Rédaction Africa Links 24 with Busein Samilu
Published on 2024-02-01 04:40:51
Since its establishment in September last year, the State House Investors Protection Unit (SH-IPU) has received complaints from at least 189 investors, according to Col Edith Nakalema, who heads the Unit. The majority of the complaints came from local investors, who reported multiple frustrations in their dealings with government agencies and ministries. Col Nakalema made these remarks while addressing communication officers from various government ministries, departments, and agencies (MDAs) at her office in Kampala.
Local investors cited issues such as unfair taxation and the high cost of doing business in Uganda as the source of their frustrations. On the other hand, foreign investors reported cases of fraud, bribery, and the use of false documents, as well as delayed decision-making by officials from different MDAs. The SH-IPU has been actively engaging with different investigating agencies and relevant MDAs to address these complaints, and has forwarded the complaints to bodies such as the Inspectorate of Government and State House Anti-Corruption Unit.
The establishment of SH-IPU by President Museveni aims to create an investment environment free from corruption, involving both the government and private sector. Col Nakalema emphasized that the Unit coordinates investigations of all investor-related complaints and supports a friendly dispute resolution approach. It also collaborates with government agencies such as the Uganda Revenue Authority (URA) and Ministry of Finance to sensitize local investors about their rights and available government benefits.
Furthermore, the Unit has introduced the SH-IP Electronic Investors Protection Portal (EIPP) to help investors overcome challenges and conduct due diligence to avoid falling into the hands of fraudsters. The EIPP allows investors to access information and learn about the correct steps to take to avoid being cheated.
In response to the efforts of the SH-IPU, government agencies such as URA and UIA have also taken steps to improve their processes and create ease of access for investors. URA has digitized most of its services to provide easier access to information for investors, while UIA has streamlined its processes to ensure diligent service to investors.
Col Nakalema’s proactive approach to addressing investor frustrations and engaging with relevant government agencies and MDAs is a step in the right direction to promote a corruption-free investment environment. By coordinating with different stakeholders and providing platforms such as the EIPP, the SH-IPU is actively working to protect investors from fraud and unfair practices. The commitment of government agencies such as URA and UIA to support the Unit’s efforts further demonstrates a collaborative approach to improve the investment climate in Uganda.
Read the original article on Uganda Monitor
