Protecting the Wealth Creators

Thank you very much. The State House Investors Protection Unit was established by his Excellency the President of the Republic of Uganda. He made the first announcement of his plans of establishing this unit on the 1st of May, 2023, which is always celebrated as International Labour Day, while in Buikwe. On 14th May, while at Kololo, presiding over the funeral service of the late Minister Engola (rest in peace), he announced that he had appointed Colonel Edith Nakalema to head the Investors Protection Unit. He tasked the unit and myself as its first leader to ensure that every investor, every wealth creator, is given immediate attention to ensure that they are guided through the investment process – all wealth creators at all levels, both domestic and foreign (or local and international). The President prefers using the word wealth creators in addition to investors, because if you are to look for the academic definition of an investor, it will be too wide for a developing country like Uganda. If you want to protect all investors in their capacity as investors, because an investor will have invested a lot of capital in that investment that must pay taxes, that must employ other people, that must have some big capital to put as security with the investment authority. Briefly, that’s how I would describe the word investor. But in this case, for us at the Statehouse Investors Protection Unit, the President directed us to protect every wealth creator, big or small, old or young, at whatever level. We have to ensure that everyone adding value to the country is helped – including even the welfare of their families and their communities, as long as they approach us for any guidance, particularly in the lines of value addition. We are meant to ensure that investors are given every attention. I would insist on the word, wealth creators, given my earlier description of the word investment. So, we as the investors’ protection unit, are supposed to guide everyone adding value to lives. I don’t have to keep describing the where and how. Everyone adding value to lives and economic development, in our view, is an investor given the mandate we are given to ensure that we guide everyone adding value – authentic government ministries, departments and agencies – to ensure that nothing is not extorted from them, and they are not delayed. So, the main task of Statehouse Investors Protection Unit is to collaboratively coordinate with all government ministries, departments and agencies, as well as the private sector, to ensure that wealth creators are not diverted by any wrong elements and are not delayed in any government office or any private sector office as long as we can coordinate. It is our duty to collaboratively coordinate with all agencies established in the country to ensure that investors are well-guided, well-protected from wrong elements, and supported with authentic information and government facilities in those ministries, departments and agencies