Prof Augustus Nuwagaba and the head of the State House Investors Protection Unit (SHIPU), Col Edith Nakalema, shared a light moment at the SHIPU offices in Kampala in a jovial meeting on February 19, 2024. The atmosphere was charged with optimism as they discussed the unit’s mission to bridge the information gap and attract more investors to Uganda.
The State House Investors Protection Unit (SHIPU) was birthed in May 2023 under the watchful eye of President Museveni. Its primary mandate, as decreed by the President, is to ensure that the concerns of investors are addressed promptly and comprehensively. Prof Nuwagaba, a distinguished economist from Makerere University, applauded President Museveni for establishing SHIPU, hailing it as a beacon of hope for prospective investors in the country.
Speaking passionately about the newly created Electronic Investors Protection Portal (EIPP), Prof Nuwagaba emphasized its significance in providing accurate and timely information to potential investors. He lamented the lack of information that has hindered investment in Uganda, citing instances where investors were misled and ended up losing money. With the EIPP in place, he believes that investors will be empowered with the right knowledge to make informed decisions.
“It is extremely impressive, and we need to make sure that it gets known by as many people as possible,” Prof Nuwagaba remarked, highlighting the importance of disseminating authentic information to potential investors.
The establishment of SHIPU has been a breath of fresh air for investors who have long grappled with bureaucratic hurdles and extortion. Col Nakalema, the driving force behind SHIPU, has been instrumental in ensuring that investors’ concerns are addressed promptly. At a recent meeting held at the SHIPU offices, Col Nakalema revealed that her team had received over 190 cases from investors, many of which were related to extortion.
With a vision to become a one-stop-center for investors seeking guidance and authentic information, SHIPU aims to streamline the investment process in Uganda. Prof Nuwagaba expressed confidence that SHIPU’s efforts, coupled with the EIPP, will instill greater confidence in investors and pave the way for economic growth and prosperity in Uganda.
“As we embark on this journey, let us navigate the waters of investment with confidence and optimism,” Prof Nuwagaba concluded, echoing the sentiments of many who see SHIPU as a beacon of hope for Uganda’s economic future.
