Business 4 September 2026 Daily Monitor (Uganda)
Land and Financial Fraud Plague Ugandan Investors, Col. Nakalema Reports
Land and financial fraud continue to be the primary obstacles hindering both domestic and international investors in Uganda, leading to significant capital freezes. The State House Investors' Protection Unit (SHIPU) has recovered billions of shillings in fraudulent deals over the past three years. Source: https://www.monitor.co.ug/uganda/news/national/land-financial-fraud-top-investor-complaints-nakalema-5583090
Colonel Edith Nakalema Asizua, Head of the State House Investors’ Protection Unit (SHIPU), has highlighted that land and financial fraud remain the most significant challenges impacting investors in Uganda. These fraudulent activities are reportedly freezing substantial investment capital.
Over the last three years, SHIPU has been instrumental in assisting both local and foreign investors, successfully recovering approximately Shs557 billion (equivalent to $149.5 million) lost to fraudulent schemes. Col. Nakalema emphasized the need for strengthened collaborative efforts to better facilitate and protect investors.
According to Col. Nakalema’s report presented at a recent stakeholder engagement, SHIPU has processed a total of 719 cases primarily involving land and financial fraud. These two categories constitute the bulk of issues that impede investment.
Beyond these major concerns, investors also face challenges from the high cost of capital and bureaucratic delays within public offices. These issues can force investors into difficult financial situations, sometimes leading to the loss of capital and hindering their contribution to the nation’s economic growth.
Brigadier General Henry Isoke, head of the State House Anti-Corruption Unit, corroborated these findings, noting a substantial volume of gold fraud cases and procurement scams targeting foreign investors. He stressed the critical need to stabilize the land sector, which has historically been a significant area for fraud.
Professor Pamela K. Mbabazi, Chairperson of the National Planning Authority, advised that investor protection should encompass measures against government fragmentation, advocating for a unified governmental approach to reduce transaction costs for investors. She also called for a greater focus on developing domestic investors and leveraging regional comparative advantages for targeted industrial development.
The Uganda Electronic Investors Protection Portal has been identified as a positive step in encouraging investors to voice their concerns, with SHIPU maintaining an open-door policy for all reported issues.