By Ritah Kemigisa.
Government has directed the finance ministry to ensure that all accounting officers of government ministries and departments undertake due diligence of all foreign investors seeking partnerships to undertake investment projects.
Briefing journalists about the resolutions made by cabinet yesterday, the deputy executive director Uganda Media Center Col. Shaban Bantariza said the directive is meant to avoid money laundering and cut down on fake investors.
Bantariza says this is because most often crimes like terrorism are funded by such investors, adding that the new directive will help minimize the risks of undertaking investment projects with potential criminals.
He says the directive seeks to also make the investment process in the country smoother and credible.