The chairman of the board of directors at Uganda Investment Authority (UIA), Morrison Rwakakamba, has left the agency
Rwakakamba’s term of office ended on Tuesday, October 1, as per the Investment Code Act of 2019.
He had served as a UIA board member before he took up the position of chairman on June 1, 2021.
“Today marks the end of my tenure as chairman of Uganda Investment Authority. I am so thankful to His Excellency President Yoweri Museveni for the opportunity to serve and the ministers of finance ministry, Board and staff of UIA for the support. Best wishes to the next chairperson,” he posted on X, formerly Twitter, on Tuesday.
In an interview recently, Rwakakamba said one of his greatest accomplishments was to enable the UIA to mobilise over 80 square miles of land across Uganda for establishment of industrial parks.
This was in line with the Presidential directive to establish 25 industrial parks in the country.
“I think we have achieved a lot. We have supported the President to establish Industrial parks, secured over 80 square miles of land, won four awards for the best investment destination, seen increased foreign direct investment, and fully supported domestic investors shifting from trade to manufacturing,” he said.
UIA statistics indicate that factories in Kampala Industrial and Business Park, Namanve were only 21 by 2016, but currently, there are 190. Those that are being constructed are 165 and those in pre-start phase as of February 2024, were 85.
The number of licensed investment projects also grew by 58.7% from 395 projects in the financial year 2020/21 to 627 projects during financial year 2021/22 since Rwakakamba took office.
Similarly, the value of planned investments registered 182.5% increase from $1.86b in 2020/21 to $5.27b during the financial year 2021/22.
