The State House Investors Protection Unit (SHIPU) has been commended for its efforts in empowering investors in Uganda.
This commendation was made during a meeting between the Head of SHIPU, Col. Edith Nakalema, and officials from Uganda Baati Limited, led by the company’s Chief Executive Officer, Mr. George Arodi. The meeting took place at SHIPU’s offices in Kampala on Thursday.
Mr. Arodi praised the unit for its excellent work in protecting both domestic and foreign investors and fostering a thriving investment climate in the country. “We appreciate you for the good work you are doing,” he said. He also highlighted Uganda Baati’s contributions to Uganda’s socio-economic transformation, noting that the company is the leading manufacturer and supplier of roofing products in Africa. “We operate in nine countries and are the longest-serving investors in Uganda, having been here since 1964. We introduced iron sheets to Uganda and decided to bring the technology here,” he asserted.
Additionally, Mr. Arodi expressed gratitude to President Yoweri Museveni for establishing SHIPU to support investors. “H.E. the President has emphasized attracting investment. Many investors have faced frustration due to individuals demanding a percentage of their investments to operate in Uganda. We truly thank the President for this protection,” he added.
Col. Nakalema, in turn, commended Uganda Baati for choosing to invest in Uganda. She informed the delegation that SHIPU was established to enhance operations in promoting and protecting investors in the country. “We recently launched the Electronic Investors Protection Portal to provide guidance to investors through access to authentic government sources, offer a comprehensive reporting mechanism for investor inquiries and complaints, support enforcement, and ensure regular feedback to investors,” she explained. Col. Nakalema emphasized that this portal aims to protect investors from individuals who demand bribes and delay investments. “We want to eliminate those who frustrate investors,” she urged.
The State House Investors Protection Unit was established last year by President Museveni to create a thriving investment climate in Uganda by safeguarding investors from corrupt practices and unnecessary bureaucracies.