Fake investors crippled

The Uganda Investment Authority has promised to reduce cases of fake investors following the launch of an electronic one stop center for clearance of investors in Uganda by all stake holders.

Yesterday the authority received the e-BIZ modules for online application for investment licenses, online application for the environmental impact assessment to be used by NEMA, online application for visa and work permit to be used by directorate of immigration as well as the online application for the city operator’s identification number to be used by KCCA.

Now according to the UIA board chair Eng Tobias Karekaho, with this efficient system no briefcase investor will be cleared since all data is generated electronically.

The system allows clearance on an investment application in just two hours.