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CMA, ODPP sign MoU to enhance prosecution of capital markets related offences

The DPP, Justice Jane Frances Abodo together with the CEO of Capital Markets Authority, Mr. Keith Kalyegira

The Capital Markets Authority (CMA) and the Office of the Director of Public Prosecutions (ODPP) have today signed a Memorandum of Understanding (MOU) to carry out joint prosecutions against capital markets offenders.

The establishment of mutual cooperation and collaboration between these two institutions will extend to exchanging of information aimed at promoting the quality of prosecutions relating to capital markets offenders in Uganda.

The CMA and ODPP will conduct joint trainings of staff on enforcement of the capital markets legal framework with an aim of building capacity.

In his remarks about the signing of the MOU, Keith Kalyegira, CEO of the CMA said: “This MOU solidifies our expectations of the ODPP and their expectations of us. We look forward to efficient prosecution of unlicensed players in the capital markets space in providing a secure environment for investors in the capital markets industry.”

“With this MOU, the efficiency of prosecution of capital markets related offences, mostly by unlicensed individuals and firms, is set to rise, to ensure swifter justice to all Ugandans. I wish to thank Justice Jane Frances Abodo and her staff for agreeing to this MOU which is essential to the economic growth of Uganda. Enforcement of capital markets related laws will improve access to long term, affordable financing and sources of relatively low risk avenues to grow passive investments.”

The Director of Public Prosecutions Jane Frances Abodo said: “We are grateful for the cementing of our collaboration with CMA. The ODPP Prosecutors will benefit a lot from the specialized training that will be conducted by CMA and vice versa resulting in strengthened prosecution of capital markets related offences. We look forward to a future with high expectations of expanded opportunities from the MOU.”

It is envisaged that the MOU will result in strengthened prosecution of criminal matters relating to capital markets leading to enhanced protection of the integrity of Capital Markets in Uganda and restored investor confidence.

According to the most recent Annual Crime Report 2021, Economic Crimes, some of which are capital markets related, increased by 9%, moving from 10,057 cases in the year 2020 to 10,966 cases in 2021.

Currently, the CMA is handling 8 cases which are at various stages of prosecution. This MOU will go a long way is quickening access to justice for the victims.

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Africa to celebrate its 59th Liberation Day tomorrow

Maj Gen Kahinda Otafiire.

Africans in Africa and all over the world will celebrate Africa Liberation Day tomorrow on Wednesday 25th May.

African Liberation Day serves a purpose of creating and cooperation amongst African people from either the continent or diaspora since they share culture and historical similarities based on the struggle of anti-slavery, colonialism, neocolonialism and identity challenges.

Uganda’s Internal Affairs Minister who doubles as the chairperson of Global Pan African Movement Kahinda Otafiire has congratulated the African Union and the Regional Economic Communities, African states and all people of African descent upon their 59th anniversary of the African liberation day and founding of the Organisation of African Unity (African Union).

This year’s commemorations have come at a time when the Global Pan African Movement is also organising for the 8th Pan-African Congress.

Otafiire said that as they commemorate, Pan Africanism is facing new forms of challenges alongside the tradition ones of neocolonialism such as the recent storms which devastated parts of Africa, terrorism activities, war in Libya and uncontrollable migration of our people in search for greener pastures.

“These challenges threaten Africa’s strategic future. On this note, the movement is disappointed by Africa’s leadership for having failed to adopt the values of Pan Africanism among the citizens, something that would have helped to avert and avoid the problems which affect us today. Hence the need to dismantle all the colonial structures, fight off imperialism and unify as people of African descent,” Otafiire emphasized.

Otafiire added that the movement also condemns the escalation of pressure and acts of the Western Government and their allies in their pursuit of imperialistic interests with their interference with sovereign states especially Venezuela, Cuba, Nicaragua, Zimbabwe among others.

“We therefore join the rest of the world’s voices to call for respect for world independence- respecting each other regardless of its size, strength, ideology and influence,” he said.

The Pan African Movement is now ready to explore together the African Union, the Economic Regional Blocs, youth and women empowerment, new strategies to enhance Africa’s long desired frontier of liberating the continent and its people from imperialism, and the realization of the unified African government.

“Deeper engagements of the masses especially the youths will be emphasized for better implementation and affecting of the goals,” he added.

The movement together with the Nile Valley Reunion Project and the African Cooperation Union (UK) are enrolling the NVR program to bridge the existing gaps between Africans, improve business, trade and investments by Africans on the continent, relocations as well as cooperation in all aspects of life.

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Police investigates businessman Kirumira over land grabbing

Godfrey Kirumira

Police in Mukono have summoned city businessman Godfrey Kirumira for allegedly forging a kibanja sales agreement for a 45-acre piece of land in Namanve Industrial Park.

Kirumira was summoned together with Andrew Muyonga to appear on Tuesday at Seeta Police Station to record statements in respect to allegations of forgery and uttering false documents.

It is alleged that on October 30, 2021 at Kolo village in Mukono, Kirumira knowingly and fraudulently uttered a false document (kibanja sales agreement) on Block 113, Plot 142 at Mukono High Court, purporting that he had bought it from Yokana Mukasa Galikwoleka, whereas not.

Muyonga is accused of forging a kibanja sales agreement for the land in the same period.

“This office is investigating a case in which you are required to report to Police to assist in providing valuable information required in this matter,” the summons issued on Friday and served to Meddie Katumba on behalf of Kirumira and Muyonga by detective corporal Jebrone Waiswa, state.

The two are expected to be interrogated by detective inspector of Police William Malenge.

When the Police arrested Muwonge, a builder, on April 10, he confessed to signing and placing his right-hand thumbprint on the sales agreement. Muwonge said he was made to rewrite the sales agreement in his handwriting in November 2021 by the site supervisor, Andrew Muyonga, at Jokas Hotel in Bweyogerere, Wakiso district.

Muwonge said he drafted the kibanja sales agreement dated October 30, 2017.

“I wrote the kibanja sales agreement, copying from the copies Muyonga had,” Muwonge, who calls Kirumira his boss, said in a Police statement dated April 10, 2022.

He, however, said he did not see the buyer or the seller while writing the agreement.

A Police forensic report dated April 22, 2022, confirms that the thumbprint, writings and signature in the sales agreement are for Muwonge.

It was signed by Sylvia Chelangat, the acting deputy director of forensic services.

In his Police statement, Musa Hamuza claims he was paid Shs100,000 after signing the agreement on Muyonga’s advice.

He, however, said he found out later that an Indian, Minaz Karmali, was complaining over the same land.

According to court documents, Rogers Mubangizi, a farmer and security guard at Quality Chemicals Limited, says while at Jokas Hotel, Mubiru and Hamza Galiwango, the Uganda Investment Authority (UIA) director for industrial parks development, informed him of the deal and sought his assistance, but he declined to sign the agreement.

The local investor said Liberty ICD has owned three freehold plots No. 1501, 1502 and 1425 on Block 113 in Namanve for many years.

He accused Kirumira of illegally transferring a title on Plot 393, Block 113 into his name.

The title was used as collateral by Capital Ventures International Limited for a Shs400m loan against 85-acre-land.

Court documents indicate that Kirumira paid stamp duty to Uganda Revenue Authority of Shs1.275m, but Capital Ventures had assessed a stamp duty of Shs671.2m.

He said although Kirumira claims it is a kibanja, there is no evidence of a landlord, payment of busulu and its history, maintaining that it is a freehold land that he acquired in November 2010.

Despite the ongoing court case over the matter, Kirumira petitioned the deputy commissioner of lands, who summoned two parties (Prof Minaz and Kirumira) to hear the matter before he takes a decision to either cancel the title or not.

The summons were prompted by lawyer George Kintu, who instituted a forgery case against the businessmen.

This results from a trespass case filed at Mukono High Court by Kirumira against Minaz Karmali, the director of Liberty ICD Limited.

In his complaint, the lawyer said Kirumira alleged to have bought a kibanja from Galikwoleka at Kolo LCI, Nantabulirwa parish, Goma division in Mukono district on October 30, 2017.

However, a death certificate from the National Identification and Registration Authority submitted at Mukono High Court indicates that Galikwoleka, a shamba boy working for the late Charles Kagenya, died on July 20, 1996.

The lawyer said Kirumira attached to his court documents a sales agreement with Joseph Muwanguzi and Musa Hamuza listed as witnesses.

Kirumira contends that he has been the registered proprietor of the land comprised in plots 392 and 393, respectively, for the past five years which he has fenced off.

Kirumira therefore wants court to stop the investor from evicting him from the 46-acre piece of land.

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RUBiS Energy joins Rotary Uganda to equip school girls in Northern Uganda with pads

RUBiS Energy joins Rotary Uganda to equip school girls in Northern Uganda with pads

RUBiS Energy Uganda has donated Shs 10 million in an initiative to pad girls in Northern Uganda and also decarbonize the environment through tree planting.

Speaking at the flag off, Henry Karuhanga, the CSR Referent at RUBiS Energy Uganda said, “The initiatives proposed by Rotaract stood out from the various optional proposals we received for CSR this year and spoke best to our strategy which has reducing our environmental footprint through decarbonization of energy substitution, promoting safe working environments and contributing to a more virtuous society as the core pillars.”

Jemimmah Aupata, the Fuel and Specialities Sales Manager at RUBiS Energy Uganda added that “Many girls are unable to attend classes and attain a good education due to lack of menstrual sanitary towels, an issue that can easily be resolved if we come together and provide these items.”

“As part of our Corporate Social Responsibility, we are donating reusable pads worth Shs 5 million to be sent to the girls in Northern Uganda and also providing fuel to the Rotary team that will be travelling upcountry to make these donations and also embark on a tree-planting drive,” Aupata added.

“There is a tendency to skip classes or completely drop out of school due to lack of proper menstrual hygiene. We hope that these reusable pads can help the girls stay in school and have a chance at a good education without any interferences,” she remarked.

A report by Build Africa indicated that, of the 80 days allocated to a school term, 29.7 per cent of the adolescent girl miss a minimum of four days per cycle including examination days, important class presentations and the introduction of new topics.

Also present at the event was Steven Munabi, a Rotary member himself and the Engineering Manager at Rubis Energy Uganda who emphasized that, “Menstruation should not be looked at as a taboo nor should the young girls face discrimination for a normal human body experience. Steven noted further saying, “Education in this day and time is crucial, no one should miss the chance to a better future due to lack of proper menstrual care products.”

Speaking on behalf of Rotary Uganda, Ian Mwiine commended RUBiS Energy for their efforts in the pad donation drive. “We’d like to thank the team from RUBiS for joining hands with us as we strive to ensure girls across the country have access to proper menstrual hygiene towels.”

“The pads we are donating are reusable and more favorable because they can be used for a long time hence reducing the cases of absenteeism in girls due to periods,” Ian said.

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Court dismisses Bitature’s application, Counsel Muwema ordered to pay costs in $34m loan saga

Patrick Bitature

Businessman Patrick Bitature and his counsel Fred Muwema have been dealt another blow as High Court on May 24, 2022 quashed their application seeking a court injection stopping Vantage from registering with Uganda Registration Services Bureau (URSB) equity shares in Simba Properties Investment Company Limited as the date for the payment of the USD 34 million elapsed in December 2019.

Simba Properties Investment Company Limited, Simba Telecom Limited Linda Properties Limited Elgon Terrace Hotel Limited, Patrick Bitature and Caroline Bitature were the applicants who have now been disappointed by Justice Stephen Mubiru who said their application catastrophically lacks a legal basis, in a ruling that Eagle Online has picked some paragraphs.

Counsel Muwema held personally liable

Meanwhile Bitature’s lawyer Fred Muwema has been ordered to pay the costs of the application to the respondents for wasting court’s time as it acted on the quashed application that had no merit at all.

“The legal costs and time wasted in this litigation could have been avoided entirely if the applicants’ advocates had discharged their duties to the expected minimum standards of professional competence. It qualifies as a “rare and exceptional” case where it would not be fair for the applicants to bear the costs. The costs must be met by the applicants’ advocates in person. Consequently, the application is hereby dismissed. The costs of this application will be met personally by counsel on record for the applicants.”

The applicants and their lawyer Muwema in their application had sued Vantage Mezzanine Fund II Partnership, Warren Van Der Merwe, Derek Alexander, Siyanda Khumalo and lawyers Robert Kirunda, Diana K sabiiti and Moses Muziiki, as respondents to the application.

The judge was displeased by Muwema’s seriousness in the application where he sued respondents for contempt of court, yet he had not filed any case. The judge in his ruling wondered why Muwema had to sue his fellow advocates.

“There is nothing pending determination in that application. The affidavit in support of the application cites Miscellaneous Application No. 408 of 2022 as the pending 15 application for contempt of court order to issue against the respondents. Examination of the Electronic Court Case Management Information System (ECCMIS) of this court reveals that both at the time of hearing and at the time of writing this ruling, no such application has been registered. In short, there are no pending proceedings in this court out of which this application arises. The application is therefore fundamentally misconceived from the outset.”

The judge further held: “Before taking leave of this matter, it is noteworthy that it is a well-established principle that courts have inherent power to maintain respect for their authority and to punish conduct that threatens the proper administration of justice. This includes awarding costs against advocates personally. An advocate who initiates proceedings unreasonably and vexatiously, may be required by the court to satisfy personally the costs of the litigation. An advocate may be ordered to pay costs where he 20 or she has caused costs to be incurred without reasonable cause or to be wasted by undue delay, negligence, egregious misconduct or other default that rises to a “rare and exceptional” level

The  applicants in the suit sought the interlocutory injunction so as to protect themselves “against injury by violation of their rights for which I have already found they could be adequately compensated for in damages if the uncertainty were resolved in their favour at the trial. The applicants’ need for such protection must be weighed against the corresponding need of the 10 respondents to be protected against injury resulting from being prevented from exercising their own legal rights for which it may not be adequately compensated in damages if the uncertainty were resolved in its favour at the trial. Having done so, I find that the balance of convenience is in favour of the respondents.”

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CAF disqualifies Kenya, Zimbabwe from AFCON 2023 campaign

CAF

Kenya and Zimbabwe will not take part in the 2023 Africa Cup of Nations, the Confederation of African Football (CAF) has announced.

“As a consequence of having failed to have their suspensions by FIFA set aside, CAF has confirmed that both Kenya and Zimbabwe will not participate in the TotalEnergies Africa Cup of Nations Cote d’Ivoire 2023 qualifiers,” the CAF statement reads.

The qualifiers will kick-off on 1st June 2022.

CAF had included the two countries in the official draw earlier in April 2022 on condition that the suspension must be lifted two weeks before their first match day.

Kenya and Zimbabwe, suspended for political interference, have not yet met the criteria required by the FIFA Congress as a prerequisite for lifting their suspension.

Because of the suspension, the following will apply:

  • The two associations; Football Kenya Federation (FKF) and the Zimbabwe Football Association (ZIFA) will be considered losers and eliminated from the competition.
  • Groups C and K will be composed only of three teams and the order of the matches will be maintained in accordance with the match schedule that has been communicated to the teams after the draw.
  • The first and runner-up teams of those groups will qualify to the final tournament.

The Harambee Stars, whose most recent Nations Cup appearance was in 2019, had been due to play in Cameroon on 4 June while Zimbabwe, who have been present at the last three finals, were set to host Liberia five days later.

It means that Group C, in which Kenya had been placed, will now compromise of Cameroon, Namibia and Burundi while Zimbabwe’s Group K has been reduced to just Morocco, South Africa and Liberia.

The top two from the groups will qualify for next year’s tournament in Ivory Coast.

The bans imposed by Fifa in February came after both country’s governments stepped in to disband their respective federations.

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President Museveni set to campaign for NRM’s Ojok Oulanyah

President Museveni set to campaign for NRM’s Ojok Oulanyah

The National Chairman of the National Resistance Movement (NRM), President Yoweri Kaguta T. Museveni is today, Tuesday 24th May 2022 expected in Omoro district where he will campaign for the NRM party flag bearer in the Omoro County By-election Andrew Ojok Oulanyah.

According to the party draft program, Museveni will address two scientific meetings, one at Opit Senior Secondary School playground in Omoro town council, where he will meet party leaders from the sub-counties of Lakwana, Lakwaya, Akidi and Omoro Town Council.

The President will also address leaders from Odek, Lalogi, Acet Town council and Orapwoyo sub counties at another rally in Odek Sub-county. 

He is also expected to give guidance on key issues concerning the district as well as the district party structures. The party chairman will also galvanize support of the people of Omoro for Ojok who seeks to replace his father the late Jacob L’Okori Oulanyah.  

Before heading to campaigns, Museveni will pay a courtesy visit to Mzee Nathan Okori, the father of the late Speaker of Parliament Oulanyah, at his home in Lalogi village to commiserate with the family and thereafter lay a wreath on the grave to pay his respects to the fallen former NRM party vice chairperson for Northern Uganda.  

The Party National Chairman’s visit follows three weeks of vigorous campaigns that have been spearheaded by Secretary General, the Rt. Hon. Richard Todwong, along with directors from the secretariat including; director for mobilization, Hon. Rosemary Nansubuga Sseninde, director for communication, Hon Emmanuel Dombo Lumala and Hajjat Medina Naham, the director for Finance and Administration, among other party district leaders. 

The people of Omoro County will on Thursday the 26th May, 2022 be lining up to choose their next Member of Parliament following the demise of Jacob Oulanyah.

The Omoro by-election attracted six candidates that include; Ojok Andrew Oulanyah (NRM), Onen Jimmy Walter (IND), Odonga Terence (IND), Tolit Simon Akecha (NUP), Kizza Oscar (ANT), and Odong Justine (FDC).

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Martyrs’ Day: Police tightens security for pilgrims trekking to Namugongo

Pilgrims trekking to Namugongo

Fred Enanga, the police spokesperson, said a large number of pilgrims are expected to walk long distances from parts of the country and neighboring countries including the DRC, Kenya, Tanzania, Rwanda, Burundi, and South Sudan.

As part of preparations for Martyrs’ Day celebrations next month, IGP Martin Okoth Ochola has instructed all territorial commanders to ensure the safety and security of pilgrims trekking along various roads.

The Inspector-General of Police Martin Okoth Ochola has instructed all territorial commanders to ensure the safety and security of pilgrims trekking along various roads ahead of Martyrs’ Day celebrations next month.

Every 3rd June, the popular religious pilgrimage of the Uganda Martyrs at Namugongo, is celebrated. Unlike the last two years where the event was celebrated virtually due to Covid19, this year’s event is set to be held openly.

The religious event like before will openly take place, with thousands of pilgrims, faith-based tourists and well-wishers expected to participate in the event.

In a statement on behalf of the IGP, Fred Enanga the police spokesperson said many pilgrims are expected to trek on foot covering long distances from different parts of the country, and the neighbouring countries of the DRC, Kenya, Tanzania, Rwanda, Burundi and South Sudan.

As a result, he said the IGP has implored that all officers must provide safety to these groups and also help them, identify habitable places for sleeping, especially at schools, places of worship and community centres, restrict movement under the cover of darkness, identify those who cannot endure the journey, for medical attention among others.

Ochola indicated that so far, they have closely policed the movement of pilgrims from Lira Diocese with more teams from West- Nile, Masaka, Fort Portal, Mbarara, Soroti, and Mbale among others also expected.

“We further urge the pilgrims to carry warm clothing, a few basic items, their identification documents, mobile phones, light bags to avoid wasting energy with heavy loads,” Ochola said.

“It is also advisable that team leaders and individual pilgrims reserve transport money on them, since the return journey is usually not by foot. And while in Kampala, we urge the pilgrims and all well-wishers, especially newcomers, to be vigilant and cautious while going through the heavy traffic, and to further guard against criminals who target phones and other valuables.”

In addition, he wished all pilgrims a safe journey to Namugongo, as they walk to renew their faith and fulfil their religious obligations.

Ochola also thanked the Chief organizers from Fort Portal Diocese, for issuing safety guidelines to all pilgrims trekking on foot and restricting it to able-bodied persons of 16 years and above.

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PPDA looks to business expo to support local businesses

PPDA boss, Benson Turamye.

The Public Procurement and Disposal of Public Assets Authority (PPDA) has organised a business expo through which it intends to support local enterprises grow.

Dubbed the ‘PPDA Business Exposition 2022’, the expo is aimed at contributing to economic growth and connecting businesses to effective procurement systems.

The two-day expo will take place at Kololo ceremonial grounds in Kampala from July 8 to July 10.

The PDDA executive director, Benson Turamye, said; “the expo will provide companies with a unique platform to network with various stakeholders while assisting providers to tap into opportunities that public procurement offers to accelerate recovery from the socio-economic impact of the COVID-19 pandemic.”

Turamye said in a statement that the expo’s goal is to enhance stakeholders’ understanding of the public procurement and disposal processes and systems.

According to PDDA, the government of Uganda annually spends up to 60% of its budget on public procurement of a vast range of goods, services and works.

“This makes the expo the ultimate place for any provider looking for new business opportunities. It will also serve as an opportunity for government agencies to showcase their achievements and accountability to the citizens,” Turamye pointed out.

The expo will culminate in an awards gala on July 10, where awards will be given out to recognize different categories of stakeholders who have excelled in executing public procurement and disposal functions for national development, both in the public and private sectors.

“The expo will also offer an opportunity to providers and other stakeholders a chance to engage with key personnel and organisations that contribute to public procurement. Most of the public procurement officers will be at the venue to network and engage with suppliers,” Turamye stated.

During the expo, PPDA will also train stakeholders on electronic government procurement (e-GP), as well as conduct free skills development sessions under different categories.

The expo will also be a one-stop business centre where members of the public will access services from different government agencies.

“The suppliers/providers who have not registered for e-GP will be registered and trained for free, and a PPDA certificate will be accessed in one day during the expo,” Turamye revealed.

He called upon all registered service providers and accounting officers of government ministries, departments, agencies, and local governments to participate in the expo.

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UIA organizes Uganda-DRC Investment Promotion Summit and Market Access Expo

State Minister for Investment and Privatization, Hon. Evelyne Anite

Uganda’s Ministry of Finance, Planning and Economic Development, through Uganda Investment Authority (UIA), is organizing the first ever Uganda-Democratic Republic of Congo (DRC) Investment Promotion Summit and Market Access Expo slated for June 27th to 29th, 2022.

The Summit, under the theme “Uganda-DRC Investment Promotion and Market Access”, will be held in the Congolese capital city of Kinshasa. UIA is working with ACOPA-ONGd, the Congolese liaison entity that promotes investment and cross-border business in eastern DRC.

The overall objective of the Summit and Expo is to promote and show case investment opportunities, create networks and joint venture partnerships aimed at enhancing investment and market access between Uganda and Democratic Republic of Congo, as well as to promote products manufactured in Uganda.

Speaking on May 23, 2022 at a press conference on the Summit at Uganda Media Centre, State Minister for Investment and Privatization, Ms. Evelyne Anite, said: “We are going to the DRC not for fun but very serious business of promoting investment and trade with Uganda. We are targeting five key sectors, namely, manufacturing, agriculture and agro-processing, services, real estate and trade”

Minister Anite said the Summit is also aimed at promoting the formalization of informal cross-border trade between Uganda and DRC that has been going on for years.

The State Minister for Regional Cooperation, John Mulimba, said “the entry of the DRC into the East African Community family provides an opportunity to Ugandan investors to access new markets and opportunities for growth”, adding that “the new EAC now offers a combined market-driven economy of 300 million people and a GDP of 243 billion dollars”.

The State Minister for Trade, Harriet Ntabazi, called on Ugandan investors and business to seize the investment and trade opportunities to make money and develop Uganda.

The UIA Director General, Robert Mukiza, said through the Summit and Expo, Uganda aims to attract a significant number of Congolese investors to come and set shop in Uganda, taking advantage of Uganda’s strategic location in the heart of the EAC bloc, as well as popularize Ugandan products in the DRC and expand and deepen their market share.

Mukiza said the Summit also aims at attracting more Foreign Direct Investment into Uganda, as the investors would use Uganda’s strategic location to access the expanded East African Community market of over 300 million people, from the Indian Ocean coast to the Atlantic Ocean coast

Mukiza added: “We invite Ugandan investors and businesses to participate in this first ever Uganda-DRC Investment Promotion Summit and Market Access Expo because the dividends would be greater. Please register at www.ugandainvest.go.ug or call +256313301000”

The Chair of the Board of UIA, Morrison Rwakakamba, said the DRC provides the best investment and trade opportunity for Uganda, pointing out a catalogue of Ugandan products that need to get traction into the huge DRC market.

The Uganda Investment Authority (UIA) is mandated to promote, attract, facilitate and register foreign and domestic investments in Uganda.

One of the key strategies UIA deploys is organizing investment promotions (missions, summits, expos, meetings, visits, etc.), domestically and internationally, at which it showcases key investment opportunities in Uganda.

On April 9th, 2022, UIA organized the highly successful West Nile Investment Summit in Nebbi District under the theme “Mobilisation of local investment for industrialization, market access and job creation”.

The Summit attracted a high-powered delegation from Democratic Republic of Congo (DRC) – the National Oversight Mechanism of the Framework Agreement, MNS, and members of the provincial Government of Ituri, and the ACOPA-ONGd, the liaison entity for promoting investment and crossborder business in North-Kivu Province.

The West Nile Investment Summit connected with the political will of our two leaders, His Excellency Yoweri KAGUTA MUSEVENI of the Republic of Uganda, and his Congolese counterpart, His Excellency Felix-Antoine TSHISEKEDI.

The West Nile Investment Summit accelerated a new era in the economic and commercial relations between our two respective State entities at this historic moment when the DRC joins the East African Community.

The Summit agreed on a number of key resolutions, worth noting is Resolution 4, which states thus: “To organize a reciprocal Investment Promotion and Market Access Expo in Kinshasa, on 27th and 28th of June, 2022, and an Investment Promotion summit on 29th June, 2022, in Kinshasa”.

It is against this backdrop that Uganda’s Ministry of Finance, Planning and Economic Development, through UIA, and in collaboration with ACOPAONGd, is organizing the Uganda-DRC Investment Summit and Expo, that will take place in Kinshasa, the capital of the DRC, from 27th to 29th June, 2022 under the theme “Uganda-DRC Investment Promotion and Market Access”.

The overall objective of the Summit and Expo is to promote and show case investment opportunities, create networks and joint venture partnerships aimed at enhancing investment and market access between Uganda and Democratic Republic of Congo, as well as to promote products manufactured in Uganda.

The DRC, a new Member of the East African Community, has a market of over 100 million people, and is an important and growing market for Ugandan products.

Through the Summit and Expo, UIA aims to attract a significant number of Congolese investors to come and set shop in Uganda, as well as other foreign direct investors, taking advantage of Uganda’s strategic location in the heart of the EAC bloc.

Through the Summit, UIA also aims at popularizing Ugandan products and services in the DRC and expand and deepen their market share.

Investors and businesses are invited to register in order to participate in the first ever Uganda-DRC Investment Promotion Summit and Market Access Expo because the dividends would be greater.

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