SHIPU was initiated by President Yoweri Kaguta Museveni to collaboratively coordinate stakeholders for a secure investment landscape and any collaboration with the unit to push its agenda is highly welcome.
“We should collaborate and promote the business environment in Uganda. It is important to have you by our side because without your experience in managing businesses, we will lack so we need you to always give us guidance,” Col. Nakalema emphasised.
“As State House Investors Protection Unit, we continue to coordinate with all agencies to ensure that all investors have thriving businesses in Uganda.”
On the other hand, Col. Nakalema thanked the leadership of Uganda Chamber of Commerce and Industry for approaching the unit to discuss the possible areas of collaboration, explaining that the UNCCI is the engine of growth which the government can bank on to transform the economy.
Col. Nakalema also tipped the members on how best they can take advantage and benefit from the Uganda Electronic Investors Protection Portal.
The portal, an initiative of the State House Investors Protection Unit, was launched by President Museveni last year in December with an aim of safeguarding investment processes in the country.
“H.E the President guided on how to make the environment of investment of our country better by leveraging technology. With this portal you can make inquiries of any nature, see the beauty of Uganda, compile complaints about the investment atmosphere,” she said.
“It has been proved to be the first one in the whole of Africa which interconnects all agencies, and it is directly monitored by the President. This portal is interconnected with about 22 government agencies and departments which are involved in the investment. You can inquire on any subject matter and the officers will respond to you about anything regarding investment in the country.”
Col. Nakalema also disclosed that this particular portal has four main functions which include guiding investors (domestic and foreign), reporting mechanism, support enforcement and receiving feedback.
“A number of investors have fallen victim to fraudsters and have lost resources. With this portal you don’t need to go through a middleman. You receive feedback in a record time.”
“We have received and handled 180 complaints successfully so far. What is key to us is that the most complaints come from the domestic investors which means they are concerned with the welfare of our investment atmosphere.”
The Uganda National Chamber of Commerce and Industry president Ms. Olive Kigongo said the chamber’s main objective is to promote and protect the interests of the business community, particularly its members who are represented in all the sectors of the economy.
She added that they are looking forward to start working with the State House Investors Protection Unit to improve the investment sector of Uganda.
“We are a multi-sectoral organisation with several business communities. We have 150 regional offices. We are a bridge to different businesses locally, regionally and internationally. On a daily basis we get complaints and inquiries about business opportunities,” Ms. Kigongo said.
She also revealed that they have the capacity to do due diligence for Ugandans and the unit to identify investment opportunities and genuine investors.
“Afande this is very good, we are here to learn how we can work with this office to facilitate investments. The Chamber of Commerce network is so strong that once we inquire, we get a quick response.”
Ms. Kigongo was also happy to note that the Uganda Electronic Investors Protection Portal is supporting all investors in Uganda to ensure that they thrive.
“We have a challenge of having very many centres handling investors, but this portal will help us to deal with that issue,” she said.
The Woman Member of Parliament for Ntoroko District,Hon. Anne Mary Tumwine underscored the importance of investors in moving the country forward.
“We really need to thank H.E the President for setting up this initiative and putting Col. Nakalema as the head, she has really done a lot to fulfil the mandate of the unit,” she said.
The former Attorney General, Mr. Fred Ruhindi thanked Col Nakalema for her efforts in coordinating investors in order to create a secure investment environment in the country.
“These meetings are like a mirror; they help us to look at ourselves and emphasise business hygiene. We must survive in a disciplined environment, and it is precisely why her office was set up.”
The UNCCI Chairperson, Mbarara City, Mr. Thomas Makundane advised that in order to protect the investment climate and ensure protection of investors in Uganda, the government should establish regional investment protection offices and a voluntary team to oversee the activities of the investors in every district.
“We should sensitise the literature about the good of welcoming investors and putting a conducive environment for investment. Local councils and politicians should encourage investors but not to defraud them,” he said.
The meeting was also attended by representatives of UNCCI from the different regions of the country.
