The Head of the State House Investors Protection Unit (SHIPU), Col. Edith Nakalema has today held a fruitful meeting with the British High Commissioner to Uganda, H.E Lisa Chesney MBE at the unit’s office in Kampala.
During the meeting, Col. Nakalema informed the Ambassador that SHIPU was set up in May, 2023 for the sole purpose of expediting government services to investors.
She explained that as a relatively new entity, the mandate of SHIPU is certainly imperative in empowering investors to embark on wealth creation without undue delay.
“Whether it is access to land in industrial parks or activating tax incentives or formalising business registration or expediting an environmental impact assessment or securing power supply, SHIPU is at the forefront of levelling the landscape of these procedures so that wealth creators maintain business costs at an all-time low,” she said.
Col. Nakalema also assured H.E Lisa that Uganda’s investment appeal is globally encouraging, citing that in 2024, Uganda was named the best investment destination in Africa at the 13th Global Annual Investment Meeting (AIM) Investment Awards in Abu Dhabi in recognition of attracting significant Foreign Direct Investment (FDI).
“In the 2023 Africa Risk-Reward Index, Oxford Economics ranked Uganda as the most attractive economy to invest in within the EAC and third across the African Continent, citing macroeconomics stability and infrastructure development,” she said.
“Through the Uganda Investment Authority, Uganda won the greatest Investment Catalyst award in the world at the Go Global Awards in Rhode Island in USA in 2023. Your Excellency, it is these ratings that give the team at SHIPU even more reason to enhance investor confidence through coordinating expeditious attention to investor’s needs.”
Col. Nakalema also revealed that in driving a collaborative approach to tackle investor-related matters, SHIPU is firm in conviction that foreign and domestic investment is the steady pivot around which Uganda’s economy and ultimately, the livelihoods of the citizens will sustainably turn around.
“This meeting also re-echoes our mutual belief in trade and investment as a shared priority that will drive socio-economic transformation in the United Kingdom and in Uganda.”
On the other hand, Col. Nakalema informed her guest that Uganda is cognizant of the role that foreign missions like that of the UK play in promoting the investment opportunities in Uganda.
“We are therefore positive that your very gracious visit this afternoon widens the doors of what we can do together to realize our common aspirations through enhancing investor confidence.”
Col. Nakalema also underscored the role of the Uganda Electronic Investors Protection Portal (EIPP) in safeguarding the investors from fraud and frustrations during the investment process.
The portal managed by SHIPU empowers investors to get authentic information, inquire, verify and receive feedback.
On her part, H.E Lisa commended Uganda for the continued mutual working relationship with the United Kingdom.
She also hailed SHIPU for the good work of protecting the investors from delays and corruption.
“Corruption impedes development and I’m grateful that the government of Uganda has put up several entities like SHIPU to fight the vice,” she said.
“We are going to work together with SHIPU to give investors’ confidence that they are being protected because they contribute to the economic development of Uganda.”
The Ambassador further assured Uganda of more support for mutual benefits between the two countries.
“As the UK High Commission in Uganda we are going to encourage the UK investors to invest more here.”