BY K F MALE: The state house investor protection unit has revealed that Land fraud cases, solicitation of bribes are some of the cases that have been frequently reported on the State House Investor Protection Portal since December 1st last year when it was launched.Edith Nakalema, the commander of SHIPU, emphasized the portal’s role in removing intermediaries who have for long hindered the investment process, mostly affecting foreign investors.
“After our first month, we received over 20 reports of investors being swindled,” Nakalema said. The portal, which is directly linked to the president’s office, ensures that each case is monitored and resolved swiftly, underscoring the government’s commitment to investor protection.
In just five months, (SHIPU) online portal has reported 271 cases of investor fraud, highlighting the critical need for streamlined and transparent investment processes in Uganda. The portal serves as a comprehensive centre that integrates all relevant government ministries, departments, and agencies (MDAs) to facilitate investment procedures and protect investors from fraudulent activities.
Among the 271 cases, 171 were filed by local investors, while the remaining involved foreign investors. Land fraud emerged as the most prevalent issue, with 57 cases reported. Other significant complaints included bribery solicitations, bureaucratic delays, financial disputes, mediation and arbitration issues, extortion, impersonation, and taxation-related problems. Nakalema described the portal, which supports more than ten languages, as a transformative tool for Uganda’s investment landscape.
Highlighting the portal’s efficacy, Nakalema recounted a case involving an Indian investor who almost lost property worth $76 million due to a loan issue. During the Christmas holiday, officials from the Ministry of Lands attempted to transfer her land title to a bank. SHIPU’s timely intervention, even during the holiday period, ensured that the property was retained by the rightful owner.
Emek Eker, Uganda’s honorary consul to Turkey and an investor with two registered companies in the country, praised the portal. Eker noted that it simplifies the investment process and eliminates the need for costly delegations to attract investors. “It’s a very user-friendly system, and being directly connected to the president is a significant advantage,” she stated. The SHIPU online portal stands as a testament to Uganda’s dedication to creating a secure and efficient investment environment, promising a brighter future for both local and international investors.