UPC concerned about exit of multinational companies from Uganda

By Prossy Kisakye

The opposition Uganda People’s Congress is concerned over the increased closure of businesses by multinational companies in the country.

This after a number of businesses including South African headquartered retail store Shoprite, Smart Telecom, and Africell, among others announcing the closure of business in Uganda.

Addressing the media at the party’s headquarters in Kampala, the UPC spokesperson, Sharon Arach Oyat, such exits on huge taxpayers not only leave many Ugandans unemployed but also affect local revenue collections.

She has thus asked the government to protect the workers and ensure that they get all their employee benefits.

Earlier, the board chairman of the Uganda Investment Authority Morrison Rwakakamba allayed such fears, saying Uganda is well cushioned from any possible economic shocks due to its diversification policy, which now focuses on growing agribusiness and ICT sectors.

Written by Noelyn Nassuuna