The State House Investors Protection Unit (SHIPU) has been commended for empowering investors in the country.
This was during a meeting between the Head of SHIPU, Col. Edith Nakalema and officials from Uganda Baati Limited led by the company’s Chief Executive Officer, Mr. George Arodi, held at the unit’s offices in Kampala on Thursday 18th July, 2024.
Mr. Arodi appreciated the unit for the good work it’s doing when it comes to protecting both domestic and foreign investors, through creating a thriving investment climate in the country.
“We appreciate you for the good work which you are doing,” he said.
Mr. Arodi also informed Col. Nakalema that they are the leading manufacturer and supplier of roofing products in Africa, and he was happy to note that Uganda Baati has made a contribution towards the socio-economic transformation of Uganda.
“We operate in nine countries and we are the longest serving investors in Uganda. We have been here since 1964. We came here when people didn’t know about Iron sheets but we decided to bring the technology here,” he asserted.
On the other hand, Mr. Arodi thanked President Yoweri Museveni for setting up the unit in favour of the investors.
“H.E the President has been putting a lot of emphasis on attracting investment. So many investors have been frustrated because there are some people who want a certain percentage from investors in order to allow them to invest in Uganda. We really thank the President for the protection,” he added.
On her part, Col. Nakalema lauded Uganda Baati for taking a good decision to invest in Uganda.
She further informed the delegation that H.E the President set up the SHIPU in order to intensify operations in promoting and protecting investors in the country.
“We recently came up with the Electronic Investors Protection Portal to offer guidance to investors through access to authentic government sources, give a comprehensive reporting mechanism for investor inquiries and complaints, support enforcement and regular feedback to investors,” she said.
Col. Nakalema noted that with this portal, investors are protected against falling into the hands of wrong elements who ask for bribes and delay investments.
“We want to eliminate wrong elements who frustrate investors,” she urged.
Meanwhile, the State House Investors Protection Unit was established last year by President Museveni to create a thriving investment climate in Uganda by safeguarding investors from corrupt practices and unnecessary bureaucracies.
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