During the International Labour Day celebrations in Buikwe district in July 2023, , President Yoweri Museveni announced the establishment of an investors’ protection unit under his office. This unit aimed to support, guide, and safeguard investors from corrupt practices and exploitation as they sought opportunities within Uganda.
Colonel Edith Nakalema was appointed by President Museveni to lead this unit. As the unit approaches its first anniversary, Nakalema expressed gratitude to the President for his unwavering support and guidance, which she believes has been instrumental in the unit’s achievements.
Nakalema highlighted the unit’s accomplishments over the past year, emphasizing its commitment to addressing the needs of investors and combating corruption. She shared her vision for the future, focusing on continued collaboration with various stakeholders to foster a conducive environment for investment in Uganda.
The establishment of the Uganda Electronic Investors Protection Portal, launched by President Museveni at State House Entebbe, was a significant milestone for the unit. This online platform provides accessible support and information to investors, regardless of their location.
Throughout its first year of operation, the unit has handled over 300 cases and engaged with both local and international investors. Collaborative efforts with government agencies, such as the Uganda Revenue Authority, have been essential in addressing concerns raised by traders regarding taxation and financial support.
Efforts to improve access to financing, including engagement with the Bank of Uganda and commercial banks, have been ongoing. Despite initial challenges, progress has been made in disbursing funds to local traders, albeit at a slower pace than anticipated.
The unit has also focused on enhancing awareness and education among citizens about the importance of supporting wealth creators. This involves encouraging collaboration with academic institutions and anticorruption centers to gather research and insights that can inform the unit’s work effectively.
Looking ahead, Nakalema envisions continued collaboration with stakeholders and the promotion of a thriving investment climate in Uganda. The unit remains committed to its mandate of protecting and supporting investors, guided by the principles of transparency and accountability.
