Museveni Launches Electronic Investors Protection Portal to Safeguard Investments

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Summary:

• President Museveni launched the Electronic Investors Protection Portal in Uganda, a digital platform aimed at safeguarding investments, commending the initiative while addressing challenges like corruption during the ceremony at State House, Entebbe.

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On the 13th of December 2023, President Yoweri Kaguta Museveni inaugurated the Electronic Investors Protection Portal (EIPP), a digital platform crafted to ensure the security of investment processes within Uganda. The ceremony unfolded at State House, Entebbe.

Developed under the leadership of Col. Edith Nakalema within the State House Investors Protection Unit, the EIPP serves multiple purposes. It guides investors by providing access to authentic government sources, offers a comprehensive reporting mechanism for investor inquiries and complaints, and ensures robust enforcement and follow-up on reported issues, coupled with regular feedback to investors.

Moreover, the portal acts as a crucial link connecting investors with relevant Ministries, Departments, and Agencies. It incorporates language translation features to accommodate non-English speaking investors.

During the portal’s commissioning, President Museveni commended Col. Nakalema for her initiative in supporting Uganda’s mission to create prosperity through investment. He emphasized the importance of the Investors Protection Unit in focusing on government officials’ facilitation or hindrance of investment efforts rather than becoming embroiled in private disputes.

President Museveni highlighted Uganda’s historical economic challenges, including policy mistakes that hindered development, such as the nationalization of private company shares in the 1970s. He attributed Uganda’s economic growth to the National Resistance Movement’s policies, emphasizing the importance of the private sector, peace, and infrastructure. However, he acknowledged that corruption remains a significant obstacle to faster economic growth.

In his address, President Museveni cautioned against corruption practices, including bribery, delays, and attempts to gain shares in companies, urging government agencies to prioritize integrity in their recruitments.

Hon. Evelyn Anite, the Minister of State for Investment and Privatisation, expressed gratitude to President Museveni for his leadership in promoting Uganda’s socio-economic transformation. She commended the digital solution and its direct reporting feature, enabling the President to monitor the investment climate in real time.

Col. Nakalema assured the President that the EIPP would address challenges faced by investors, providing a reporting mechanism for inquiries and complaints, and facilitating quick feedback. The portal, hosted by NITA-U Uganda and managed by the State House Investors Protection Unit, aims to protect investors by guiding them to authentic information and preventing interactions with fraudulent entities.

Dr. Hatwib Mugasa, the Executive Director of NITA-U, assured the President that the digital portal is user-friendly and will effectively achieve its goal of protecting investors.

Established earlier in the year, the State House Investors Protection Unit aims to promote and protect a thriving investment climate in Uganda. The event was attended by key stakeholders, including government officials from the Ministry of Finance, Ministry of ICT and National Guidance, and Uganda Registration Services Bureau.

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