The Independent Uganda: You get the Truth we Pay the Price
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Kampala, Uganda | THE INDEPENDENT | Over 271 cases of investor fraud have been recorded by the State House Investors’ Protection Unit (SHIPU) online portal since its launch five months ago.
Edith Nakalema, the State House Investors’ Protection Unit commander who was speaking about the one year since SHIPU was established, revealed that of the 271 cases, the biggest were lodged by local investors, amounting ( 171) while the rest were from foreign ones. She adds that 57 cases of land fraud were the most reported complaints.
Land fraud cases were followed by soliciting of bribes, unnecessary delays and bureaucracy, financial (loan) related matters, mediation and arbitration issues, extortion, impersonation, and taxation-related complaints.
The portal, which translates into more than ten languages both local and foreign, according to Nakalema, says it is a game-changer for Uganda’s investment environment.
The unit commander adds that of the reported cases, 263 were followed up and concluded within the same period, citing an example of an Indian investor who was about to lose prime property in Kampala worth one 75 million dollars over a loan facility, as her land title certificate was shortchanged by the ministry of lands officials during the Christmas holiday when no one is expected to be in the office.
“There is an Indian whose property is worth USD 76 million, here at Kanjokya, it was being taken by the Bank of India on Christmas, and on the 26th I was here. It was about a loan that she was about to complete, it was remaining with less than 10 percent. So they attached her property, and they worked with someone in lands, they were transferring her title into the bank’s name. I had to come and look for the principal judge, and this was during the Christmas holiday when everybody was out of the office,” she explained.
According to Nakalema, the incident happened between December 23 and 26, 2023, and when SHIPU intervened, the property was saved.
Emek Eker, Uganda’s honorary consul to Turkey, in Antalya, who is also an investor in the country, owning two companies that she single-handedly registered, appreciated the portal, saying it is an easy-to-use system and when used effectively, it can save costs of sending a delegation abroad to canvass for investment because it is self-sustaining.
According to Eker, the portal being directly interfacing with the president is an added advantage since there is no one in-between; it’s like communicating with the head of state directly.
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