New board tasked to undertake reforms at UIA

Finance Minister Matia Kasaija has tasked the new Uganda Investment Authority board to take on reforms at the agency (FILE PHOTO)

KAMPALA – The Finance Ministry has tasked the new board at the Uganda Investment Authority to undertake a restructuring process of the government parastatal that is responsible for attracting investment opportunities into the country.

The new seven-member board comprises Mr Emely Kugonza, Mr Morrison Rwakakamba, Mr Fred Opolot, Mr Naima Obombasa, Ms Getrude Lutaaya and Mr Godfrey Byamukama. The Trade Ministry – is yet to nominate its representative.

Investment Minister Evelyn Anite told this website in an interview that the new board will be required to reorganise UIA.

“The new board brings in fresh blood and energy, given that issues of investment keep on changing. They have to restructure UIA. Some people have stayed there for years,” AnitE said at the weekend.

The appointment is expected to bring an end to the tumultuous period for UIA that started with the sacking of the executive director, Ms Jolly Kaguhangire, who among others, was accused of mismanaging a restructuring process, which had by the time at least sent home five directors.

Mr Basir Ajer, her temporary replacement, resigned in January. Ms Anite said it is time to put to rest the current problems at UIA, many of which have been a result of poor management.

The old board was composed of Ms Olive Kigongo, Mr Moses Kaggwa, Mr Fred Ogene, Ms Mary Katarikawe, Ms Shifa Ndagire Kaddu, Mr Godfrey Sasagah, Prof George Pikwang, Mr Ramadhan Bukoma and Ms Betty Adima, all of whom were not returned. Currently, Mr Lawrence Byensi is the acting executive director. However, in the new Investment Code the position of executive director will change to the director general.

The new Investment Code reduces the number of board members from 13 to seven.