Officials from the State House Investors Protection Unit (SHIPU) and the Uganda National Chamber of Commerce and Industry (UNCCI) convened today to explore avenues for collaboration aimed at bolstering investments in Uganda.
At the meeting held at the State House Investors Protection Unit Offices in Kampala, Col. Edith Nakalema, head of the unit, commended UNCCI for its steadfast efforts in advancing and safeguarding the interests of Uganda’s business community.
Acknowledging the pivotal role played by businesses associated with the chamber in driving investment and economic growth, Col. Nakalema stressed the importance of collaboration to enhance the business environment in Uganda. She emphasized SHIPU’s commitment to coordinating with various agencies to ensure a secure investment landscape.
Expressing gratitude for UNCCI’s initiative in initiating discussions on collaboration, Col. Nakalema underscored the chamber’s significance as an engine of economic growth and transformation.
Additionally, Col. Nakalema briefed UNCCI members on the benefits of utilizing the Uganda Electronic Investors Protection Portal, an innovative platform launched by President Yoweri Kaguta Museveni to streamline investment processes and safeguard investor interests.
Highlighting the portal’s functions and success in handling complaints, Col. Nakalema emphasized its role in providing a direct channel for investors to seek assistance and report grievances.
“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,” she asserted.
Ms. Olive Kigongo, President of Uganda National Chamber of Commerce and Industry, reiterated the chamber’s commitment to promoting and protecting the interests of the business community and she expressed eagerness to collaborate with SHIPU to enhance Uganda’s investment sector.
“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.
Ms. Kigongo also praised the efficacy of the Uganda Electronic Investors Protection Portal in supporting investors and addressing challenges in the investment landscape.
Hon. Anne Mary Tumwine, Woman Member of Parliament for Ntoroko District, emphasized the vital role of investors in driving national development, while former Attorney General Mr. Fred Ruhindi commended Col. Nakalema for her efforts in fostering a secure investment environment.
“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.” Mr. Ruhindi asserted.
Mr. Thomas Makundane, Chairperson of UNCCI in Mbarara City, proposed the establishment of regional investment protection offices and a voluntary oversight team to bolster investor protection across Uganda.
The meeting, attended by representatives from various regions, served as a platform for fruitful discussions on enhancing collaboration and bolstering Uganda’s investment climate.