The Head of the State House Investors Protection Unit (SHIPU), Col. Edith Nakalema has called upon stakeholders in Uganda’s mining sector to protect and promote the sector in order to present a significant opportunity for driving the country’s economic growth, industrialization, job creation and increased foreign exchange earnings.
She said this will boost Uganda’s national development.
“Together, we have the opportunity to address the challenges, seize the opportunities, and set the stage for responsible mineral sourcing practices and investor protection that align with international standards,” Col. Nakalema noted.
The Head of SHIPU made the remarks on Wednesday during a consultative meeting on responsible mineral sourcing and investor protection held at SHIPU offices in Kampala.
The meeting was attended by senior government officials and officials from the private
sector.
According to Col. Nakalema, SHIPU has been receiving numerous complaints of fraud and other challenges from investors in the mining sector and such consultative meetings are one of the collective resolve and determination that can help to deal with the pertinent issues.
“Considering our role as SHIPU, we are inspired by your good will to discuss ways of providing lasting solutions for better utilisation of our mineral resources,” Col. Nakalema expounded.
She also reminded the meeting attendees that the mission of SHIPU is to collaboratively coordinate stakeholders for a secure investment landscape in Uganda in areas such as the mining industry.
“H.E the President established SHIPU and tasked us to protect both domestic and foreign investors from unnecessary delays and extortion by wrong elements. The unit has registered several
complaints relating to fraud in gold trade and we continue to coordinate with anti-corruption agencies in addressing these concerns.”
On the other hand, Col. Nakalema proposed that the government should incentivize responsible mineral sourcing practices and put up measures to protect investors in the mining sector as well as elevate the role of Artisanal and Small-Scale Mining (ASM) while ensuring that it aligns with national development goals.
“I appeal to each one of us to commit to this cause and work together to protect Uganda’s reputation as a secure and thriving investment destination,” she asserted.
“By implementing the solutions discussed today, we can turn challenges into big opportunities that serve the interests of all Ugandans.”
Col. Nakalema suggested that a technical steering committee should be put in place to help in streamlining the mining sector through guidance and technical expertise.
