By David Rupiny
A new Board of Directors of the Uganda Investment Authority (UIA), the chief investment promotion agency of the Government of Uganda, has today been inaugurated.
The Chief Magistrate of Nakawa Chief Magistrate’s Court, Her Worship Ritah Kidasa, administered the oath of secrecy and oath of office at the inauguration ceremony witnessed by the Minister of Finance, Planning and Economic Development, Matia Kasaija, and the State Minister for Privatisation and Investment, Evelyne Anite.
The new board, which was appointed effective October 1, 2024, for an initial three-year period, replaces the Morrison Rwakakamba-headed board.
The new Chairman is Dr. Robert Kyamanywa, an economist, entrepreneur and who represents the private sector.
Other members of the board are:
Dr. Anna Nakanwagi-Mukwaya – a medical doctor, public health specialist and scientific director and Chief Executive of Mak4, a skincare company and an investor in Namanve Industrial Park;
Dr. Patrick Wakida Godfrey – the Chief Executive Officer of Research World International Ltd. and Chair of pharmaceutical company, Dei BioPharma. He represents the private sector;
Mrs. Bridget Nambooze Musumba – Managing Partner in CM Advocates LLP, which specializes in cross-border business mergers and acquisitions, regulatory compliance, real estate, and finance. She represents the private sector;
Ms. Namakoye Faith Jullie – an entrepreneur, representing the private sector;
Lynette Bagonza, the Permanent Secretary of the Ministry of Trade, Industry and Cooperatives. She represents the ministry; and
Mr. Byaruhanga Ira Kirungi John – Acting Commissioner in the Tax Policy Department of the Ministry of Finance, Planning and Economic Development. He represents the ministry;
The Minister of Finance, Planning, and Economic Development, Matia Kasaija, said the number one task of the new board is to steer UIA to drive Uganda’s industrialization agenda effectively.
“This is a serious role and your responsibility is to boost industrialization and create jobs for our young people because unemployment is an existential problem and your focus should be on how many jobs we are creating yearly”, said Kasaija.
Minister Kasaija warned the board members against engaging in corrupt practices and creating a conducive environment for investments in Uganda.
He said: “Deal with investors very well, make them your friends instead of repelling them. If you mess up things, you will frustrate our quest for full industrialization. I want to hear every investor is being treated humanely and assisted to set up investments and create jobs”.
He thanked the Rwakakamba-headed board for its significant contribution to driving Uganda’s industrialization agenda and urged them to continue sharing ideas and experiences with the new board.
The State Minister for Privatisation and Investment, Evelyn Anite, told the new board to get to work in earnest and ensure seamless provision of services to investors in order to boost Uganda’s industrialization.
“Be truthful, candid, and don’t fear anybody. My expectation of you is to steer UIA well and acquaint yourself with the operations and assets of the authority,” said Anite.
The new chairman, Dr. Robert Kyamanywa, emphasized the importance of teamwork, open communication, collaboration, mutual respect, and adherence to institutional policies to enable the smooth running of the authority.
Dr. Kyamanywa said UIA has a very clear mission of promoting, attracting, and retaining value-adding domestic and foreign investments, a challenge that must be dealt with.
“The country is looking at us and at the end of the day we must demonstrate to Ugandans the number of industries and jobs we have created and policy reforms we have championed”, said Dr. Kyamanywa.
He reached out to the management and staff of UIA to look at the changes not as a threat but as an opportunity to cultivate common ground, tackle the challenges of investments, and move forward.
The outgone Chairman of UIA, Morrison Rwakakamba, thanked President Yoweri Museveni for allowing him to serve the country and hailed the collegiality he had with the finance ministry and management and staff of UIA.
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Media Liaison: David Rupiny, acting Deputy Director for Communications and Public Relations, Mobile: +256785291625, Email: drupiny@ugandainvest.go.ug
