Willy Mutenza, chairman of the UK-Uganda Business Summit, recently engaged in discussions with Colonel Edith Nakalema, the head of the State House Investors Protection Unit (SHIPU).
Their conversation revolved around the strategies through which SHIPU could assist investors and Ugandan diaspora members in avoiding fraudulent schemes, a challenge that has affected many individuals attempting to invest in Uganda.
Colonel Nakalema underscored the crucial role of the Uganda Electronic Investors Protection Portal (EIPP), an initiative managed by SHIPU. This platform serves as a repository of authentic information for investors and encourages inquiries, verifications, and feedback.
The emphasis on leveraging technology through the EIPP reflects SHIPU’s commitment to combatting corruption and fraudulent activities targeting investors, thus fostering a more transparent investment environment.
Nakalema highlighted the significance of the EIPP as a vital tool for investors to access accurate information, verify the legitimacy of investment opportunities, and ensure a secure investment climate.
Through the EIPP, investors can submit inquiries, verify details, and receive timely feedback, all aimed at protecting them from falling victim to fraudulent schemes.
Furthermore, Nakalema urged investors and members of the Ugandan diaspora to utilize SHIPU’s services to report instances of corruption and bribery demands, underscoring the unit’s dedication to upholding integrity and accountability.
Mutenza commended SHIPU’s efforts, noting that they align closely with the objectives of the Uganda-UK Trade and Investment Summit 2024. He acknowledged the strides made by SHIPU in promoting economic growth and fostering a conducive investment environment.
Looking ahead, the 14th UK-Uganda Trade and Investment Summit 2024 is scheduled to take place on September 6 at the May Fair Hotel in London, UK. This event, themed “Accelerating Growth through Partnerships for Global Market Expansion,” aims to facilitate collaboration between East African and British businesses to unlock the region’s potential in investments and trade.
The summit will bring together high-profile delegates from government, the private sector, development partners, and key East African trading blocs, fostering dialogue and collaboration to promote growth and prosperity.
Mutenza highlighted the opportunities for participants to gain insights into innovative strategies for expanding market reach and forming lasting partnerships across various sectors.
Established in May 2023 by President Yoweri Museveni, SHIPU plays a pivotal role in creating a conducive environment for investors by shielding them from corrupt practices and unnecessary bureaucracies.
Nakalema emphasized that collaborative efforts between SHIPU and initiatives like the Uganda-UK Trade Summit are essential for building investor confidence and driving economic growth as Uganda continues to position itself as an attractive investment destination.
